FREQUENTLY ASKED QUESTIONS
Be In The Know
WHAT IS THE DIFFERENCE BETWEEN FINAL EXPENSE AND LIFE INSURANCE?
Final expense if typically for those over 50 years of age with prior health conditions. These policies are from $5k - $20k in face value.
WHAT IS THE DIFFERENCE BETWEEN WHOLE, TERM, UNIVERSAL AND PERMANENT LIFE COVERAGE?
Whole life - coverage that does not expire and builds cash value (as long as your premiums are paid)
Term - coverage that terminates in a certain timeframe, typically 5,10,15,20, or 30 years. Does not build cash value.
Universal/Permanent - coverage that has the ability to build cash value and it does not expire depending on how the policy is set up
WHAT'S THE DIFFERENCE BETWEEN LIFE INSURANCE AND ANNUITY?
The simple answer is, life insurance protects your human capital and annuities protects your financial capital.
DO YOU ONLY OFFER PRODUCTS FROM ONE COMPANY?
Taylors Financial Solutions offer products from various top named insurance companies. This allows us to work with your budget and find the product that works best for YOU not the insurance company.
WHAT IF I HAVE A PRE-EXISTENT MEDICAL CONDITION, CAN I STILL GET COVERAGE?
YES! We have companies that will provide coverage even when you have been denied coverage before.
WHY DO YOU NEED MY SOCIAL SECURITY NUMBER?
When submitting an application for coverage to any insurance company, it is required that you provide a valid social security number. By providing this number, the insurance company runs a prescription history check and a MIB check instantly and let us know if it is okay to proceed with the application within the first couple of minutes. This allows everyone to maximize the use of their time.
DO I NEED A BANK ACCOUNT IN ORDER TO GET A LIFE INSURANCE POLICY?
Most life insurance companies require you to have a valid bank account in your name. However, there are also some companies that will allow you to pay using your social security benefits card and have your premium date adjusted.
WHY DO YOU NEED MY BANK ACCOUNT INFORMATION?
In order for us to submit your application for coverage to the insurance company, it is required that we enter your banking information. In most cases, you are not charged until underwriting is complete which typically takes 2-3 business days.
DO I NEED TO BOOK A CONSULTATION?
If you have a business idea or need assistance with knowing where to start and how to obtain vendors or information on how to implement your business idea, YES you must book a consultation.
IS THE CONSULTATION FEE REFUNDABLE?
DO YOU OFFER MENTORSHIP?
Yes. If mentorship is needed/requested please mention it during your consultation. You will receive an invoice for the agreed upon date(s) and time(s). Mentorship will not begin until full invoice is paid.