Life insurance and annuity questions, answered plainly

TrueFin Services is an independent life insurance and annuity agency run by Nagendra (Nag) Sonti, an independent licensed agent. We help individuals and families compare term life insurance, indexed universal life (IUL), and annuities from multiple carriers in Arizona, California, New Jersey, South Carolina, Texas, and Virginia.

Nothing. The review is free and there is no obligation to buy. Agents are paid by the insurance company when a policy is placed, so you never pay us a fee.

Term life is the lowest-cost way to protect your family for a set period, such as 20 or 30 years. IUL costs more but lasts your whole life and can build cash value. Many families start with term and add IUL or convert later. The right answer depends on your budget, how long you need coverage, and whether you want a savings component.

We are currently licensed in AZ, CA, NJ, SC, TX, and VA and add states as clients need them. Call or email us with your state and we will tell you how quickly we can help.

Cost depends on your age, health, tobacco use, coverage amount, and term length. Rates are lowest when you are young and healthy and rise with age, so locking in coverage early usually costs less over time. We quote multiple carriers so you see the real number for your situation.

Pick a term that lasts until your biggest obligations end: usually when your youngest child is independent or your mortgage is paid off. Many families choose 20 or 30 years.

Coverage stops and premiums stop. Many policies let you convert to permanent coverage without a new medical exam before a deadline, or renew at a much higher yearly rate.

Not always. Many carriers offer accelerated underwriting with no exam for qualifying applicants, often up to $1 million or more depending on age and health.

Usually not. Group coverage is often 1–2 times salary and typically ends or becomes expensive when you leave the job. A personal term policy stays with you.

Living benefits are riders that let you access part of your death benefit early if you are diagnosed with a qualifying chronic, critical, or terminal illness. Availability and terms vary by carrier and state.

Indexed universal life (IUL) is permanent life insurance with a cash value account. Interest is credited based on the performance of a market index such as the S&P 500, subject to a cap, with a floor (often 0%) so the credited rate never goes below zero. Your money is not invested directly in the market.

Index losses are not credited to your cash value because of the floor, but policy charges continue every month. If the policy is underfunded or credited rates are low for years, cash value can decline and the policy could lapse. Funding the policy properly and reviewing it every year matters.

IUL can supplement retirement savings, especially after maxing out a 401(k) or for those who want tax-advantaged access to cash value through policy loans. It is life insurance first, and it works best when funded consistently for many years.

Policy loans and withdrawals up to your basis are generally not taxed if the policy is structured correctly and stays in force. A policy that becomes a modified endowment contract (MEC) or lapses can create taxes. Ask a tax professional about your situation.

Term plus investing is usually cheaper for pure protection. IUL adds lifelong coverage, downside protection on credited interest, and tax-advantaged access. The best fit depends on income, discipline, tax bracket, and goals; we show both side by side.

An annuity is a contract with an insurance company. You deposit money, it grows tax-deferred, and later it can pay you income for a set period or for life. Fixed and fixed indexed annuities protect your principal from market losses.

A fixed annuity (often called a MYGA) pays a guaranteed rate for a set number of years, like a CD. A fixed indexed annuity credits interest based on a market index with a cap and a 0% floor, and often offers a lifetime income rider.

Yes. A direct rollover from a 401(k) or IRA into a qualified annuity is generally not a taxable event. We coordinate the transfer with your current provider.

Most annuities have a surrender period, often 3 to 10 years, during which withdrawals above a free amount (commonly 10% per year) are charged a fee. We match the surrender period to when you will need the money.

Guarantees depend on the claims-paying ability of the issuing insurer. We focus on carriers with strong financial strength ratings, and each state has a guaranty association that provides additional protection up to state limits.