Question 1

What are living benefits in life insurance?

Accepted Answer

Living benefits allow you to access a portion of your life insurance death benefit while you're still alive if you're diagnosed with a chronic, critical, or terminal illness. This money can be used for medical bills, mortgage payments, or any other expenses. The Tipton Agency specializes in policies with living benefits at no additional cost.

Question 2

What is an IUL and how does it help with retirement?

Accepted Answer

An Indexed Universal Life (IUL) policy is a type of permanent life insurance that builds cash value based on stock market index performance (like the S&P 500) while protecting you from market losses. The cash value grows tax-free and can be accessed tax-free in retirement through policy loans, making it an excellent supplement to 401(k)s and IRAs.

Question 3

How much life insurance do I need?

Accepted Answer

A common rule of thumb is 10-12 times your annual income, but the right amount depends on your specific situation including debts, mortgage balance, children's education costs, and your spouse's income. The Tipton Agency offers a free life insurance needs calculator and personalized consultations to determine your ideal coverage amount.

Question 4

How do I become a life insurance agent with The Tipton Agency?

Accepted Answer

The Tipton Agency offers 80% to 130% commission contracts with equity partnership opportunities. No prior experience is required - we provide comprehensive training, mentorship, and warm leads. You'll need to obtain your state life insurance license (we help with that too). Apply on our Careers page to start the process.

Question 5

What insurance carriers does The Tipton Agency work with?

Accepted Answer

As an independent agency, we work with 30+ top-rated carriers including Mutual of Omaha, Transamerica, Foresters Financial, Americo, F&G, Banner Life, SBLI, United Home Life, American Amicable, and Corebridge Financial. This allows us to shop multiple carriers to find you the best rates and coverage.

Question 6

What is mortgage protection insurance?

Accepted Answer

Mortgage protection insurance is a term life insurance policy designed to pay off your remaining mortgage balance if you pass away. This ensures your family can stay in their home without the burden of mortgage payments. Policies can also include living benefits for disability or critical illness.