Yes, many life insurance policies allow for making changes, like modifying beneficiaries, changing coverage amounts, or turning term policies into permanent ones.

It is possible to own multiple life insurance policies, either from the same insurance company or from different ones. Several policies can provide you with more flexibility and coverage to suit your needs financially.

The factors that affect life insurance premiums include age, health, lifestyle, occupation, coverage amount, and policy type. Younger and healthier people typically have lower premiums.

Term life insurance is ideal for individuals seeking affordable coverage for a specific period, usually when they have dependents or substantial debts.

Calculate your family’s financial needs (debts, future expenses, income replacement), then choose a policy with a death benefit that covers those needs.

Typically, no. Term life insurance offers coverage for a set period, and if you don’t pass away during the term, premiums aren’t refunded.

Term life provides coverage for a specific period (e.g., 20 years) while whole life offers lifetime coverage. Whole life policies often include a cash value component that can be borrowed against.

If your term expires and you’re still alive, your coverage ends. You may have options to renew or convert the policy, but premiums will likely increase.

Add-ons (riders) can be beneficial, offering extended coverage for critical illness, accidental death, etc. Consider if the increased cost aligns with your specific needs.

Be completely honest and transparent during the application process, disclosing all relevant health information and lifestyle habits.