Frequently Asked Questions
(FAQs)
Frequently Asked Questions About Life & Health Insurance
Your insurance questions answered. If you don’t find what you’re looking for, contact us and our licensed agents will be happy to help.
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General Insurance Questions
Do I really need insurance?
Yes, for most families, both life and health insurance are essential.
Life insurance protects your family financially if you pass away unexpectedly. Without it, your family could struggle to pay the mortgage, cover living expenses, or fund your children’s education. If anyone depends on your income, you need life insurance.
Health insurance protects you from devastating medical bills. Without coverage, a single hospital stay can cost $30,000-$50,000+, potentially leading to bankruptcy. Health insurance ensures you can afford necessary medical care and protects your financial stability.
Even if you’re young and healthy, unexpected accidents and illnesses can happen. Insurance provides peace of mind and financial protection when you need it most.
How much does insurance cost?
Life Insurance:
- Term life insurance: $20-$60/month for most healthy adults (for $500,000 coverage)
- Whole life insurance: $85-$200/month depending on age and coverage
- Final expense insurance: $30-$150/month for seniors
Health Insurance:
- ACA marketplace plans: $0-$600/month per person (subsidies available based on income)
- Short-term medical: $150-$350/month per person
- Dental insurance: $15-$40/month
- Vision insurance: $10-$20/month
- Supplemental insurance: $20-$100/month depending on coverage type
Your actual costs depend on your age, health, coverage amount, and other factors. We provide free quotes to show you exact pricing for your situation.
Can I get insurance if I have health problems?
Yes! Options are available even if you have health conditions.
Life Insurance:
- Many people with controlled diabetes, high blood pressure, high cholesterol, or other manageable conditions qualify for traditional life insurance (though rates may be higher)
- Final expense insurance offers guaranteed acceptance regardless of health
- Simplified issue life insurance requires no medical exam
- We work with multiple carriers to find coverage for clients with various health conditions
Health Insurance:
- ACA marketplace plans cannot deny you or charge more based on pre-existing conditions (this is federal law)
- All health conditions are covered from day one with ACA plans
- Short-term medical insurance does NOT cover pre-existing conditions
- Supplemental insurance (hospital indemnity, dental, vision) typically covers pre-existing conditions after waiting periods
Contact us for a free consultation—we’ll help you find coverage regardless of your health status.
What’s the difference between a broker and an insurance agent?
For practical purposes, the terms are often used interchangeably, but technically:
Insurance Agent:
- May represent one insurance company (captive agent) or multiple companies (independent agent)
- Licensed by the state to sell insurance
- Can help you compare options and enroll in coverage
Insurance Broker:
- Always represents multiple insurance companies
- Works on your behalf to find the best coverage
- Also licensed by the state
At Verdant Insurance Solutions, we’re independent agents/brokers—we work with multiple insurance carriers to find you the best coverage at the best price. Our loyalty is to YOU, not to any single insurance company.
How do I know if an insurance company is legitimate?
Check these resources:
- Louisiana Department of Insurance: ldi.la.gov – Verify the company is licensed to operate in Louisiana
- AM Best Ratings: ambest.com – Check financial strength ratings (look for A- or better)
- Better Business Bureau: bbb.org – Read reviews and check complaint history
- NAIC Complaint Database: naic.org – See how many complaints the company receives
When working with Verdant Insurance Solutions, you can trust that we only work with financially stable, reputable insurance carriers licensed in over ten states.
Life Insurance FAQs
What type of life insurance do I need?
It depends on your situation:
Choose Term Life Insurance if you:
- Need affordable, substantial coverage ($500,000-$1,000,000+)
- Want to cover temporary needs (mortgage, income replacement while kids are young)
- Are on a tight budget
- Primarily need protection, not cash value accumulation
Choose Whole Life Insurance if you:
- Need permanent lifetime coverage
- Want guaranteed cash value growth
- Are planning your estate
- Value predictability and guarantees
- Can afford higher premiums
Choose Indexed Universal Life (IUL) if you:
- Need permanent coverage with growth potential
- Want to build tax-advantaged retirement income
- Are comfortable with moderate complexity
- Value flexibility in premiums and death benefit
Choose Final Expense Insurance if you:
- Are a senior (ages 50-85)
- Want to cover funeral and burial costs
- Have health conditions that make other life insurance difficult to obtain
- Need affordable permanent coverage ($5,000-$35,000)
Not sure? Contact us for a free consultation—we’ll help you determine which type fits your needs and budget.
