Frequently Asked Questions about Life Insurance

Golden Shield Life Insurance was founded and is led by Aaron Polk, a licensed life insurance agent with a background in medical underwriting. Aaron started the agency after a 2007 accident left him paralyzed and showed him how fast a steady life can change. Today he and his team help families compare coverage across the USA.

Our office is at 1954 Airport Rd, Atlanta, GA 30341, and we answer calls 7 days a week from 7:00 AM to 11:00 PM ET. You can meet in person by appointment, or work with us by phone, text, or video from anywhere in the USA. Book an appointment.

We compare more than 130 insurance companies, including well-known names such as Banner Life, Mutual of Omaha, Corebridge Financial, Americo, Pacific Life, Foresters Financial, and Ethos. Which ones fit you depends on your age, health, state, and the type of coverage you want.

Clients often mention clear explanations, no pressure, and help finding coverage for the whole family. You can read real Google reviews and watch client video stories on our Reviews page.

No. Quotes, comparisons, and advice are free, with no obligation. Like most agencies, we are paid by the insurance company when a policy is issued, so you do not pay us a fee. See our advertiser disclosure for details.

Yes. You can reach a licensed Golden Shield Life Insurance agent by phone, text, chat, live video, or in person at our Atlanta office. The agent you speak with first stays with you through the application, policy delivery, and any questions later on.

No. Our office is in Atlanta, but Golden Shield Life Insurance serves families across the USA through agents licensed in each client’s state. Most of our clients work with us by phone or video.

Families, seniors, veterans, business owners, first-time buyers, and people with complex health histories. If another agent told you no, we are glad to take a second look.

You do not have to choose. Golden Shield Life Insurance is an independent agency and an appointed Ethos agent, so you can apply with Ethos through us or compare Ethos with other insurance companies first. Read our Ethos Life Insurance Reviews to learn more.

Sometimes, yes. Some insurance companies approve eligible applicants the same day using digital underwriting, which checks your prescription history and MIB records with your permission instead of a medical exam. Timing depends on your health, the policy, your state, and the insurance company.

Anyone whose death would leave someone else with bills, debts, or lost income. That often includes parents, spouses, homeowners with a mortgage, business owners, and people who want to leave money for final expenses so their family does not have to.

A common starting point is enough to pay off debts like a mortgage, replace several years of income, and cover final expenses and future costs such as college. Your agent can walk through the numbers with you so you do not buy too little or pay for more than you need.

Usually, the younger and healthier you are, the lower your price. Rates generally rise with each birthday and with any new health issue, so many people find it costs less to buy sooner rather than later.

Often, yes. Many conditions, like controlled diabetes or high blood pressure, can still qualify for regular coverage. If health makes that hard, guaranteed issue life insurance asks no health questions. Each insurance company views health differently, which is why comparing several matters.

Many insurance companies offer non-tobacco rates after about 12 months without nicotine, and some require longer for their best price classes. Vaping, nicotine gum, and patches often count as tobacco. Some companies treat an occasional cigar more gently than others, so we shop that for you.

Usually only if you have an insurable interest, meaning you would be harmed financially if they died, and the person agrees and signs the application. Spouses, parents and children, and business partners are common examples.

Life insurance paid because of the insured’s death is generally not income-taxable to the beneficiary under federal law. Interest on a delayed claim can be taxable, and very large estates may owe estate tax. Ask a tax professional about your situation.

Yes. Most policies include a free look period, often at least 10 days and longer in some states, when you can cancel for a refund of premiums. After that, you can usually cancel anytime. Permanent policies may pay a cash surrender value, minus any surrender charges.

Usually the first two years of a policy, when the insurance company can review a claim and the original application for missing or incorrect information. Answering every health question honestly is the best way to protect your family’s claim. See more terms in our Life Insurance Translator.

Coverage for a set number of years, often 10, 15, 20, 25, or 30. If you pass away during the term, your beneficiaries receive the death benefit. It is usually the lowest-cost way to get a large amount of coverage. Learn about term life insurance.

Coverage ends unless you act. Many policies let you keep coverage year to year at a much higher price, and many let you convert to a permanent policy without new health questions before a deadline. We help clients plan for this years in advance.

Many term policies include a conversion privilege that lets you switch to permanent coverage without a medical exam, often until a certain age or policy year. This can matter a lot if your health changes. Check your policy for the exact deadline.

