The essentials, translated into practical questions you can use when reviewing a policy or planning expenses.
01
Verify the person and company
- What is your full name and state license number?
- Which insurer will issue the policy?
- Are you appointed by that insurer, and how are you paid?
- Where can I verify both the agent and insurer with my state insurance department?
02
Pin down the policy
- What is the exact policy type and face amount?
- Does the full natural-death benefit apply from day one? If not, show me the schedule.
- Are premiums guaranteed to stay level?
- What exclusions, riders, grace periods, and reinstatement rules apply?
- What cash value could build, and how would a loan or surrender affect the benefit?
03
Test the fit
- What local expenses am I trying to cover?
- What coverage or savings already exists?
- Can the premium remain affordable if income or expenses change?
- Who should be the primary and contingent beneficiaries?
- How much might I pay over 5, 10, 15, or 20 years?
04
If replacing coverage
- What do I lose by ending the existing policy?
- Will a new waiting or contestability period begin?
- Is replacement paperwork required in my state?
- Can I keep the current policy active until I have reviewed the new contract?
05
After the policy arrives
Read it during the free-look period. Confirm the owner, insured, beneficiaries, premium, benefit, riders, and waiting-period language. Store the policy and claims contact information securely, and tell the beneficiary where it is.