Frequently asked questions (FAQs)

Scroll through the list of FAQs below. If you don’t see what you need, call us at 800.259.0455, email us or start an online chat. As always, we’ll be here when you need us.

Q: Does everyone in my family need health insurance?
A: Let’s suppose that 9 times out of 10, everyone in your family will be healthy all the time and everything will work out as planned. In that made up scenario, there’s still a 10 percent chance of a health-related “something” putting life on hold for a bit. The right insurance plan for everyone in your family might not cost much more for each person and will help you and your family cope if/when life takes a detour.

Q: If I’m disabled, will my family be able to pay the bills?
A: It used to be that heart attacks and strokes killed most everyone who had one. Today, that’s changed a lot. About 5.4 million stroke victims and 60 percent of all heart attack victims will live through their ordeal – but all too often they face disabilities. A disability plan, long-term care policy or another benefits plan can help pay the bills and even care for your family during those tough times.

Q: How much life insurance is enough?
A: We often recommend you use seven times your annual salary as a starting point. But it really is a bit more complicated than that. The best way to estimate the amount you need is to determine how long you want to be covered, who will benefit and more. You can get a quote right now, or call us and we’ll help you pinpoint the right coverage.

Q: Can’t I just buy one insurance policy to cover my family and me?
A: With ever-rising healthcare costs and the need to provide people with affordable options, insurers have begun to eliminate some portions of policies that they feel many families will not need. If your family needs those additional benefits, we’ll explain the details and help you easily add to your total benefits. Don’t worry, we can often help you save money this way.

Q: Is a Health Savings Account (HSA) right for my family?
A: That depends. A HSA is a great way to save a set amount of pre-tax dollars into a specified account. The funds gain non-taxable interest until you’re ready to use the funds for medical expenses, eyeglasses, braces, alternative care, chiropractic and more. But there are limitations and the money can only be used for qualified expenses.

Q: Does Life Insurance pay for my children’s college if I die?
A: The plan you choose greatly affects the benefits your spouse and children will receive upon your death. We will make sure you are getting the coverage you need to protect your family tomorrow.

Q: What is Term Insurance?
A: Term insurance is 10, 15, 20 or 30 years of a specified premium and payout benefit. And once you’ve completed the term, you can usually move to a Permanent Life plan.

Q: What is Permanent Life insurance?
A: Permanent Life comes in a lot of different variations, including: Universal Life, Whole Life, Index Whole Life, Index Universal Life and many more. Simply put, as long as the premiums are met, Permanent Life plans may be kept current until the death of the insured.

Q: Do I need a Return of Premium Life policy?
A: Unlike traditional Term Insurance, a Return of Premium Life policy literally returns all of your premiums at the end of the specified term. Those terms are usually 15, 20 and 30 years. This means your net cost for a 30 year policy comes to a whopping $0. Ask about Return of Premium Life when you talk to your Pacific Benefits Group expert.

Q: Do I need Joint Life Insurance?
A: If you have a family business, are planning your estate or need estate protection, a Joint Life Insurance plan may be right for you.