An independent agent represents multiple insurance companies and can shop the market to find the best coverage for your needs. A captive agent represents only one insurance company and can only offer products from that company.

A: You should review your insurance coverage annually or whenever you experience a major life change, such as marriage, divorce, the birth of a child, buying a home, or retirement.

A: Insurance premiums are based on various factors including your age, health, driving record, credit score, location, coverage amounts, and deductibles. The specific factors vary by type of insurance.

A: You should sign up for Medicare during your Initial Enrollment Period, which begins three months before the month you turn 65. Delaying enrollment may result in late enrollment penalties.

A: If you're still working and have employer health insurance, you may be able to delay Medicare enrollment without penalty. However, the rules vary depending on the size of your employer, so it's important to understand your specific situation.

A: Medicare Advantage is an alternative way to receive Medicare benefits through private insurance companies, while Medicare Supplement (Medigap) works alongside Original Medicare to help pay for costs that Medicare doesn't cover.

A: The amount of life insurance you need depends on your income, debts, final expenses, and your family's future financial needs. A common rule of thumb is 10-12 times your annual income, but your specific needs may be different.

A: Yes, there are life insurance options available for people with health problems, including simplified issue and guaranteed issue policies. However, these policies may have higher premiums or lower benefit amounts.

A: The consequences of stopping premium payments depend on the type of policy you have. Term life insurance will simply end, while permanent life insurance may have options such as using cash value to pay premiums or converting to a reduced paid-up policy.