5 Questions To Ask Your Life Insurance Agent

5 Questions To Ask Your Life Insurance Agent

When you are shopping for life insurance, the process can be daunting and a lot of major questions will arise along the way. In order to feel truly confident in your decision, you'll need to ask the right questions when you sit down and meet with your life insurance agent for the first time. Read on to learn more about the most important inquiries that you should be making during the process of obtaining life insurance.

1. What Is Your Company's Background?

Don't allow yourself to be swayed by a charismatic life insurance agent who tells you exactly what you want to hear. Be sure to ask about the company's background. How long have they been in business? What is their long term growth potential? What are their credentials? By asking the right questions about the company and their history, you can avoid having to find a new company to handle your concerns once the chosen company proves themselves incapable of doing so.

2. How Much Life Insurance Do I Need?

While you do not want to purchase too much coverage, you will also want to avoid purchasing a policy that does not provide adequate assistance should the unthinkable take place. Ask your insurance agent how much coverage you are going to need to pay off all of your debts and how much all of your dependents will require to maintain the lifestyle that they have become accustomed to. These are the two main variables when it comes to determining your policy.

3. Are There Any Living Benefits?

Most policies are purchased to offer assistance to loved ones after you have passed on, but there are also policies that offer clients the chance to enjoy what are known as living benefits. In instances where the client is looking for a policy with liquidity that allows them to access their monies in case of an emergency, a policy with living benefits is typically the best possible choice.

4. What Are My Guarantees?

When it comes to the guaranteed aspects of your policy, you should leave nothing to chance. This is especially true for those who are looking to purchase a permanent policy. While there are projected figures that an agent can provide, you will want to pay very close attention to the guaranteed figures. Knowing how much you stand to make regardless of market fluctuation is crucial to your long term peace of mind.

5. Am I Covered If My Health Changes?

Since the majority of policies are predicated on health factors, it is important to know if your coverage will change if your level of health is affected. When you apply for your policy, you need to obtain the highest health classification possible, so that you are not left scrambling for assistance if your health decreases. You'll also want to find out if you have the ability to improve on your rating if your health increases.