FAQ

Frequently Asked Insurance Questions

Here are the most common insurance questions Jaquenette Ferguson receives.

Our insurance agents are always available to answer any questions and address any concerns you may have. Call us at (240) 476-9562 for any further inquiries.

Is the rate given to me accurate?

Our team makes sure to provide you with the most accurate rate possible so that you know what to expect. If anything, the estimate we give you is higher than the actual price as we rather underpromise and overdeliver.

My current insurance company has significantly increased my rate. How can I get a lower rate?

If your current insurance company has increased your rate, you can be sure to find lower rates with Jaquenette Ferguson. Our insurance agents are here to find you the most competitive prices on the market today, and we’ll fit you with an insurance package that suits both your needs and your budget.

Is there a fee for getting an insurance quote?

With us, there isn’t.

Book a no-obligation consultation with our team, and you’ll receive free insurance quotes from different carriers so that you can easily compare and contrast. We work with you to find the right insurance quote, no strings attached.

What is a deductible?

When submitting an insurance claim, a deductible is an amount you’re responsible for before the insurance company covers the rest.

As your dedicated insurance agents, we do our best to introduce you to carriers with the lowest deductibles so that you barely ever have to pay out of pocket. This way, not only will you shop the most competitive rates, but you’ll also discover trustworthy lenders that prioritize their clients.

What does a Lapse mean in insurance?

A laspe occurs when you stop paying on the premium of your policy. You will have a short grace period to make full payment. We recommend avoiding an insurance lapse as this can result in costly consequences and/or loss of coverage.

When should I review my insurance protection?

At Jaquenette Ferguson, we believe it’s a good idea to review your insurance protection at least once a year. Still, if you have gone through a significant life change, it’s best to check in with us as soon as possible.

Get in touch with us now at (240) 476-9562 to schedule an appointment.

How do limits and deductibles impact my premium?

Your premium is how much you pay your insurance company regularly to keep your coverage in place. Depending on the insurance type and specific policies, you can pay your premium monthly, quarterly, biannually, or annually. Whether life insurance or health insurance, limits and deductibles are common factors that affect your premium rates.

An insurance limit is the maximum amount covered when making a claim—usually, the higher your coverage limit, the higher your premium. Our insurance agents can guide you in the right direction when it comes to pinpointing the perfect coverage limit for your needs. And they’ll stay on budget, too!

An insurance deductible is the amount of money you have to pay out of pocket for a covered claim. Generally, you may be able to save money on premiums by selecting policies with higher deductibles. However, we highly advise consultation with our insurance professionals to see what’s in your best interest to properly meet your needs.

What types of life insurance policies do you offer?

We offer term life, whole life, universal life, and specialized senior life insurance policies. During your consultation, we evaluate your financial goals to recommend the coverage type that best protects your family or estate.

How do Medicare Advantage and Medicare Supplement plans differ?

Medicare Advantage bundles hospital, medical, and often prescription coverage into one plan, while Medicare Supplement works alongside Original Medicare to cover out-of-pocket costs. Our agents review your eligibility, healthcare needs, and budget to help you choose the right option.

Can my business offer employee health and retirement benefits?

Yes. We specialize in personalized employee insurance solutions including group health insurance, dental and vision plans, disability coverage, employee retirement plans, and supplemental retirement options designed to fit your business budget and help retain top talent.

When is the right time to purchase life insurance?

The earlier you purchase life insurance, the lower your premium will be. It's especially important if you have dependents, a mortgage, outstanding debts, or a business. Seniors can still access affordable options like final expense and guaranteed life insurance policies.

What does long-term care insurance typically cover?

Long-term care insurance can cover in-home caretakers, assisted living facilities, nursing homes, and community services for those unable to care for themselves due to cognitive or physical impairments. It helps preserve your assets and reduces the financial burden on family caregivers.

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

Term life insurance is the most affordable option, covering a fixed period and ideal for younger individuals starting out. Whole life insurance is permanent, never expires, and can build cash value over time — making it a longer-term asset for your estate or retirement strategy.

How do annuities support retirement income planning?

Annuities are insurance contracts that grow your contributions tax-deferred and pay out income in retirement. You can choose deferred annuities for future growth or immediate annuities for a lump-sum investment that generates steady income — with no maximum contribution limit.

Why should I consider disability insurance coverage?

Disability insurance replaces a portion of your income if illness or injury leaves you unable to work. Short-term policies cover weeks to months, while long-term policies can extend payments until you return to work or retire — protecting your finances during unexpected hardships.

Is prescription drug coverage included in standard health plans?

Most standard health and basic Medicare plans do not cover all prescription medications. A standalone Medicare Part D plan or supplemental prescription drug plan ensures access to the medications you need at consistent, predictable costs rather than paying out of pocket for each prescription.

What factors affect the cost of an individual health insurance plan?

Key cost drivers include your age, overall health and medical history, family size, desired coverage level, deductibles, and whether you need add-ons like dental, vision, or prescription coverage. A licensed agent can compare plans across carriers to find the best value for your budget.