Life Insurance Frequently Asked Questions

The Hinerman Group knows how frustrating and confusing shopping for Term Life Insurance can be. When you add in complications and life events it can feel impossible. The Hinerman Group is here to walk you through every step of the term life insurance process and ensure that you get the rates and policy information you deserve.

Do I have to pay a full year at a time?

The quick answer is NO. You can choose to pay annually, semi annually, quarterly or monthly, monthly being done by automatic bank draft. Annually is the least expensive, but the most important choice is what works with your budget.

What does it cost to apply for life insurance?

The answer is nothing. Any company or agency that requires money with the application is simply using a psychological ploy to make you feel more committed to them than you need to be. Don’t pay for anything until you have a policy in your hand and you are sure it’s what you want to put in force.

How do I know you represent good companies?

We only quote and illustrate companies that are A Excellent to A++ Superior rated by AM Best. While we represent many companies you have probably heard of such as Prudential Financial, we may quote companies that you’ve never heard of that are equally or higher rated than Prudential. They have simply chosen to put their money into low rates versus advertising.

What does “subject to full underwriting” mean?

When we give you a quote, it is accurate based on the information you have provided. Full underwriting is the next step and includes an examination (at no cost to you) and a review of your medical records. Full underwriting gives a company the peace of mind to be able to offer a low rate because they’ve seen the whole picture.

Do I need to take an exam?

No! There are companies that will issue policies without exams, but you pay for it. You’ve taken away a little bit of that peace of mind that full underwriting gives and the rates are subsequently higher. It’s worth noting that even though you can skip the exam, they will still retain the right to review your medical records. That said, if you are young and want it quick and easy, prices really aren’t that high until reach age 35-40.

Is there a waiting period before life insurance becomes effective?

The answer we use around the office is “no, as long as you tell the truth and don’t do yourself in”. Every policy has a 2 year suicide and contestability period. During the first two years the company doesn’t have to pay if the death is due to suicide or due to something that was misrepresented on the application. If you are completely honest on the application and don’t do yourself in, the policy is fully in force from the date the first premium is paid until you quit paying premiums.

Is whole life better than term?

No it isn’t. Whole life in my opinion is an outdated, underperforming, overpriced product. There are newer permanent products and there are permanent needs that can be met by those at a far lower price. Easily upwards of 95% of all life insurance needs can be met by term insurance.

What if I outlive my term insurance?

The answer is “it worked”. You provided the protection during the years it was needed and you’re still around to enjoy the party. If the question is really about feeling bad about being alive and having spent that money, then look into return of premium term insurance. If you outlive the term you get all of your payments back, tax free. You get to enjoy the party and you will have provided that protection for free.

More Questions? Check Out Our Blog!

The Hinerman Group knows that every situation is unique and it can be difficult finding the best answers. Be sure to check out our blog where you will find a comprehensive bank of topics covered regarding Life Insurance. The background covered in The Hinerman Group blog will point you in the right direction and help you get your family the coverage you need.

Want to talk? Call Ed directly at (719) 539-7914 for a FREE CONSULTATION. *Ed released the fish and it went on to have a full life. Occasionally Ed receives postcards from new waters and pictures of grandfish.


My 20 years of experience give me the knowledge and leverage to find reasonably priced Life Insurance for people who have been declined or are paying more than they need to.

Let’s get together and get it done right for you and your family!