Frequently Asked Questions

Here's a short list of FAQs about life insurance.

Question: I already have a life insurance policy, so why Baer Coverage?

Answer:

  • New product features at affordable prices: You may have thought your past coverage was sufficient at the time, but new and improved has come along that offers better rates and better benefits. If you got your coverage 16 years ago, well that was the start of iPhone. Fast forward to 2024, and now we have the iPhone 15 with 5G technology. Insurance behaves in the same way!

  • Cash value & better benefits: We have policies that have very aggressive cash value growth, increasing death benefits AND living benefits! The amazing thing about these features is they can be included in an all-in-one policy! At the very least, it doesn’t hurt you to compare and contrast coverage to learn your current options:

    • You can make an addition to your current policy to have excellent beneficial coverage.

    • If you have a whole life plan with another company and end up replacing coverage, I can get you your cash value from your previous policy.

  • Direct financial advisor access: I provide the best universal, whole and term coverage by having access to the most extensive insurance products. I am available M-F 9am-6pm. If you can’t reach me by phone, I am very good with responding to texts or emails in a timely manner, typically within 24 hrs. In other words, you’ll be dealing with me as senior agent directly!

Question: Why buy life insurance?

Answer:

There are many reasons to buy life insurance, but here are my clients’ most common reasons:

  • For building a financially stable future: Clients think to buy insurance when they have a major life event like getting married, starting a family, buying a house, plus for future investment strategies and funeral costs.

  • The family is expanding: I’ve had many clients initially purchase insurance and realize they need more coverage after having children. My client added 3 kids to the family, so all the sudden it’s 3 times the cost of college for 4 years. Yikes! That sounds like it’s going to be a lot of insurance. The good news is I make it manageable for your wallet.

  • The loss of a love one: Yes, you read that right. People sometimes don’t think about the importance of insurance until a family member (young or old) has passed and left them with the cost of final expenses. In this unfortunate circumstance, they want to better prepare for themselves and their other children or next of kin.

  • For a financial investment with no withdrawal penalty: Strangely enough, I have clients who take out policies for the sole reason of never having the death benefit paid out. Instead they use their policy as high interest sensitive cash growth machine, which 20 to 30 years down the line can be a sound investment.

Question: How much coverage do I need to protect my family?

Answer:

The amount of insurance needed is generated with a tool I use called The Dime Method that aggregates:

BAER COVERAGE_Dime Method.jpg

  • D: your existing debt

  • I: your annual income (you typically want 7 to 10 times your annual salary)

  • M: your current mortgage (how many years you have left to pay on the house)

  • E: your or your family’s education costs

Plus, I factor in how much it costs for a traditional funeral or cremation ceremony. Most of my clients find that they need over $1,000,000.00 in insurance for sufficient coverage, but are shocked when I show them how affordable this can be.


Question: When to buy life insurance? Who qualifies?

Answer:

  • Anyone can purchase and/or apply for insurance between the ages of 1 month to 85 years old, as long as they don’t have critical health issues. AIDS & HIV are the only health restrictions to offering coverage.


Question: Is life insurance expensive?

Answer:

  • It depends on the coverage you choose, your age and your state of health. If you buy insurance at a younger age, it will be less expensive than if you buy it at an older age. Your health is a factor, too. The healthier you are, the more affordable the rate is as well.

Question: Do I have to get a medical exam?

Answer:

  • We have plans that don’t go into your health history; however, those plans cost more as we have blanket coverage for whatever the health issue is. By going through a medical exam for certain policies, you can lower the cost of your insurance and get you more coverage. Meanwhile, if you do not get an exam, the cost of insurance typically costs quite a bit more.