A low monthly payment can be attractive.

But it doesn't tell you everything.

One policy might cost less because it has different benefits, a graded death benefit, or other limitations.

Before choosing based on price, ask:

"What am I getting for that premium?"

This is one of the biggest things people overlook.

Some policies provide the full death benefit immediately. Others may have a waiting or graded-benefit period.

Don't simply ask:

"Does this policy have a waiting period?"

Ask:

"If I die during the first year, exactly how much will my beneficiary receive?"

Then ask about the second year.

You want the answer in dollars, not insurance jargon.

"No medical exam" sounds great.

But it doesn't necessarily mean you're getting the lowest premium or the most favorable coverage.

Depending on your health, you may qualify for other coverage that could have different pricing or benefits.

That's why your health should be considered before automatically choosing the easiest application.

More coverage isn't automatically better.

If your goal is to help cover a $10,000 funeral and a few other final expenses, you may not need a much larger policy.

Look at your actual need, your savings and any life insurance you already have.

The goal is enough coverage—not the most coverage someone can sell you.

Don't assume the price you're quoted today tells you everything about the future.

Ask:

"Is this premium guaranteed to stay the same for the life of the policy?"

Also ask whether the death benefit and other important policy values are guaranteed.

Know what is guaranteed before you buy.

Life changes.

A premium that feels comfortable today may become harder to manage later.

Before buying, ask:

"What happens if I can no longer afford this premium?"

Depending on the policy, there may be cash value, surrender value, reduced benefits or other provisions.

It's much better to know your options before you need them.

If you already have life insurance, don't assume a new policy is better just because it is newer or cheaper.

Your existing policy may have benefits or guarantees that are difficult or expensive to replace.

Compare the two policies first.

And don't cancel existing coverage until you understand exactly what you're giving up.

TV and internet advertisements are designed to get your attention.

That's fine.

But an advertisement rarely gives you everything you need to compare a policy intelligently.

"Affordable."

"Guaranteed."

"No medical exam."

"Easy application."

Those phrases may all be true—and you still need to understand the actual policy.

Read the policy, not just the advertisement.

You don't.

A life insurance decision can affect your family for many years.

You should be able to ask questions, compare options and understand what you're buying before making a decision.

A good insurance professional should be willing to explain both the advantages and disadvantages of the policy being considered.

If you remember nothing else, remember these three:

Don't buy based only on the monthly premium.

Don't overlook the early death benefit.

Don't assume the easiest policy to qualify for is the best policy for you.

Those three mistakes alone can make a big difference in the policy you end up with.

Before buying, ask yourself:

What am I trying to accomplish?

What am I guaranteed to receive?

What will I actually pay over time?

If you can't get clear answers, you're not ready to make the decision.

And that's okay.

You don't need to become an insurance expert to buy insurance.

You just need someone who can help you understand the differences between the choices.

Want us to look at your situation and see what makes sense?

Call me, or request a quick Review.

Insurance products, availability, underwriting and policy terms vary by insurer, state and individual circumstances.