How much life insurance coverage do I need?
A common guideline is 10-12 times your annual income, plus additional coverage for debts and specific expenses.
Formula:
- Annual income × 10-12 = Base coverage
- PLUS: Outstanding mortgage balance
- PLUS: Other debts (car loans, student loans)
- PLUS: Children’s college costs ($100,000-$200,000 per child)
- PLUS: Final expenses ($10,000-$15,000)
Example:
- Income: $60,000 × 10 = $600,000
- Mortgage: $200,000
- Car loan: $25,000
- College (2 kids): $200,000
- Final expenses: $15,000
- Total recommended: $1,040,000
Use our free life insurance calculator or contact us for a personalized needs analysis.
Do I need a medical exam for life insurance?
It depends on the type and amount of coverage:
Medical Exam Required:
- Most term life insurance policies (for coverage over $100,000)
- Most permanent life insurance (whole life, IUL)
- Best rates available with exam
No Medical Exam Options:
- Simplified issue life insurance: Health questions only, no exam (slightly higher premiums)
- Guaranteed issue life insurance: No health questions or exam (highest premiums, limited coverage)
- Final expense insurance: Often no exam required
- Accelerated underwriting: Some carriers offer instant approval for healthy applicants without exams
The medical exam is free, scheduled at your convenience (home, office, or local clinic), and takes about 20-30 minutes. It includes blood pressure check, blood test, urine sample, height/weight, and basic health questions.
What happens if I die within the first two years of getting life insurance?
Most life insurance policies have a two-year contestability period.
During the contestability period:
- If you die, the insurance company can review your application to verify all information was accurate
- If they discover material misrepresentations (you lied about health conditions, smoking status, dangerous activities, etc.), they may deny the claim or reduce the death benefit
- If all information was accurate, the claim is paid in full
After the contestability period (2 years):
- Claims are generally paid without investigation (except in cases of fraud)
- The insurance company cannot contest the policy based on application information
This is why it’s CRITICAL to answer all application questions truthfully and completely. Lying on your application can result in your family receiving nothing when they need the death benefit most.
Can I have multiple life insurance policies?
Yes! Many people have multiple life insurance policies for different purposes.
Common scenarios:
- Employer group life insurance (1-2x salary) PLUS personal term life insurance (additional $500,000-$1,000,000)
- Term life insurance for temporary needs PLUS whole life or IUL for permanent coverage
- Life insurance laddering: Multiple term policies with different term lengths to match different obligations
Having multiple policies from different carriers provides:
- Higher total coverage than one carrier might offer
- Redundancy (if one carrier has issues, others are unaffected)
- Flexibility to drop specific policies as needs change
- Ability to match coverage durations with specific financial obligations
Total coverage across all policies is limited only by your insurability and ability to justify the coverage based on income and financial obligations.
What if I can’t afford life insurance premiums anymore?
You have several options depending on the type of policy:
Term Life Insurance:
- Reduce coverage amount – Lower your death benefit to reduce premiums
- Convert to permanent insurance – Many term policies allow conversion to whole life/IUL without a medical exam (higher premiums but permanent coverage)
- Let the policy lapse – Stop paying premiums and coverage ends (no penalties or fees)
- Shop for cheaper coverage – Rates may have decreased or other carriers may offer better prices
Permanent Life Insurance (Whole Life, IUL):
- Use cash value to pay premiums – If you’ve built cash value, use it to cover premium payments
- Reduce face amount – Lower the death benefit to reduce premiums
- Paid-up insurance – Convert to a smaller paid-up policy requiring no further premiums
- Extended term insurance – Use cash value to purchase term insurance for the full death benefit
- Policy loan – Borrow from cash value to pay premiums (with interest)
- Surrender the policy – Cash out the policy for surrender value (coverage ends, taxable if gains exceed premiums paid)
Contact us immediately if you’re struggling with premiums—we’ll help you explore options to maintain some coverage rather than letting your policy lapse completely.
How do beneficiaries file a life insurance claim?
