Questions to ask before you sign anything
Print this page or write these down. A licensed professional who is comfortable with their product will answer every one of these without hesitation, and will show you where the answer appears in the policy. Reluctance to put an answer in writing is itself an answer.
About the person you are speaking with
- What is your full name, your license number, and the state or states you are licensed in?
- Are you an employee of one insurance company, or an independent agent representing several?
- How are you compensated on this policy, and does the commission differ between the products you're showing me?
- What is the name of the insurance company that would actually issue this policy — not the agency or marketing name?
You can verify a producer's license yourself through your state department of insurance, or through the National Association of Insurance Commissioners' consumer tools at naic.org. Verifying takes a few minutes and is worth doing before, not after.
About the policy itself
- Is this whole life insurance, term insurance, or something else? Please show me where the policy says so.
- Is the benefit level, graded, or guaranteed issue?
- If I die of natural causes in month six, exactly how much would my beneficiary receive? What about year two, and year three? Show me that section of the contract.
- Is there a waiting period or graded period? How long, and what triggers the full benefit?
- What is the face amount, and can it be reduced by the insurer for any reason?
- What are the exclusions?
- What is the contestability period, and what happens if the application contains an error?
- Are there riders included or offered? What does each one cost, and under exactly what conditions does it pay?
- What is the financial strength rating of the issuing insurer, and from which rating agency?
About the money
- What is the exact premium, and is it guaranteed level for life, or can it increase?
- What is the annual premium versus twelve monthly payments — what do I pay extra for paying monthly?
- What happens if I miss a payment? How long is the grace period, and can the policy be reinstated?
- Does the policy build cash value, and if so, what is the guaranteed value at year 5, 10, and 20?
- If I paid premiums for 15 years and then stopped, what would I have?
- Over the expected life of the policy, roughly what would total premiums be compared with the death benefit?
About the process
- May I take the application and the policy form home to read before deciding?
- How long is the free-look period in my state, and how would I return the policy for a refund?
- Will I receive a physical copy of the complete policy, and how soon?
- Who do I call at the insurance company — not the agency — if I have a problem later?
- What exactly will my beneficiary need to do to file a claim, and how long does the insurer typically take to pay?
"Can you put that in writing?" Verbal descriptions of coverage are not the coverage. The issued policy is the coverage. Anything material that matters to your decision should be traceable to a document you can hold.
Answers that should give you pause
- "You have to decide today" — legitimate coverage is still available tomorrow, and rates are filed with the state, not invented at the kitchen table.
- "Don't worry about that health question" — this can void a claim during the contestability period.
- "This is a government program" or "I'm calling about your benefits" — no government agency sells final expense insurance.
- "This is free coverage" — a policy that requires premiums is not free.
- Vagueness about which company issues the policy, or refusal to give a license number.
- Any request for payment by gift card, wire transfer, cryptocurrency, or a personal account rather than to the insurer.
More detail on all of this, including where to report a problem, is on our consumer protection page.
Before the meeting
- Write down what you actually want the money to do, and for whom.
- Gather any coverage you already have, including old policies and anything through a former employer.
- Have a rough sense of local funeral and cemetery costs, from actual price lists.
- Decide your monthly budget in advance and be honest about whether it will still be comfortable in ten years.
- Invite a family member or trusted friend to sit in. There is no downside to a second set of ears.
Last reviewed: August 12, 2026