Posts By: Ryan Hickman

What is a beneficiary?

by Ryan Hickman • December 1, 2019

A beneficiary is the person, will, or trust designated as the recipient of the funds after a claim is made on the life insurance policy.


What does life insurance cover?

by Ryan Hickman • December 1, 2019

Typically, life insurance payouts are used to cover expenses like home mortgages, burial expenses, college tuition, existing debt, medical bills, living expenses, cosigned debt, or any other expenses your loved ones may have. That said, your beneficiaries ultimately decide how to use the cash payout.


Is the death benefit taxed?

by Ryan Hickman • December 1, 2019

In most cases, the death benefit is not taxed. That said, if you are doing something less common like distributing the death benefit in installments while investing it, or including the benefit as part of an estate, there may be tax penalties for the beneficiary. Make sure to check with an accountant or financial advisor […]


Is my life insurance through work enough?

by Ryan Hickman • December 1, 2019

Employer-sponsored life insurance is a great benefit, but it’s usually not enough coverage to protect most families. Most employer-sponsored policies offer coverage that is one to two times your annual salary. So if you make $50,000 per year, your employer may offer $100,000 in life insurance coverage at very little cost to you. While this […]


How long does it take to apply?

by Ryan Hickman • December 1, 2019

With Simple Life, you can apply for life insurance in just minutes. Upon completing the application, some applicants are approved instantly for coverage! Otherwise, our underwriting process usually only takes about 7-10 business days to complete.


Do I need life insurance?

by Ryan Hickman • December 1, 2019

If something happens to you during your prime earning years, your loved ones don’t just lose you—they also lose the financial future you’ve been building. If you have a partner, children, or elderly parents who depend on you for support (financial or otherwise), then term life insurance can be a great way to secure their […]