FAQs — Sharpe Capital Realty LLC

Question 1

How much life insurance do I actually need?

Accepted Answer

A common rule of thumb is 10–12 times your annual income, but the right amount depends on your debts, dependents, income replacement needs, and future goals like college funding. During your free consultation, we'll walk through a personalized needs analysis so you get coverage that fits your actual situation — not a generic estimate.

Question 2

What's the difference between term and whole life insurance?

Accepted Answer

Term life provides coverage for a set period (10, 20, or 30 years) and pays a death benefit if you pass away during that term. It's typically the most affordable option. Whole life covers you for your entire life and builds cash value over time. The right choice depends on your budget, goals, and how long you need coverage. We help you compare both so you can decide with confidence.

Question 3

What is Indexed Universal Life (IUL) insurance?

Accepted Answer

An IUL is a permanent life insurance policy that builds cash value tied to a stock market index (like the S&P 500) — with a floor that protects you from market losses. It offers a death benefit plus a tax-advantaged savings component that can be used for retirement income. IULs are more complex than term or whole life, so we take time to explain exactly how they work before recommending one.

Question 4

Can I get life insurance if I have a pre-existing health condition?

Accepted Answer

Yes, in many cases. Some carriers specialize in coverage for people with health conditions like diabetes, high blood pressure, or a history of cancer. Rates may be higher, but coverage is often still available. We work with multiple carriers to find the best fit for your health profile.

Question 5

Is mortgage protection insurance the same as PMI?

Accepted Answer

No — they're very different. PMI (Private Mortgage Insurance) protects the lender if you default on your loan. Mortgage protection insurance protects your family by paying off or covering your mortgage payments if you die, become disabled, or face a critical illness. PMI benefits the bank; mortgage protection benefits your loved ones.

Question 6

Do I need mortgage protection if I already have life insurance?

Accepted Answer

It depends. A life insurance policy may cover your mortgage, but the death benefit goes to your beneficiary to use however they choose — it's not guaranteed to pay off the home. Mortgage protection insurance is specifically designed to cover your mortgage balance, ensuring your family keeps the house regardless of other financial pressures they may face.

Question 7

When is the best time to get mortgage protection insurance?

Accepted Answer

Ideally, when you close on your home or shortly after. Premiums are lower when you're younger and healthier, and the coverage amount can be matched to your current mortgage balance. That said, it's never too late — we can help you find coverage even if you've had your mortgage for years.

Question 8

What does final expense insurance cover?

Accepted Answer

Final expense insurance (also called burial insurance) is a small whole life policy — typically $5,000–$25,000 — designed to cover end-of-life costs like funeral and burial expenses, medical bills, and other debts. It ensures your family isn't left scrambling to cover these costs during an already difficult time.

Question 9

Is final expense insurance only for seniors?

Accepted Answer

While it's most commonly purchased by people aged 50–85, anyone can benefit from final expense coverage. Premiums are significantly lower when you're younger, so getting coverage early locks in a better rate. It's also a good option for people who don't qualify for larger life insurance policies due to health issues.

Question 10

Will I need a medical exam for final expense insurance?

Accepted Answer

Most final expense policies are simplified issue or guaranteed issue — meaning little to no medical exam required. Simplified issue asks a few health questions; guaranteed issue accepts virtually everyone regardless of health. Guaranteed issue policies typically have a 2-year waiting period before the full death benefit is paid.

Question 11

How can I create tax-free retirement income?

Accepted Answer

Two popular strategies are Indexed Universal Life (IUL) insurance and Roth IRAs. IUL policies accumulate cash value on a tax-deferred basis, and withdrawals through policy loans are generally tax-free. Roth IRAs grow tax-free and allow tax-free withdrawals in retirement. We help you understand which combination makes sense for your income level and retirement timeline.

Question 12

What is an annuity and is it right for me?

Accepted Answer

An annuity is a contract with an insurance company where you make a lump-sum payment or series of payments in exchange for regular disbursements — either immediately or in the future. They're designed to provide guaranteed income you can't outlive. Annuities come in fixed, variable, and indexed varieties. Whether one is right for you depends on your risk tolerance, timeline, and income needs in retirement.

Question 13

How does real estate fit into a financial plan?

Accepted Answer

Real estate can provide passive rental income, long-term appreciation, and portfolio diversification. Strategies like buy-and-hold rentals, house hacking, and the BRRRR method allow investors to build equity while generating cash flow. We provide education on how real estate can complement your insurance and retirement strategy — we don't sell properties, but we help you understand the financial picture.

Question 14

What is the BRRRR method?

Accepted Answer

BRRRR stands for Buy, Rehab, Rent, Refinance, Repeat. The strategy involves purchasing a distressed property, renovating it to increase its value, renting it out for cash flow, then refinancing to pull out your equity and use it to buy the next property. It's a powerful way to scale a rental portfolio without needing large amounts of fresh capital for each purchase.

Question 15

Is the consultation really free?

Accepted Answer

Yes — completely. There's no cost, no obligation, and no pressure to purchase anything. Our goal is to educate you on your options so you can make the best decision for your family. If we're a good fit, great. If not, you'll still walk away with valuable knowledge.

Question 16

How long does a consultation take?

Accepted Answer

Our standard consultations are 30 minutes. That's enough time to understand your situation, explain your options clearly, and answer your questions. If you need more time, we're happy to schedule a follow-up.

Question 17

Are you independent or tied to one insurance company?

Accepted Answer

We're independent. That means we work with multiple carriers and can shop the market on your behalf to find the best coverage at the best price for your specific situation. We're not incentivized to push one company's products over another.

Question 18

What states do you serve?

Accepted Answer

We serve clients nationwide. All consultations are conducted remotely, so no matter where you're located in the United States, we can help you find the right coverage and financial strategy.

Frequently Asked Questions

Life Insurance

Mortgage Protection

Final Expense

Retirement & Wealth

Real Estate

Working With Us

Still Have Questions?