Frequent questions

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We will be happy to help you guide your insurance and family protection goals. In this section we have prepared a list of the most common questions we receive from our customers and partners.


In its simplest form, life insurance is a promise between an insurance company and you, the policy holder. If you pay a certain amount of money (premium) to the insurance company, the insurance company will pay a certain amount of money (death benefit) to the person (beneficiary) whom you tell us when the person whose life is being passed away dies. insured.

There are many types of life insurance. Term insurance only provides a death benefit for a limited period of time. In contrast, permanent insurance can provide a death benefit and the potential to build policy cash value that you can access over your lifetime through policy loans and withdrawals. Permanent insurance can also offer the flexibility to increase or decrease your death benefit as your needs change, as well as the ability to reduce or skip your premium payments.

Before you can buy life insurance, you must qualify for it. First, we will ask you to provide us with information that will then be used in what is called a subscription. This is the process an insurance company uses to determine the risk and the amount for which they will insure you.

Second, All of this information is provided to an insurer. An underwriter is someone who is specially trained to evaluate your application and determine what risk, if any, or what might exist. Once all of your information has been reviewed, the company will approve or reject your request. This process can take days or weeks depending on the information received.

Finally, your agent will contact you and go over your underwriting results and your policy details.

Life insurance with benefits in life is insurance that pays in life. They protect the financial stability of your family if you are diagnosed with a chronic, critical or terminal illness. In other words, you don’t have to die to collect your life policy benefits. As a supplement to this life insurance policy, living benefits allow you to collect a percentage of the policy’s death benefit to deal with credit card debt, medical bills, mortgage, etc.

This is how the benefits in life are described.

  • Chronic diseases: these are long-term diseases, it is usually considered chronic when it lasts more than 6 months. They are those diseases that prevent us from being able to carry out two of the six daily activities of life such as: eating, washing, dressing, moving around, controlling the sphincter and bathing.
  • Serious illnesses: These illnesses include stroke, cancer diagnosis, kidney failure, organ transplantation and heart attacks, severe burns, etc.
  • Terminal illnesses: Are those injuries or illnesses that are advanced, progressive or incurable, from which no response to treatment is obtained and can reduce life expectancy to 12 months or less.

* This policy also acts as a savings account as it accumulates money for your retirement.

The idea of ​​buying life insurance for your child is something that no one wants to consider because it forces us to consider the unthinkable. But buying a policy for a child is not just about having financial protection for example for tuition or university since these policies generate

Most of today’s insurance policies also offer riders that will allow the child to increase their insurance coverage when they reach a certain age in life.

You could name any legally competent person as the beneficiary, including your spouse, children, other relative, or friend.

You could also name a beneficiary entity, such as a trust or charity. The proceeds of your policy will be paid directly to your beneficiary, privately and without the delays of legalization. If your needs are more complex, perhaps to care for an elderly parent or child with special needs, you may consider using a trust as your beneficiary. The trust will outline the provisions on how the proceeds will be distributed and a trustee of your choice may be appointed to manage the proceeds on behalf of the beneficiary.

Term life insurance is the cheapest of all types of insurance, it has a coverage time that ranges from 10 to 30 years. The price of these life policies can be $ 50 per month depending on the amount insured.

This type of life insurance is generally used for a specific purpose. For example, securing a mortgage in the event that the insured dies, paying for their children’s college, etc. With the return on premium component. When the life policy expires, the insured receives all of the premiums paid.

The permanent insurance policy covers for life as long as premiums are paid on time. The insured only has to select the amount of coverage for which he is going to be insured. This type of life insurance has higher prices, but at the same time it acts as a savings account since it accumulates money for your retirement. The portion of savings will depend on the type of permanent life insurance you choose, the insurance company and the conditions of the policy. Those savings are only paid to the insurance owner.

It depends, first ask yourself: Does anyone depend financially on me? You may not have a dependent spouse, but what about other family members? Even if no one is depending on you, you can consider purchasing life insurance to cover debt, taxes, funeral, and other final expenses. But before making a final decision, think ahead.

If you get married and have children one day, you may want to have life insurance coverage. If you buy coverage today while you are young and healthy, you will get lower premium rates than if you wait until you are older. Rates increase as you age and if your health deteriorates.

Yes, you could. You can access the policy’s cash value through a withdrawal or as a loan from the insurance company using the policy as collateral. If you make a withdrawal, your policy values ​​will be immediately reduced by the amount of the withdrawal. If you take out a loan, depending on the type of insurance you have, the value of your policy can continue to increase. You are not obligated to repay the loan or the interest on the loan during your lifetime. However, if you choose not to do so, any outstanding loan balance will reduce the amount of the death benefit payable to your beneficiary.

If your insurance protection is term life, you will have a grace period to make the payment. If at the end of the grace period you have not made a payment, your policy will expire and you will no longer be covered.

If your insurance protection is permanent life insurance, you will have a grace period to pay your premium plus some additional options. Your policy may have enough cash value to pay the premium for those policy values. Just keep in mind that using the policy values ​​and benefits to pay the premium due will reduce the policy’s cash value and death benefit, and may increase the risk of the policy expiring. If you do not have enough cash value to pay your policy premiums, you may have the option of reducing your face amount to a level that does not require payment of a premium.

Most importantly, if you are having trouble making your payment, contact the insurance company’s customer service area. They will be able to provide you with specific options for your policy.

No. The actual payment you receive will be less than the portion of the accelerated death benefit because benefits are paid before death (in life). Values ​​are based on interest rates current status, the age of the policy and your age and health.

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