Frequently Asked Questions: Q:  WHY SHOULD I BUY LIFE INSURANCE? A:  It is important to have life insurance if you want to leave money behind, after your death.  Your loved ones can use the money during times of economic hardship, to cover expenses and/or rely on as primary source of income. Q:  HOW OFTEN SHOULD I RENEW MY POLICY? A:   Most policies are renewed after significant life changes, such as: - Marriage or divorce - Purchasing a new home - A child who is born - Changes in health Q:  WHAT IS A BENEFICIARY? A:  A beneficiary is the person you have listed in your policy to receive the proceeds. If you do not have a beneficiary, your proceeds will go to your estate. Q:  WHAT ARE DEPENDENTS? A:  If you have people in your life that you have to support, such as a significant other that stays at home, children, aging parents, etc., you have dependents that affect your policy. If you do not have dependents, you could leave money behind to family, close friends and/or charity. Q:  WHAT IS TERM LIFE INSURANCE? A:   This is the simplest form of life insurance.  It is inexpensive and usually protects you from one to thirty years. Usually, young couples with children purchase this policy. Q:   WHAT IS PERMANENT LIFE INSURANCE?       A:  This type of policy is great for the long-run; however, premiums tend to be    higher. This policy includes a death benefit, and helps build cash value.