Before you sign

Questions to Ask

Whether you talk to us or to somebody else, these are worth asking before you sign anything.

01
Is this whole life or term?
Term coverage ends on a set date. Whole life does not, as long as the premium is paid.
02
Can the premium go up?
On a level whole life policy it should not. Ask directly, and ask to see it in the policy.
03
Is there a waiting period?
If the policy is guaranteed issue, ask how long the waiting period runs and what your beneficiary receives if you die during it. It is usually a return of what you paid plus a small percentage, not the full amount.
04
What happens if I miss a payment?
Ask about the grace period and what it takes for the policy to lapse.
05
Does it build cash value?
Most whole life does, slowly. Ask what it would be worth in ten years.
06
Am I talking to an independent agent or a captive one?
A captive agent can only offer one company's products. An independent agent can compare several.
07
How does my beneficiary actually file a claim?
Ask what paperwork they will need and how long payment usually takes.

Ready to talk it through?

A licensed agent is one call away. Weekdays, 9am to 10pm ET.