Question 1

What does an independent life insurance brokerage do?

Accepted Answer

An independent brokerage is not owned by an insurance company. It can evaluate solutions from multiple insurance carriers rather than being limited to a single company, subject to appointments, product availability, licensing and eligibility. The work is understanding your situation first, then comparing what is available to you.

Question 2

What happens after I request a coverage review?

Accepted Answer

A licensed broker reads what you sent and contacts you the way you asked to be contacted. The first conversation is about your household or business: who depends on you, what you owe, what you already have. Options come after that, and the decision is always yours.

Question 3

Is approval guaranteed?

Accepted Answer

No. Approval is never guaranteed. Eligibility and premium depend on age, health, underwriting and the criteria of the insurance carrier. The carrier makes the underwriting decision, not the broker.

Question 4

Do I have to buy anything to get a review?

Accepted Answer

No. A coverage review is a conversation. Sometimes the right outcome is keeping what you already have.

Question 5

How much life insurance do I need?

Accepted Answer

It depends on who relies on your income, what debts would continue, how long your family would need support, and what you already have in savings and existing coverage. Rules of thumb based on a multiple of income are a starting point, not an answer. We walk through the numbers with you.

Question 6

What is the difference between term and permanent life insurance?

Accepted Answer

Term life insurance covers a set period, such as the years until a mortgage is paid or children are grown. Permanent life insurance, such as whole life or universal life, is designed to last for life as long as required premiums are paid, and may build cash value. Each has trade-offs in cost, flexibility and complexity.

Question 7

I have life insurance through work. Is that enough?

Accepted Answer

It may or may not be. Employer coverage is often tied to salary and to the job itself. Ask how much it is, whether it stays with you if you leave, and whether it would cover what your family would actually need.

Question 8

Is mortgage protection the same as PMI?

Accepted Answer

No. Private mortgage insurance protects the lender if a borrower defaults. Life insurance you own individually pays your chosen beneficiary, who can use it for the mortgage or anything else. Homeowners insurance is different again: it covers the property and liability. Cornerstone Capital is not affiliated with any lender.

Question 9

Should I replace my current policy?

Accepted Answer

Not without a careful comparison. Replacing a policy can mean new underwriting, new charges and a new contestability period. Never cancel existing coverage before replacement coverage is approved, accepted and in force, and carefully compared.

Question 10

How often should a policy be reviewed?

Accepted Answer

Whenever life changes: a new home, a child, a change in income, a new business, a job change. If none of those have happened, every few years is a reasonable rhythm.

Question 11

Is indexed universal life invested in the stock market?

Accepted Answer

No. Indexed universal life is permanent life insurance. Interest crediting may be linked to an external index under the policy's formula, but the policy is not invested in the index. Caps, participation rates and spreads limit what is credited, policy charges continue in every year, and illustrated non-guaranteed values are not guarantees.

Question 12

Is this site giving me tax or legal advice?

Accepted Answer

No. Content on this site is general information. Tax treatment depends on your circumstances and current law. Please consult qualified tax and legal professionals about your own situation.

Frequently asked questions

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