Not with standard term. A return of premium term policy refunds your base premiums if you outlive the term, but it costs noticeably more, and canceling early may return little or nothing.

Yes, for many applicants. Several insurance companies offer no-exam term coverage using data checks, sometimes with a decision in minutes. Amounts and eligibility vary by age and health. See no medical exam term life.

Match the term to your longest need, such as the years left on your mortgage or until your youngest child is grown. Many families choose 20 or 30 years. Some layer two policies to lower the cost as needs shrink.

For most families who need large coverage at a low price, term is often the best value. It does not build cash value, so people who want lifelong coverage or savings may compare whole life or IUL too. Compare term life insurance quotes.

Yes. You can own multiple term life insurance policies from different insurance companies, as long as you qualify for the combined coverage amount. Some families layer policies with different term lengths to match needs that shrink over time.

Some policies allow coverage increases, but most require a new application and underwriting based on your current age and health. If you think you may need more coverage later, it often costs less to buy it now.

Yes. Term life insurance generally covers accidental death, subject to the policy’s exclusions, and some policies offer an added accidental death benefit rider for extra coverage.

Yes. As the policy owner, you can generally change your beneficiaries anytime by sending a request to your insurance company, unless you named an irrevocable beneficiary. We can help with the form.

Yes. You can have both employer-provided and private term life insurance. Work coverage is often only one or two times your salary and may end if you leave your job, while a private policy stays with you no matter where you work.

Most policies include a grace period, typically 30 or 31 days, that lets you catch up before your coverage may lapse. Call us right away if you miss a payment, because a quick payment usually fixes it.

No. Once your policy is active, changes in your health generally cannot cause cancellation as long as premiums are paid, your application was accurate, and policy terms are met. Your price also stays level for the term.

Permanent coverage that lasts your entire life as long as premiums are paid. Premiums are usually fixed, the death benefit is guaranteed, and the policy builds cash value at a guaranteed rate. Learn about whole life insurance.

Part of each premium goes into the policy’s cash value, which grows over time. You may be able to borrow against it, withdraw from it, or use it to help pay premiums. Growth is slow in the early years because of policy costs. Loans and withdrawals reduce the death benefit.

A paid-up policy needs no more premiums and stays in force for life. Some whole life policies are designed to be paid up after 10 or 20 years or by a certain age. Dividends on some policies can also be used to buy paid-up additions.

Some do. Participating whole life policies may pay dividends when the insurance company’s results are better than expected. Dividends are not guaranteed, even from companies with a long history of paying them.

Whole life policies have a maturity age, often 100 or 121 on newer policies. If you reach it, the policy typically pays out its value to you and ends. Many newer policies are built so coverage can continue for life.

Neither is better for everyone. Whole life costs more but lasts for life and builds cash value. Term costs less for more coverage but ends. Many families combine both. Compare whole life insurance quotes.

Yes, often. Depending on your age, health, and coverage amount, $50 a month may buy a smaller whole life insurance policy with fixed premiums and lifetime coverage. See whole life insurance quotes.

Yes. Many insurance companies offer whole life insurance without a medical exam, although approval may still depend on your health history and medications. Learn about no medical exam life insurance.

Yes. Many people with pre-existing conditions qualify for whole life insurance, and guaranteed issue policies offer options with no health questions at all.

Traditional whole life insurance generally provides full coverage from day one, while some guaranteed issue policies have a two-year graded death benefit period for deaths from natural causes.

Depending on the policy, it may enter a grace period, use available cash value to keep coverage going, convert to a smaller reduced paid-up policy, or lapse. Call us before you stop paying so we can review your options.

Yes. Limited-pay whole life policies let you finish scheduled premium payments in 10, 15, or 20 years, or by a certain age, while keeping lifelong coverage. Payments are higher, but they end sooner.

You can generally borrow once your policy has built enough cash value, which often takes several years. The amount available and the timing depend on your insurance company’s rules.

In most traditional whole life policies, your beneficiaries receive the death benefit, not the cash value as a separate payment. Any outstanding loans are subtracted from the payout.

Yes. A denial from one insurance company does not mean others will decline you, and simplified issue or guaranteed issue whole life policies may offer alternatives. We are glad to take a second look.

Yes. You can own multiple whole life insurance policies from different companies, as long as you meet each company’s eligibility and financial underwriting requirements.