Life insurance is a financial product that provides a lump sum payment to your beneficiaries in the event of your death. It serves as a financial safety net, offering protection and support to your loved ones by helping cover expenses like mortgage, debts, and future living costs.

The amount of coverage you need depends on various factors such as your current financial situation, outstanding debts, future expenses, and the number of dependents. A good rule of thumb is to aim for a coverage amount that is at least 10 times your annual income.

In most cases the coverage amounts can only be reduced, but you may be eligible for higher amounts of coverage when buying an additional policy.

Premiums are influenced by factors such as your age, health, lifestyle, coverage amount, and type of policy. Generally, the younger and healthier you are when you purchase a policy, the lower your premiums will be. It's advisable to lock in a policy early to secure more favorable rates.

A beneficiary is the person or entity who receives the death benefit if you pass away. You can choose one or multiple beneficiaries, and they can be family members, friends, or even charitable organizations. It's crucial to regularly review and update your beneficiaries to reflect any changes in your life circumstances.

In most cases, life insurance coverage takes effect immediately upon approval and payment of the first month's premium. However, it's essential to carefully review the terms of your policy, as certain situations or policy types may have specific waiting periods. SmartBunny Term Life policy has exclusions such as suicide, acts of war or terrorism, and pre-existing medical conditions within the first 24 months of the policy.

No, we do not sell whole life policies and there is no cash value that can be borrowed against.

Please refer to the policy wordings for the full list of benefits, exclusions, and limitations. You can also contact our licensed agents at support@smartbunny.com if you have any additional questions.