faqS
Your questions – our answers
What does life insurance cover?
It can help cover some of life’s biggest expenses, like a home mortgage, debt, your children’s college tuition, and it can also replace lost income. Your policy can also help cover everyday expenses—anything your beneficiaries need, really. Ultimately, it’s up to them to decide how to use the payout.
I have insurance through my employer, is that enough?
Most employer policies end after employment ends which leaves you without coverage when you are older and coverage is more expensive. Also, employer-sponsored policies typically offer coverage that is about 1-2X your annual salary, which is a fraction of the coverage you need. Financial experts recommend having coverage that is about 10X your salary, which is why many people buy individual term policies to supplement their coverage through work.
How much life insurance do I need?
A common and easy way to come up with a coverage estimate is to multiply your annual income by 10. Another way is to calculate your long-term financial obligations and then subtract your assets. The remainder is the gap that life insurance needs to fill.
Do policies offer a money-back guarantee?
Yes. Applications are 100% free and won’t affect your credit score. Additionally, each policy has a 30-day free look period with a money-back guarantee. So if you aren't satisfied, you are eligible for a full refund if you cancel within the first 30 days after purchase. After the first 30 days, you may cancel your policy whenever you want to, for any reason. There are no cancellation fees or penalties if you choose to cancel your policy.
Can I speak with a real person?
Yes—we’re happy to assist and support you anytime. You can get in touch with our customer success team by emailing contact@1322.finance or calling (813) 709-9063.