Quantum Finance – simplifying insurance

FAQ’s on Insurance

  1. Are all Term Insurance Policies the same ?
    While all Term policies function the same way, i.e paying out the tax free death benefit when the insured passes away, there are a few insurers that will provide additional benefits to the insured during his lifetime. These are called living benefits and they typically consist of “Chronic Illness Benefits”, “Critical Illness Benefits”, “Terminal Illness Benefits”.
  2. What are living benefits in a Term or IUL policy ?
    Some Term Insurance Policies provide an additional benefit that can be accessed by the policyholder while he is alive. These are
    Chronic Illness benefits – Chronic illnesses are typically conditions suffered for a long period of time, during which normal daily living is disrupted. The qualifying illness or conditions affect the ability to perform simple tasks like eating or dressing without assistance; or they may also involve severe cognitive impairment such as Alzheimer’s disease.
    Critical Illness benefits -Critical illnesses often come suddenly and without warning, and the financial affect can be life-altering. Some of the qualifying critical illnesses or conditions like Major Heart Attack, Major Organ Transplant, Paralysis, Severe Burn, Stroke, Coma, Coronary Artery Bypass, End Stage Renal Failure, Invasive Cancer are covered.
    Terminal Illness benefits – Terminal illnesses are defined as those in which a physician reasonably expects will result in the insured person’s death within 24 months.
    A portion of the coverage can be used for any of the above benefits. The final death benefit is reduced after using coverage for any of the above. Not all carriers offer this, reach out to us so that we can do the research for you.
  3. Why should someone buy Term coverage when they are covered at work?
    Group life Insurance through work ends when you leave the job. Some employers do allow converting the policy to a whole life policy but that is very costly. Moreover, coverage is usually 1x of your Annual salary, which may not be enough to meet your needs. Purchasing additional/new coverage after you leave your job will depend on your age and health. So, it’s best to buy Term Coverage in addition to that provided by your employer.
  4. Is the term policy from Costco (Protective) really cheap?
    Comparing the premium paid for a Protective Term Life Insurance for 20 yrs for a 50 yr healthy male to a policy given by Corebridge, the Protective policy is cheaper by $1,700 over the course of 20 years. However, the Corebridge policy offers several living benefits like coverage for Chronic/Critical Illness that are not part of the Protective policy. Over 20 years, the savings from the Protective policy are just $7 a month. Do you really want to miss out on living benefits for such a small amount? This is the research and analysis that you get with us, start with us for all your Life Insurance needs.
  5. Can Annuities offer better rates than CD’s ?
    Annuities like MYGA (Multi Year Guaranteed Annuities) offer better rates than CD for a term that is greater than the CD rate. At the end of every term, the rate resets to the minimum promised or a higher current rate. If you no longer want the new rate, the Annuity can be surrendered for a surrender charge. Let’s compare this with an example. All rates are as of Jan 30th 2026.
    CD Rates – Vary from 4% to 4.1% for a period of 12 months offered by ETrade and Alliant Credit Union.
    MYGA – Offered by F&G . Rates are 4.4% for 3 years, 4.8% for 7 years.
  6. Can US legal immigrants(on a legal Visa) get Life Insurance ?
    Yes, all US legal immigrants with a valid Visa can get Life Insurance. The limits vary based on stay duration in the US. Permanent residents with a 10 yr green card are treated at par with US citizens. Others with a temporary visa are limited to fewer riders and usually have a limit on the maximum coverage. Contact us for specific details.
  7. Are there any Insurance products that offer Gold/Silver as part of their investments ?
    Insurance should not be looked as investments, however a few Insurance products like IUL’s (Indexed Universal Life) / VUL’s (Variable Universal Life) offer indexes/investments into a range of commodities or foreign indexes. Please reach out to us if you need help with selecting the right coverage.
  8. What to look for an Insurance company?
    Insurance Policies are for a long period, 25+ years. It is important to select an Insurance company that can last that long. Rating Agencies like AM Best, Moody’s and S&P Global rate the insurance companies on several factors. The best rating from AM Best is A++, Moody’s is AAA and S&P Global is AAA.
    Select ratings of carriers are as follows –
    Corebridge – Moody’s A2
    Nationwide – Moody’s A2, AM Best A
    Mutual of Omaha – Moody’s A1, AM Best A+
    F&G Life – Moody’s A3, AM Best A
    North American – S&P Global A+, AM Best A+
    Besides the ratings, also read reviews related to customer service.
    We have done all the above research. Reach out to us and we can help you select the best possible carrier for your need.