Questions to Ask A Life Insurance Agent

There are certain questions that you should be prepared to ask any agent or broker selling you a life insurance product. By their very nature, Permanent Life insurance products such as Whole Life and Universal Life, are inherently more complicated than Term Life, so many of these questions will refer to Permanent Life insurance.

• Are There Any Fees or Other Charges Involved With the policy?
• Can I Choose Anyone I Want As My Beneficiary?
• Can I Miss a Premium and Not Lose My Life Insurance Coverage?
• Can I really Afford This Product and the Risk Associated With it?
• Can You Give me an Illustration of the Investment Performance of the Policy?
• How Can I Borrow Money Against My Life Insurance?
• How Will This Permanent Life Insurance Perform as Opposed to Term Life and my Own Investments?
• What Can Cause A Death Benefit to be Delayed?
• What is Cash Surrender Value?
• What is the Accelerated Death Benefit rider, how is that different than a Viatical Settlement?
• What is the difference between “Standard” and “Preferred” Term Life Insurance Rates?
• Why Should I Consider One Life Insurance Company Over Another?
• Will I Have to Take a Medical Exam to Apply for a Life Insurance Policy?