Step-by-step process:
- Contact the insurance company – Call the claims department (number on policy documents)
- Provide policy information – Policy number, insured’s name, date of death
- Submit required documents:
- Certified death certificate (original)
- Completed claim form from insurance company
- Beneficiary’s government-issued ID
- Beneficiary’s Social Security number and banking information
- Wait for processing – Claims typically processed in 30-60 days
- Receive payment – Death benefit paid via check or direct deposit
Death benefits are generally income-tax-free to beneficiaries.
If you need help with the claims process, contact us—we assist beneficiaries with filing claims and resolving any issues.
What happens to my life insurance when I change jobs?
If you have employer group life insurance:
- Coverage typically ends when you leave the job (usually 30 days after termination)
- Some employer policies allow you to convert to individual coverage (without medical exam, but at higher rates)
- You may be able to port coverage to your new employer if they offer portable group life insurance
If you have personal life insurance (purchased outside of work):
- Nothing changes! Your personal life insurance is completely independent of your employment
- Coverage continues as long as you pay premiums
- This is why having personal life insurance is important—it follows you throughout your career
We always recommend US residents have personal life insurance in addition to any employer coverage. Employer life insurance typically provides only 1-2x your salary (often insufficient) and disappears when you change jobs.
Health Insurance FAQs
What’s the difference between ACA marketplace insurance and private insurance?
ACA Marketplace Plans (Healthcare.gov):
- Must cover essential health benefits
- Cannot deny coverage or charge more for pre-existing conditions
- Income-based subsidies available (can reduce premiums to $0-$50/month)
- Annual open enrollment (Nov 1 – Jan 15) or special enrollment periods
- All plans follow ACA regulations
Private Health Insurance (Off-Marketplace):
- Can be ACA-compliant plans sold off the marketplace (same rules, no subsidies)
- Can be short-term medical insurance (NOT ACA-compliant, excludes pre-existing conditions, limited benefits)
- Can be purchased year-round (depending on type)
- May have fewer regulatory protections
Most Louisiana residents benefit from purchasing through the ACA marketplace due to subsidy availability, even if you don’t think you qualify. We help you determine if you’re eligible for subsidies and compare marketplace vs. off-marketplace options.
How do I know if I qualify for ACA subsidies?
You may qualify for ACA premium tax credits (subsidies) if:
Income between 100-400% of Federal Poverty Level (FPL):
- Individual: ~$15,000-$60,000
- Family of 2: ~$20,000-$82,000
- Family of 3: ~$25,000-$104,000
- Family of 4: ~$31,000-$125,000
(Some earning above 400% FPL may still qualify if premiums exceed 8.5% of income)
Do not have access to affordable employer coverage (employer plan costing less than 9.12% of household income)
Are not eligible for Medicaid or Medicare
Are a U.S. citizen or lawfully present
Enhanced subsidies currently available through 2025 mean many middle-income families qualify for significant assistance. A family of 4 earning $75,000 could save $800+/month with subsidies.
We provide free subsidy calculations—contact us to see if you qualify.
What is a deductible, and how does it work?
A deductible is the amount YOU must pay out-of-pocket before your health insurance starts paying for covered services.
Example:
- Your health insurance has a $3,000 deductible
- You need surgery costing $10,000
- You pay the first $3,000 (your deductible)
- After that, insurance pays most of the remaining $7,000 (you may still owe coinsurance)
Important notes:
- Deductibles reset every calendar year (January 1)
- Preventive care is covered at 100% with NO deductible (annual checkups, screenings, immunizations)
- Once you meet your deductible, you typically pay coinsurance (a percentage) for additional services
- Family plans have both individual and family deductibles
Lower deductible = Higher monthly premium
Higher deductible = Lower monthly premium
Choose based on your expected healthcare use and financial situation.
What’s the difference between HMO, PPO, and EPO plans?
HMO (Health Maintenance Organization):
- ✅ Lowest premiums and out-of-pocket costs
- ✅ Must choose a primary care physician (PCP)
- ✅ Need referrals to see specialists
- ❌ No out-of-network coverage (except emergencies)
- Best for: Those wanting low costs who don’t mind referral requirements
PPO (Preferred Provider Organization):
- ✅ No PCP requirement
- ✅ See specialists without referrals
- ✅ Out-of-network coverage available (at higher cost)
- ❌ Higher premiums and deductibles
- Best for: Those wanting maximum flexibility and broader networks
EPO (Exclusive Provider Organization):
- ✅ No PCP requirement
- ✅ See specialists without referrals
- ✅ Lower premiums than PPO
- ❌ NO out-of-network coverage (except emergencies)
- Best for: Those wanting flexibility without referrals but willing to stay in-network
We help you compare networks, costs, and features to find the right plan type for your needs.
