Some questions you might ask when considering life insurance are:
1) What is the rating of this company?
2) Are the rates guaranteed not to go up?
3) Does this policy have cash value? If so, please show me an illustration.
4) Will you be working with me if I need any assistance with my policy in the future?
5) What happens when the terms ends? (if buying Term insurance)
6) What riders are available for this policy?
7) How do I borrow from this policy? (if buying Whole or Universal Life)
8) What policy has the best rates for my health?
9) May I also get coverage for my spouse?
10) What if I want to drop this policy in the future?
There are many other questions you could ask, but these are some common ones that people ask me. This assumes you know how much coverage you need, and what type. Otherwise, those are also questions you will want to discuss with your agent.
That is a great question! The things that you want to know going in - what do I want the insurance to do? ( cover funeral expenses, leave an income, cover expenses, pay estate taxes, etc.) How long do I need it for? ( short term, or long term goal?) How much can I safely afford to spend? ( what you want may not be what you can afford) For the agent, you want to know -how financially stable is your company? Are you independent? ( a captive agent can only give you quotes from one company) and Who is your insurance with, and why? I hope that helps! Thanks for asking!
Regional Marketing Director, Capital Choice Financial Group,
If you are thinking about purchasing a life insurance policy the first thing you should inquire about is the rating of the company. In my opinion, this rating should be now lower than B+. Secondly, you must make sure the premium doesn't increase annually. Some term policies do this. Lastly, make sure that the face amount of the policy is high enough to cover the debt, mortgage, and replace the spouse's income. A side note is that level term protection is the best for all because you can purchase enough to cover these things without breaking the budget and allows you to invest outside the policy giving complete control of you money!
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1) What is the rating of this company?
2) Are the rates guaranteed not to go up?
3) Does this policy have cash value? If so, please show me an illustration.
4) Will you be working with me if I need any assistance with my policy in the future?
5) What happens when the terms ends? (if buying Term insurance)
6) What riders are available for this policy?
7) How do I borrow from this policy? (if buying Whole or Universal Life)
8) What policy has the best rates for my health?
9) May I also get coverage for my spouse?
10) What if I want to drop this policy in the future?
There are many other questions you could ask, but these are some common ones that people ask me. This assumes you know how much coverage you need, and what type. Otherwise, those are also questions you will want to discuss with your agent.