5 Questions to Ask Before Buying Life Insurance

Buying life insurance is an important decision.

Before signing an application, make sure you understand what you're purchasing.

Here are five questions worth asking.

1. How Much Coverage Do I Actually Need?

Don't choose a number simply because it sounds good.

Consider your income, debts, mortgage, children, savings, existing insurance, and long-term goals.

2. How Long Should My Coverage Last?

Do you need protection for 10 years?

20 years?

30 years?

Or are you looking for permanent coverage?

The answer depends on your financial objectives.

3. What Is Guaranteed?

This is one of the most important questions you can ask.

Some policy values, premiums, benefits, and interest assumptions may be guaranteed while others may not be.

Make sure you understand the difference.

The NAIC specifically recommends asking what parts of a policy are guaranteed and what parts are not.

4. What Happens If I Stop Paying?

Understand what happens if you miss premiums or decide you can no longer afford the policy.

Depending on the policy, there may be options, consequences, or changes to your coverage.

5. Does This Policy Actually Fit My Goals?

This is the biggest question.

Don't buy a policy simply because someone tells you it's the "best" policy.

The right policy should make sense for your needs.

The Goal Isn't to Buy More Insurance

It's to buy appropriate protection.

At Lionheart Life, we believe clients should understand what they're buying and why they're buying it.

If you're considering life insurance and don't know where to start, we're happy to help.

Call 619-614-6469