Felix Quachey is an insurance agency owner, dedicated to helping families protect what matters most. As an insurance agency owner, Felix has been recognized with the American Star Award for outstanding service to his clients. An American of Ghanaian descent, a husband, father, and avid cyclist, he is also a passionate Manchester United soccer fan. Felix Quachey, spoke with the New Americans magazine publisher Deba Uwadiae on life insurance, appropriate age, pricing, types, benefits and options.   

Agency

The Felix S. Quachey Jr. Agency LLC of American Family Insurance is located at 1425 E Dublin Granville Rd, Ste 102, on the north side of Columbus. I chose to establish our agency in the heart of this community because I believe in being present and accessible to the people we serve. Our mission is to provide honest, professional service and to help protect what matters most to our neighbors. We’re dedicated to making a positive impact and building lasting relationships within our community. Our agency has been proudly serving the Columbus community for the past 15 years—and we look forward to many more.

Life Insurance

Life insurance is a way to help protect your family if something happens to you. If a person with life insurance dies, the insurance company gives money to their family. This money can help replace the income or paycheck that the person used to bring home, so their loved ones can still pay for important things like food, a home, or school. For many families, life insurance is also a way to leave a financial gift, or inheritance, to help support children and future generations. It’s like a promise to keep taking care of the people you love, even if you are not there. Many people are surprised to learn that life insurance is much more affordable than they think. In fact, according to the 2023 Insurance Barometer Study by LIMRA and Life Happens, most people overestimate the cost of life insurance by three times or more. For example, a healthy 30-year-old can often get $250,000 of term life insurance for less than $20 a month. (*Source: 2023 Insurance Barometer Study – LIMRA and Life Happens).

Age

You can get life insurance at almost any age. Some life insurance are for children, and some are for adults. Most people get life insurance when they are grown up, but parents can buy it for their children too.

It is very important to get life insurance when you are young. When you are younger, it is usually much cheaper and easier to get. If you wait until you are older or if you get sick, it can cost more or be harder to get life insurance. Getting it early helps make sure your family is always protected.

The price of life insurance depends on a few things:

• Your age
• Your height and weight
• If you are a smoker or non-smoker
• Your health when you apply

Types

There are two main types of life insurance:

Term life insurance: This lasts for a certain number of years, like 10, 20, or 30 years. If something happens during that time, your family gets money.

Whole life insurance: This lasts your whole life. As long as you pay for it, your family will get money when you pass away. Whole life insurance also has something called “cash value.” This means that, over time, your policy can grow money that you can use while you are still alive.

Life insurance helps protect your family and gives them money to help with important things if you are not there.

Other Coverage

Most people have some life insurance through their job. Usually, this coverage is only one or two times their yearly salary. This amount is often not enough to pay for final expenses or to support a family if something happens and there is only one income left.

Also, if you change jobs, you usually cannot take this life insurance with you. Sometimes, there can be a gap of up to 90 days before your new job’s life insurance starts—if your new employer even offers it.

That’s why I strongly encourage everyone to get extra life insurance outside of what your job provides. This is especially important for people who are self-employed or part of the new American community. Taking this step helps make sure your family is protected, no matter what happens.

(You can reach Felix Quachey by phone or text at 614-536-0237 or by email at fquachey@amfam.com. While walk-ins are always welcome, we recommend calling ahead to schedule an appointment so you can avoid waiting).

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