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Amplify life insurance FAQ
Trusted life insurance knowledge base
Why do I need life insurance outside work?
What is the difference between term and permanent life insurance?
Can I have both term and permanent life insurance?
Can I buy a policy for someone else?
Can my spouse and I get one policy?
Should I have multiple life insurance policies?
What if I have a life insurance policy from another country?
Can I have a beneficiary who lives in another country?
What is permanent life insurance?
What are the benefits and drawbacks of permanent life insurance?
Who is permanent life insurance suitable for?
Who is permanent life insurance NOT suitable for?
Is whole life insurance the same as permanent life insurance?
What are the different types of permanent life insurance?
How does tax efficient savings work in a life insurance vehicle?
What is the process for buying a life insurance policy through Amplify?
How long does it take to buy a policy?
Do I have to get a medical exam?
What is Amplify?
Who are the advisors and how are they compensated?
Why should I work with Amplify?
Do I pay more fees for using Amplify?
How does Amplify make money?
Is Amplify a licensed broker?
Where is Amplify based and how can I contact you?
Which insurance companies does Amplify work with?
Safety and regulation
What if the life insurance company goes bankrupt? What happens to my policy?
What regulations protect policyholders?
What body of government regulates life insurance?
How do life insurance companies make money?
What illnesses qualify me to take money out of my life insurance policy?
When can I access my life insurance coverage if I have a serious illness?
How much can I access if I had a serious illness?
If I take out money early for long term care or critical illness, will my life insurance coverage decrease?
What is long term care and why do I need it?
What is critical illness and why do I need it?
What is terminal illness?
How long do I have to pay my premiums for?
Can I just pay one lump sum premium and not have to pay anymore?
What is the benefit of paying more premiums earlier on?
Does my insurance premiums change over time?
What happens if I can’t pay my insurance premium? Do I lose my policy and money inside?
Can I change my premiums after getting the policy?
Can I choose my investments within the policy?
Can I change my investment strategy after getting the policy?
Do I need to take a medical exam?
Do I need to go to my own doctor for the medical exam?
What does the medical exam entail?
Why might some not qualify for a policy?
What are the fees associated with my life insurance policy?
Is there a penalty if I take out investment value early?
Policy payout and benefits
How can I access my policy information?
What does my family need to do to claim my policy after I die?
If something were to happen to me today, when and how does my coverage get paid out?
When will my life insurance not pay out?
When can I start taking out cash from my policy?
If I take out cash from my policy, will my life insurance coverage go down?
How do I take out money from my life insurance policy?
How much can I take out from my life insurance policy?
View all articles in “Policy payout and benefits”
Changing, transferring, or canceling policy
Can I change my coverage amount after getting the policy?
Who do I go to for policy changes?
What happens if I cancel my policy? Do I lose all my money?
Can I transfer my old life insurance policy to a new life insurance policy with Amplify?
How do I transfer my old life insurance policy to a new one?
When is a good idea to transfer a life insurance policy to a new one?
Taxes on life insurance policy
Do I have to pay taxes when I take out money in the future?
Do I have to pay taxes on my death benefit?
Do I have to pay taxes when taking out money for long term care, chronic illness, or terminal illness?
Does purchasing life insurance affect my income tax bracket?