What is this service?
Ge Chanfon Services helps you, as an insurance agency, learn about, compare, and apply for the life insurance policies available through the insurance companies we work with.
Life insurance can provide financial protection to the beneficiaries when the insured person dies.
Some policies also give access to certain benefits while the person is alive or build cash value, according to the terms of the contract.
Availability, approval, and coverage depend on the insurance company.
Who is this service for?
- Parents who want to protect their children financially.
- Married couples and families who depend on one or more incomes.
- People who want to protect their beneficiaries from debts and expenses.
- People who want to plan for their funeral costs.
- Business owners and self-employed workers.
- People interested in permanent coverage with possible cash value growth.
What type of life insurance do you need?
Choose a type of insurance to see its explanation. If you are not sure, choose “I need guidance” on the form.
Tap an option to see its explanation, requirements, and costs.
Term life insurance with living benefits
It provides protection for a set period, for example 10, 20, or 30 years, depending on the product available.
If the insured person dies while the policy is in force and its conditions are met, the insurance company pays the death benefit to the named beneficiaries.
Some policies include accelerated benefits that may allow you to receive part of the death benefit early in specific situations, such as:
- Terminal illness.
- Certain chronic illnesses.
- Certain critical illnesses.
Important: living benefits are not automatic, and not all term policies include them. They depend on the policy's clauses, exclusions, and requirements. Using them may reduce the benefit available to the beneficiaries.
Final expense insurance
It is life insurance designed mainly to help beneficiaries cover the costs related to a death.
The money received can be used for:
- Funeral services.
- Cremation or burial.
- Cemetery costs.
- Bills and other outstanding obligations.
Many final expense policies use whole life coverage with relatively modest coverage amounts.
Depending on the insurance company and the product, there may be options with simplified medical requirements.
Some policies have waiting periods or limited benefits during the first years.
Indexed universal life insurance (IUL)
It is a type of permanent life insurance that combines a death benefit with the possibility of building cash value.
The interest credited to the cash value may be linked to the performance of a financial index, subject to the terms of the contract.
Main features
- Death benefit protection.
- Possible cash value growth.
- Flexible premium and coverage options, depending on the policy.
- Possible access to the cash value through withdrawals or loans, subject to conditions.
Important: an IUL is not a direct investment in the stock market. Projected growth is not guaranteed. Insurance costs, fees, loans, and crediting results can affect the cash value and whether the coverage stays in force.
What does our service include?
- Identifying your general protection needs.
- Explaining the three types of insurance available.
- Comparing options from insurance companies.
- Reviewing premiums, coverage, terms, and benefits.
- Explaining relevant conditions and exclusions.
- Help with the insurance application.
- Administrative follow-up during the underwriting process.
- Help understanding the documents of the issued policy.
Final approval and the terms of the policy are up to the insurance company.
Information needed for a quote
- Full name.
- Age or date of birth.
- State of residence.
- The type of insurance you are interested in.
- The approximate coverage amount you want.
- Your approximate monthly budget.
- Health and lifestyle information the insurance company asks for during the process.
- Any additional information needed to review the application.
Important: do not provide confidential medical information, Social Security numbers, or personal documents through the public form on this page. Sensitive information will be requested later through the corresponding secure procedure.
Costs
Custom quote
What does the premium depend on?
Premiums may vary based on:
- Age.
- Health status and relevant history.
- Tobacco use.
- Coverage amount.
- Length of coverage.
- Type of policy.
- Additional benefits.
- The insurance company's underwriting criteria.
Before you apply for the policy, we will explain the quoted premium and the main terms. We do not guarantee approval or a specific premium.
Frequently asked questions
What is the difference between term and permanent insurance?
Term insurance provides protection for a defined period. Permanent insurance is designed to provide longer-lasting coverage, as long as the conditions needed to keep it in force are met.
What are living benefits?
They are contractual benefits that may allow part of the death benefit to be paid early while the insured person is alive and meets certain medical conditions.
Can I use living benefits if I have a critical illness?
It depends on whether the policy includes that coverage and whether the situation meets the contract's definitions and requirements.
Does final expense insurance pay the funeral home directly?
Generally, life insurance pays the named beneficiaries. A prepaid funeral plan is a different product.
Do I need a medical exam?
It depends on the insurance company, the product, your age, the coverage requested, and the risk assessment.
What is the cash value of an IUL?
It is the value built up inside the policy according to its crediting rules, costs, and fees.
Does an IUL guarantee gains?
No. Some contractual features may be guaranteed, but growth projections are not.
Can I withdraw money from my IUL?
That may be possible through loans or withdrawals, subject to conditions. These transactions can reduce the cash value and the death benefit, create fees or tax consequences, and increase the risk that the policy lapses.
What happens if I stop paying for the insurance?
The coverage may end, depending on the type of policy, its available values, and the terms of the contract.
Can I change my beneficiaries?
Generally yes, subject to the policy's conditions and the rights of any irrevocable beneficiaries.
How much does life insurance cost?
It depends on the individual review and the product's features. A personalized quote must be prepared.
How to get started
- Fill out the request form.
- Choose the type of insurance you want to learn about.
- Receive a message to collect the necessary information.
- Compare the available options and quotes.
- Review the terms and authorize the application for the selected policy.
- Complete the insurance company's underwriting requirements.
- Receive the decision and the corresponding documents if the policy is issued.
Insurance products are subject to each insurance company's availability, eligibility, risk assessment, terms, and exclusions. Cash value projections are not guarantees of performance. Ge Chanfon Services LLC · Phone: 432-880-7835 · Email: info@gechanfonservices.com