What is an out-of-pocket maximum?
The out-of-pocket maximum is the MOST you’ll pay for covered healthcare services in a year.
Once you reach this limit, your insurance pays 100% of covered services for the rest of the year.
What counts toward out-of-pocket maximum:
- Deductibles
- Copays
- Coinsurance
What does NOT count:
- Monthly premiums
- Services not covered by your plan
- Out-of-network care (for most plans)
- Costs above usual and customary charges
Example:
- Your out-of-pocket maximum is $8,000
- You have major surgery and treatments during the year
- You pay $8,000 total (deductible + coinsurance)
- Once you hit $8,000, insurance pays 100% of everything else that year
2025 ACA limits: $9,200 individual / $18,400 family maximum
The out-of-pocket maximum protects you from catastrophic medical costs.
Can I keep my doctor with ACA marketplace insurance?
Maybe. It depends on the plan’s network.
Before enrolling:
- Check if your doctor is in-network – Use Healthcare.gov provider search or call your doctor’s office
- Verify your hospital is in-network
- Confirm your specialists are covered
Louisiana ACA marketplace includes these carriers (networks vary):
- Blue Cross Blue Shield of Louisiana (largest network)
- HMO Louisiana
- Ambetter
- UnitedHealthcare
- Humana
Most doctors accept at least one ACA marketplace carrier. We help you find plans that include your preferred providers.
If your doctor is out-of-network:
- You can see them but pay more (for PPO plans) or receive no coverage (for HMO/EPO plans)
- Consider choosing a plan where they’re in-network
- Ask your doctor if they’re joining any marketplace plan networks
What happens if I miss ACA open enrollment?
You must wait until next open enrollment (November 1 – January 15) UNLESS you qualify for a Special Enrollment Period (SEP).
You qualify for SEP if you experience:
- Loss of health coverage (job loss, COBRA ending, aging off parent’s plan)
- Marriage or divorce
- Birth or adoption of a child
- Moving to another state
- Becoming a U.S. citizen
- Release from incarceration
- Income changes affecting Medicaid eligibility
You have 60 days from the qualifying event to enroll.
If you don’t qualify for SEP:
- You’ll be uninsured until next open enrollment
- Consider short-term medical insurance as a temporary bridge (limited coverage, excludes pre-existing conditions)
Contact us immediately if you’ve experienced a qualifying life event—don’t miss the 60-day enrollment window!
Is short-term health insurance a good option?
Short-term medical insurance can work for LIMITED situations, but it’s NOT comprehensive health coverage.
When short-term MIGHT make sense:
- Bridging a gap of 1-4 months between jobs
- Missed ACA open enrollment and don’t qualify for special enrollment
- Waiting for Medicare or employer coverage to start
- Young, healthy, and need catastrophic protection only
MAJOR limitations of short-term insurance:
- Does NOT cover pre-existing conditions
- Excludes many essential health benefits (maternity, mental health, prescriptions)
- Limited to 3-4 months in some states
- Can be denied based on health
- No subsidies available
- NOT ACA-compliant
Short-term insurance is NOT appropriate if you:
- Have pre-existing conditions
- Take prescription medications
- Are pregnant or planning pregnancy
- Need comprehensive coverage
- Qualify for ACA subsidies (subsidized ACA plans may cost less)
We honestly assess whether short-term insurance makes sense for your situation or if better options exist.
Do I need supplemental insurance if I have health insurance?
Possibly. Supplemental insurance fills gaps in your major medical coverage.
Consider supplemental insurance if you:
- Have a high-deductible health plan ($3,000-$8,000+ deductible)
- Worry about out-of-pocket costs from hospitalizations or serious illness
- Live paycheck-to-paycheck with limited emergency savings
- Are self-employed (can’t work = no income)
- Have family history of cancer or other serious illnesses
- Have active children prone to accidents
Types of supplemental insurance:
Hospital Indemnity: Pays cash when hospitalized (use for any expense)
- Good for: High-deductible plans, protecting savings
Accident Insurance: Pays cash for accident injuries (ER visits, fractures, etc.)
