Life Insurance Questions, Answered

A feature on many life insurance policies that lets you take part of the death benefit early if you are diagnosed with a qualifying serious illness, such as a heart attack, cancer or stroke. What qualifies, how much is paid and how it affects the death benefit vary by plan and state.

Coverage through the job usually ends or shrinks when you leave, get laid off or retire. A private policy stays with you wherever you work, and many people keep both.

For most trades, no. The price is mostly set by your age, health and tobacco use. A few kinds of work can affect the rate with some insurance companies, so your advisor checks which company treats your trade best.

Often not. Many plans are approved from health questions and records, with no exam. Some coverage amounts and health histories do need one. Your advisor will tell you up front.

Tradesman Life Group is the trades-focused brand of Nitehawk Financial LLC, a licensed insurance agency. When you ask for your options, a licensed advisor from Nitehawk Financial calls you. We are not an insurance company, a union or a government program. Policies are issued by the insurance companies we work with.

Life insurance provides a financial safety net for your loved ones if something happens to you. It can replace lost income, pay off debts like a mortgage, cover funeral expenses, and fund your children's education. If anyone depends on your income, you likely need life insurance.

A common rule of thumb is 10-15x your annual income, but your actual need depends on your debts, dependents, and financial goals. Use our calculator to get a personalized estimate, or talk to an agent for guidance.

Term life covers you for a specific period (10-30 years) and is more affordable. Whole life covers you for your entire lifetime, builds cash value, and has level premiums — but costs more. Term is ideal for temporary needs like a mortgage; whole life is better for permanent coverage.

With Tradesman Life Group, it starts with a free consultation. Your advisor will help you choose the right coverage, then guide you through a simple application. Many policies can be approved in as little as 48 hours.

Term life provides affordable coverage for a set period — typically 10, 15, 20, or 30 years. If you pass away during the term, your beneficiaries receive the death benefit. It's ideal for young families, mortgage protection, and income replacement during your earning years.

Whole life is permanent coverage that lasts your entire lifetime. It features level premiums that never increase and builds tax-deferred cash value you can borrow against. Coverage amounts typically go up to $100,000.

IUL is a flexible permanent policy with cash value growth tied to a market index (like the S&P 500). You get upside potential with downside protection — your cash value never decreases due to market losses. Coverage up to $500,000.

Mortgage protection ensures your family can keep their home if something happens to you. The death benefit is designed to pay off your remaining mortgage balance. Coverage up to $2,000,000.

Costs vary based on your age, health, coverage amount, and policy type. Term life can start as low as $15-30/month for a healthy adult. Whole life costs more but provides permanent coverage. Your advisor will find options that fit your budget.

Age, health conditions, tobacco use, coverage amount, term length, and policy type all affect your premium. Generally, the younger and healthier you are, the lower your rates.

With term life and whole life, your premiums are locked in and will never increase. With IUL, you have flexibility to adjust premium amounts.

You can name anyone — spouse, children, parents, siblings, friends, a trust, or even a charity. You can also name multiple beneficiaries and specify how the benefit is split.

Your beneficiaries contact the insurance carrier with a copy of the death certificate and the policy number. Most claims are processed within 30-60 days. Your licensed advisor can help guide them through the process.