Question 1

How much life insurance do I need?

Accepted Answer

A good rule of thumb is 10–12× your annual income, plus your mortgage and any major debts. For families with young children, factor in future college and childcare. I'll help you calculate the exact number — free of charge.

Question 2

What is the difference between term and whole life insurance?

Accepted Answer

Term life covers you for a set number of years (10, 20, 30) at a low, level premium. Whole life lasts your entire lifetime, costs more, and builds cash value you can borrow against. Term is great for protecting income and mortgages; whole life is great for permanent protection and legacy planning.

Question 3

Can I get coverage with health conditions?

Accepted Answer

Yes. Through Transamerica I have options for diabetes, high blood pressure, heart conditions, cancer history, and more — including guaranteed-issue policies that can't deny you for health reasons.

Question 4

How much does life insurance cost?

Accepted Answer

Most healthy Eastern Kentucky families pay $20–$60 a month for meaningful term coverage. Whole life and final expense vary based on age and amount. The best way to know is a free, no-obligation quote.

Question 5

How quickly can I get approved?

Accepted Answer

Some applicants are approved within hours through simplified-issue policies. Most traditional applications are decided within a few days to a week. I'll walk you through every step.

Question 6

What happens if I miss a payment?

Accepted Answer

Most policies have a 30-day grace period — your coverage stays in force and you can pay without penalty. After that, the policy could lapse, but it can often be reinstated. Call me right away if you have trouble paying.

Question 7

Can life insurance help cover funeral expenses?

Accepted Answer

Absolutely — that's exactly what final expense insurance is designed for. A small whole-life policy ($10K–$15K) pays out within days, so your family isn't paying for the funeral out of pocket.

Question 8

Will my premium go up over time?

Accepted Answer

On term and whole life policies through Transamerica, your premium is locked in for the life of the policy. It will not increase as you age.

Question 9

Is the death benefit taxed?

Accepted Answer

In almost all cases, life insurance death benefits are paid to beneficiaries 100% income-tax free.

Question 10

Do I need a medical exam?

Accepted Answer

Many policies don't require one. We have no-exam and simplified-issue options that rely on a short health questionnaire and database checks.

Question 11

Can I have more than one life insurance policy?

Accepted Answer

Yes. Many families layer policies — for example, a 20-year term for the mortgage plus a small whole life for permanent coverage and final expenses.

Question 12

What areas do you serve?

Accepted Answer

I serve all of Eastern Kentucky — Pikeville, Prestonsburg, Paintsville, Hazard, Whitesburg, Williamson, and surrounding Appalachian communities. Meetings can be in-person, by phone, or video.

Straight answers to the questions families ask most.

Life insurance, explained simply.

Have questions? Sherman has answers.

Ready when you are.