What Questions Should You Ask a Life Insurance Agent?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Key Questions to Ask About Life Insurance

  • What Type of Life Insurance Should You Choose?
    • Term Life Insurance: This option covers you for a set period and is usually lower in cost. It’s ideal for those seeking temporary coverage, such as during the years when you have significant financial obligations like a mortgage or children’s education.
    • Whole Life Insurance: Offering lifelong coverage, this policy includes an investment component, making it suitable for those looking for a permanent solution that can also serve as a savings tool.
  • How Much Coverage Do You Need? Determine your coverage needs by considering financial obligations such as debts, income replacement, and education costs for dependents. This ensures that your loved ones are financially secure in your absence.
  • What Does the Policy Exclude? Understanding policy exclusions, such as pre-existing conditions or high-risk activities, helps you avoid surprises and ensures you select a policy that provides comprehensive protection.
  • What Are the Premiums? It is essential to know the initial premiums and whether they will change over time. This will help you budget effectively and prevent any unexpected financial strain.
  • Is the Policy Renewable or Convertible?
    • Renewable: Allows you to extend coverage without a new medical exam, providing continued protection even if your health changes.
    • Convertible: Offers the flexibility to switch to a different type of policy, adapting to your changing needs over time.
  • What Riders Can Be Added? Riders offer additional benefits like critical illness or disability coverage, enhancing your policy’s value and providing extra security.
  • How Does the Cash Value Component Work? For whole-life policies, it’s crucial to understand how the cash value accumulates and how it can be utilized, ensuring you maximize the policy’s benefits.
  • What’s the Policy’s Surrender Value? Know the refund amount after fees if you cancel your policy. This information helps you make informed decisions about maintaining or adjusting your coverage.
  • How Does the Claim Process Work? Clarify the steps your beneficiaries need to take to file a claim. This ensures a smooth process during a challenging time.
  • Are There Any Discounts or Loyalty Programs? Some insurers offer discounts or benefits for long-term customers, providing additional value and savings.

How We Can Help

At The Annuity Expert, we understand that choosing the right life insurance policy can be daunting. With 15 years of experience as a life insurance agency, annuity broker, and retirement planner, we have the expertise to guide you through this process. We believe in finding the best solution at the lowest costs, ensuring you receive maximum value for your investment.

Our goal is to help you navigate the complexities of life insurance by identifying your core needs and offering tailored solutions that provide peace of mind and financial security.

What We Recommend

  • Step 1: Initial Consultation During your initial consultation, we will assess your financial situation and insurance needs. This step is crucial for understanding your unique requirements and setting the foundation for a tailored life insurance plan. The main benefit is gaining a clear picture of your financial goals and coverage needs.
  • Step 2: Policy Selection Based on our assessment, we will present you with a selection of policies that best meet your needs. This step involves detailed explanations of each option, including benefits and exclusions. The main benefit is confidently making an informed decision in your chosen policy.
  • Step 3: Policy Implementation Once you’ve selected a policy, we handle all the paperwork and logistics to implement it seamlessly. This step ensures your coverage begins without any hassle, providing immediate peace of mind and financial protection.

Features and Benefits

  • Personalized Service: Tailored advice and solutions that match your specific needs, ensuring you feel valued and understood.
  • Comprehensive Coverage Options: A wide range of policies to choose from, ensuring you find the perfect fit for your financial goals.
  • Expert Guidance: Benefit from our 15 years of industry experience, providing reliable and trustworthy advice.
  • Flexible Policies: Options to renew or convert your policy as your needs change, ensuring long-term security.
  • Additional Riders: Enhance your coverage with critical illness or disability riders, offering extra protection.

Overcoming Objections

We understand that investing in life insurance can seem overwhelming. However, our personalized approach and expert guidance make the process straightforward and stress-free. Not working with us could result in choosing a policy that doesn’t fully meet your needs, potentially leaving your loved ones unprotected. By partnering with us, you ensure comprehensive coverage and financial peace of mind.

Internal feelings of security and confidence will accompany your decision to work with us, knowing that your financial future is well-protected.

Contact us today for free advice or a quote.

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Frequently Asked Questions

Should I be honest on life insurance questions?

In considering your life insurance application, resist the urge to be untruthful – even if it may result in a higher premium. Honesty is always the best policy; misinforming on key questions could lead to denial or cancellation of coverage during contestability.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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