Frequently Asked Questions

Where is Empyral Insurance Group located?

We are located in New Orleans, La.  In keeping up with the times, we do not have a traditional brick and mortar location. However, our overall mission is to establish such locations throughout the state of Louisiana, beginning in 2020. 

How much life insurance do need?

The amount of Life Insurance needed varies from person to person. There is no one policy fits all. Each person's situation and goals are different, therefore our approach to determining how much life insurance a client should consider isis to consult with them about their specific needs. 

During the Free Consultation we discuss your expenses, income, and future goals to help us make a more informed suggestion about a coverage type that may work for you.

Can I have multiple policies?

Yes. You are allowed to have more than one life insurance policy. We recommend a small mix of Whole and Term Life. However, we suggest that you only purchase what is absolutely needed, as having multiple policies can get expensive depending on the type selected. 

Can I trade in my existing policy for a different policy?

Yes. You have the option to trade in your existing  policy for a different one. This is called Replacement. There are pros and cons to replacing a policy so consult with your agent or contact us and we'll be happy to discuss them with you.

Does it matter what age I buy life insurance?

Generally speaking, you should purchase life insurance as early as you're able to. The younger you are the cheaper your rates will be. As you get older, you are considered to be at greater risk of dying so that translates to being a greater risk for the insurers to insure. However, if you're a late bloomer with life insurance and are just coming around to understand how having a policy truly benefits you, that's ok. You can still get coverage up to a certain age, usually 85, though some carriers have now extended that age to 90.

Can I still be insured if I have a serious health condition?

Yes, you can still be insured if you have a serious health conditions. You can automatically qualify for what is called a Guaranteed Issue life insurance policy. This type of policy does not ask medical questions so virtually anyone with a serious health problem can qualify.  There is no health criteria to meet. This type of policy has a max death benefit of $25,000. Before decided that this is the policy for you, speak with one of our professionals to be sure that what you consider a serious health condition, is indeed serious according to carrier policy issuing criteria.

If I were ever denied coverage in the past, can I still get insured?

If you were denied coverage in the past it could be that you didn't meet the health requirements for a particular carrier's life insurance product(s). However, that does not mean that you are doomed and that you cannot receive coverage. You may still be eligible for plans with other carriers and if you are dealing with or have recently dealt with a serious sickness and are in need of coverage, a Guaranteed Issue Life policy will quickly and easily solve that problem. Schedule a Free Consultation with one of our licensed agents to find out what you can qualify for.

Can I purchase life insurance without taking an exam?

There are certain advantages to taking a medical exam for life insurance coverage such as the possibility for higher death benefit amounts and better rates. However, you do not have to go that route if you don't want to. You can simply apply for a Non Med/No Exam policy. With these policies, you answer simple medical questions as opposed to a more extensive line of questioning. And there is again, no exam required to obtain coverage. 

Can I have more than one beneficiary?

Yes you can have more than one beneficiary. Some people have more than one child, sibling, or parent they'd like to leave something behind for, and the flexibility of adding multiple beneficiaries is a wonderful option for them. 

Who qualifies as a beneficiary?

Virtually anyone you want to leave money for can qualify as a beneficiary. Institutions, creditors, banks, loved ones, and even your favorite charity or organization can be your beneficiary.

Should I buy Whole Life or Term? What's the difference?

Whole Life insurance is a permanent product versus Term Life insurance, which is a temporary product. Both policy types have their place, but to know when one is for you, it's important to know what your plans are and how each one can meet the needs of your specific goals. To learn more about how each one can serve you contact one of our life insurance professionals.

Can I restore a lapsed policy?

With most carriers, if you are late paying your policy premium you have up to 30 days to make a payment. If you do not make a payment then your policy will lapse. Depending on the carrier you may call them within a certain amount of days after the policy lapses and they will restore the policy for the amount of premium owed plus any new premiums due. If your policy has lapsed get in contact with your agent or call us at 888-558-6045 Monday through Friday between 9am and 5pm to get assistance with this matter. 

What are Accelerated Benefits?

Accelerated Benefits are life insurance benefits paid out before the death of the insured. In general, when an insured suffers a qualifying chronic, terminal, or critical illness, he or she activates the policy's accelerated benefits rider and is allowed a significant portion of the policy's face amount/death benefit while living, which is why these benefits are also referred to as Living Benefits. 

These benefits are sometimes built into a life insurance policy, but are usually purchased as additional riders. The qualifying events for each accelerated benefit rider may vary by insurance carrier, as well as the exact payout amount. To learn more about how to take advantage of Accelerated Benefits for your existing or future life insurance policy, schedule a free consultation with one of our life insurance professionals. 

If I'm late on a payment, how long do I have before the policy lapses?

Your policy's lapse date varies per product and carrier, but is usually 30 days from the day your premium was due. To know the exact terms of your policy's lapse period, contact one of our professional insurance specialists to set up a  Free Policy Review.

Is Empyral Insurance Group and all of its agents fully licensed?

Great question. Yes. All of our agents are fully licensed as well as our agency. For more details please see our About  page.

Do I pay my premiums to Empyral Insurance Group, or my carrier?

All premiums paid are paid directly to the carrier through which you have your life insurance policy. Payment options vary from carrier to carrier and you can choose which payment method works best for your situation. However, all Empyral Insurance Group agents are permitted and able to lawfully accept and submit premiums to all contracted carriers on your behalf in the event you cannot.

Does it make since to replace a policy?

Replacing a policy in exchange for a new one can be tricky. You should NEVER replace a policy without fully understanding how it will impact you. Also, be aware there are certain rules in place to protect you, as an insured, from illegal and unethical business practices by insurance agents. You need to have a general knowledge and understanding of how these changes work.

For example, if you've built up a significant amount of Cash Value in your existing life insurance policy, starting over with a new policy may erase all of the cash your existing policy may have accumulated. Further, if you're reached a certain age your insurance premiums may be significantly higher than the amount you are already paying, which may or may not be feasible for you. And keep in mind that you may have to qualify for coverage and if your health is not as good as it once was, you risk paying higher premiums this way as well, or even being declined coverage. If you declined coverage, you may still be able to purchase a Guaranteed Issue policy, but depending on your age, it may cost more than you are currently paying.

But if you're in decent health, and there is very little to no cash value in your existing policy, and you're at an insurable age, replacing a policy for one that better meets your needs may be the smartest thing to do, regardless of the change in premium. To learn more, or to speak with one of our knowledgeable insurance professionals about replacing a life insurance policy, click here.

What does life insurance actually cover?

Life Insurance can essentially be used to cover whatever your beneficiary's needs are, depending on the amount of coverage selected. For example, it can be used to supplement a survivor's income, pay off debt, pay off education costs, purchase property, pay off medical bills, and more. It is also commonly used to pay for funeral expenses for the deceased insured.


Did We Miss Anything?

If you don't see your questions here, or if you need further clarity on a listed topic, please let us know. Your concerns are very important to us and we'd like an opportunity to address them.

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