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Life Insurance: Key Questions to Ask Before Purchasing

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No matter your age or level of wealth, you owe it to your family to purchase life insurance. With the average funeral costing several thousand dollars, individuals who do not obtain coverage could be forcing their families into debt upon their demise. The following questions could help you in this vital task.

  • How much is the monthly premium going to be?
  • Would I be eligible for a discount if I paid a year’s dues up front? What about the policy’s total cost?
  • What happens if I become disabled – will my premiums be waived?
  • When does the death benefit become available?
  • What happens if I die before then?
  • How much coverage comes with the policy? Will I be able to increase or decrease this amount in the coming years?
  • Does my policy earn interest?
  • When will I get the check?
  • Am I able to take a loan out against my policy?
  • Do I have any say in how my money is invested?

Making sure you ask the above questions when purchasing a policy can help limit the amount of surprise you experience down the road. Having life insurance is a vital investment for the loved ones you leave behind, so obtaining the right policy is essential. Our qualified agents are standing by to discuss the insurance options available in PA with you.

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