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Insurance FAQ and Links


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Many people have questions about insurance and their coverage. On this page we will answer some common questions and also provide links to other insurance-related sites.

Below are some common insurance questions. We will update this page frequently, so be sure to check back! 

Q: Are all life insurance policies alike?
A: No, there are many different types of policies. It is important to choose the one that is right for you and your family. 
Q: What kind of life insurance policies are available?
A: Companies underwrite whole life, term, and various universal life, variable premium policies.
Q:  What is whole life?
A: A policy providing low premiums payable until death or age 100.  Some policies pay-up in a period of 10 years or 20 year.  The premiums a slightly higher, but the coverage is for the insured's lifetime.
Q: Why purchase term insurace?
A: Term insurance provides protection for a specific purpose and time period.  For example, while paying a mortgage as a young family, term insurance will settle the mortgage upon the death of the breadwinner.  Term insurance is also combined with an investment strategy.  A large level term policy provides coverage with a smaller premuim and the difference between the larger whole life premium is invested in a retirement program.  Term insurance provides large coverage for less money, and provides the client with the opportunity to convert to a permanent plan without evidence of insurability.  Term is great for a young family.
Q: What is the fdiffernce between life insurance and final expense or burial insurance?
A: Life insurance is to keep the family going after the death of the primary breadwinner.  Usually 4-5 times the salary is considered enough to allow the family to meet certain income replacement needs for the next few years.  Final expense or burial insurance provides for the funeral needs.  Too often families use the insurance set aside for future income needs to bury the breadwinner.  This decreases the amount needed in the "struggle stage" of life after a death.  A quality final expense program in conjuction with a local funeral home will cover the needs associated with death. 

Useful Links

The Hobson Agency represents the following companies.
Check out the company links:

If you have an insurance-related question, e-mail us and we'll answer it on this page:

Hobson Insurance Agency
P.O. Box 3525
Hueytown, AL 35023

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