Top Life Insurance Questions To Ask

Once you decide you want to purchase life insurance, the sea of options can be overwhelming.  It's important to sit down and research your choices and make sure you are making an educated decision.  Barry Higgins on SFGate gives a summary of the top five questions every consumer should be asking before buying a policy.  Great advice is the best place to start when shopping around for the policy that will best meet your needs.

The first question to ask yourself is why are you buying this policy?  You life insurance needs will vary based on what you are trying to accomplish and what stage you are in life.  Are you trying to protect a family financially, or trying to leave money to a charity?  Ensure you understand what needs this life insurance policy will fulfill.  Next, make sure you know all of your options and understand everything that is available to you.  Do you need group or individual life insurance?  Do you fully understand the difference?

The third recommended question to ask is what happens to the money if you do not die?  As you near the end of your life insurance term your premiums may increase, it may expire, you may want to drop it altogether or you may need an upgrade.  If you need an upgrade make sure this is permitted and be sure to understand how that goal will be attained.

One of the most important questions is where and how will you buy your policy.  If you think you need the extra guidance, a professional might be right for you.  If you can take the time to fully understand all of your options and do your research it's definitely something you can do on your own, but be diligent.  Do your homework and ask additional questions if something doesn't make sense or look right.  You are your own best advocate when it comes to buying life insurance, so focus on your needs and your family's needs first.