Find answers to the most common questions about life insurance, annuities, and our services
LSM Financial is an independent insurance agency specializing in life insurance, annuities, and retirement planning solutions. We work with multiple top-rated insurance carriers to find the best coverage for your unique needs.
What makes us unique is our commitment to giving back—1% of our earnings go to charitable organizations chosen by our clients.
When you purchase a policy through LSM Financial, 1% of our earnings from your policy goes directly to a charity of your choice. You can select from categories including education, healthcare, environmental conservation, or community development.
There's no extra cost to you—this donation comes from our commission. It's our way of ensuring that your insurance purchase creates positive ripple effects beyond your own family's protection.
Getting started is easy! You can:
We'll schedule a free consultation to discuss your needs, answer your questions, and provide personalized recommendations—no pressure, no obligation.
No! Our consultation and advisory services are completely free to you. We are compensated by insurance carriers when you purchase a policy, so there are no out-of-pocket costs for our expertise and guidance.
You'll only pay your insurance premiums to the carrier you choose—the same amount you'd pay if you went directly to them. The advantage of working with us is that we shop multiple carriers to find you the best coverage at the best price.
If anyone depends on your income—spouse, children, aging parents—then yes, you likely need life insurance. It ensures they can maintain their quality of life, pay bills, stay in their home, and cover future expenses if something happens to you.
Even stay-at-home parents should have coverage, as the cost to replace childcare and household management services is significant. Life insurance provides financial security and peace of mind.
A common rule of thumb is 10-12 times your annual income, but the right amount depends on your specific situation. Consider:
We'll help you calculate the right coverage amount during your free consultation based on your unique circumstances.
Term Life Insurance: Covers you for a specific period (10, 20, or 30 years). It's more affordable and ideal for temporary needs like mortgage protection or children's education. Coverage expires at the end of the term.
Whole Life Insurance: Covers you for your entire lifetime, builds cash value over time, and has fixed premiums that never increase. It's more expensive but provides permanent protection and a savings component.
Think of term as "renting" coverage and whole life as "owning" it. Many people use a combination of both.
It depends on the policy type and coverage amount. Many policies require a simple medical exam (blood test, height/weight check, basic health questions), which is free and can be done at your home or office at a time convenient for you.
However, we also offer no-exam policies for those who want faster approval or have medical concerns. These may have slightly higher premiums but provide quick coverage without the hassle of medical testing.
Yes! While some health conditions may increase your premiums, many people with diabetes, high blood pressure, heart conditions, or other health issues can still get coverage. We work with multiple carriers who specialize in different health situations.
Even if you've been declined before, we may be able to find a solution. We also offer guaranteed issue policies for those with serious health concerns—these policies don't require medical exams or health questions, though they typically have lower coverage amounts and waiting periods.
An annuity is a financial product that provides guaranteed income for retirement. You invest money now (either as a lump sum or through regular payments), and in return, you receive regular payments for a specified period or for the rest of your life.
Think of it as creating your own personal pension plan—guaranteed income that you can't outlive, no matter how long you live. Annuities also offer tax-deferred growth, meaning your money grows without annual taxes until you start taking withdrawals.
Annuities may be right for you if you:
They may not be ideal if you need quick access to large sums of money, are very young with long time horizons, or already have substantial guaranteed income. We'll help you determine if an annuity fits your retirement strategy during a consultation.
It depends on the payout option you choose:
We'll help you choose the right payout option to balance your income needs with beneficiary protection for your family.
The timeline varies depending on the policy type and whether a medical exam is required:
We'll guide you through each step and keep you informed of your application status. Once approved, coverage typically begins immediately upon your first premium payment.
You'll typically need:
We'll walk you through the application step-by-step and answer any questions along the way. The process is straightforward and we make it as easy as possible.
If one carrier declines you, that doesn't mean you can't get coverage. Because we work with multiple insurance carriers, we can shop your application to other companies that may have different underwriting guidelines.
We also have access to:
We'll work hard to find you coverage that fits your situation and budget.
We're here to help! Get personalized answers and expert guidance at no cost.