- Good for: Active families, sports participants
Cancer Insurance: Pays lump sum + ongoing benefits if diagnosed with cancer
- Good for: Family cancer history, cancer concerns
Critical Illness: Pays lump sum if diagnosed with heart attack, stroke, cancer, etc.
- Good for: Serious illness protection
Supplemental insurance doesn’t replace major medical insurance—it works WITH it to provide additional financial protection.
Working with Verdant Insurance
How much do your services cost?
Our services are FREE to you.
We’re compensated by insurance carriers when you purchase coverage—you pay the same price whether you buy directly from the carrier or through our agency. There’s no markup, no fees, and no cost to you for our consultation, quotes, comparisons, or enrollment assistance.
Benefits of working with us:
- We compare multiple carriers (you get one agent shopping many companies)
- We provide unbiased guidance
- We handle paperwork and follow-up
- We provide ongoing service after enrollment
- You get personal attention from a Verdant agent.
It costs nothing to get quotes or have a consultation—contact us today!
Do you only sell insurance from certain companies?
We’re independent agents, meaning we represent multiple insurance carriers.
We work with 15+ top-rated life and health insurance companies, including:
- Blue Cross Blue Shield of Louisiana
- Mutual of Omaha
- UnitedHealthcare
- Humana
- MetLife
- Guardian Life
- And many others
We don’t represent EVERY carrier in the market, but we work with enough carriers to provide competitive options for most US residents.
Being independent means our loyalty is to YOU, not to any single insurance company. We help you find the best coverage at the best price from the carriers we represent.
How quickly can I get a quote?
Life Insurance Quotes: 10-15 minutes
- We gather basic information (age, health status, coverage needs)
- Provide instant estimates from multiple carriers
- Can email detailed comparisons same day
Health Insurance Quotes: 15-20 minutes
- We assess household size, income, current coverage
- Calculate ACA subsidy eligibility (if applicable)
- Show available plans and costs
- Can complete quote during first call or meeting
Request a quote online or call us at 337-202-2298 for immediate assistance.
What information do I need to get a quote?
Life Insurance Quote:
- Age and date of birth
- Gender
- State of residence
- (Tobacco use (yes/no)
- General health status (excellent, good, fair, poor)
- Coverage amount desired
- Term length or type of permanent insurance
Health Insurance Quote:
- Household size (number of people to be covered)
- Ages of all household members
- Total household income (estimate)
- Whether you have employer coverage available
- Current coverage status
- Preferred doctors/hospitals (optional, to check networks)
We keep your information confidential and never share it without your permission.
How long does it take to get approved for insurance?
Life Insurance:
- Simplified issue (no exam): 1-7 days
- Traditional (with exam): 2-6 weeks
- Accelerated underwriting: 24-48 hours for healthy applicants
- Final expense (guaranteed issue): Instant approval
Health Insurance:
- ACA marketplace: Enrollment processed immediately, coverage starts 1st of month
- Short-term medical: 24-48 hours
- Dental/Vision: Immediate enrollment, coverage starts within 30 days
- Supplemental insurance: 24-48 hours typically
We follow up on all applications and keep you informed throughout the process.
What if I already have insurance but want to compare rates?
Absolutely! We help residents compare their current coverage to see if better options exist.
We’ll review:
- Your current premiums vs. market rates
- Your coverage adequacy
- Whether you’re overpaying or underinsured
- Newer products that may better fit your needs
- ACA subsidy eligibility (many don’t know they qualify)
There’s no obligation. Even if your current coverage is great, we’ll confirm you’re getting good value. If we find better options, we’ll show you the comparison so you can decide.
Contact us for a free coverage review.
How do I contact Verdant Insurance Solutions?
Phone: 337-202-2298
Email: sperkinsverdant@gmail.com
Office Hours:
- Monday-Friday: 9:00 AM – 6:00 PM
- Saturday: 10:00 AM – 4:00 PM
- Sunday: Closed
Request a Quote: Get Your Free Quote
Still Have Questions?
We’re here to help! If you didn’t find the answer you were looking for, contact us:
📞 Call: 337-202-2298
💻 Email: sperkinsverdant@gmail.com
📝 Request a Quote: Get Your Free Quote
Our licensed Louisiana insurance agents are happy to answer your questions, provide personalized guidance, and help you find the right coverage for your family.
No question is too small. No situation is too complex. We’re here to make insurance simple.
Verdant Insurance Solutions – Your Friendly Life & Health Insurance Experts
