Top 10 Questions to Ask When Buying Life Insurance

Getting life insurance is one of the best decisions you can make for yourself, and if you have gotten to this point, congratulations! However, as great as this step is, do you know that you cannot hop onto the first insurance company you find online to make a deal with? Yes! Purchasing life insurance while is a great move. It also involves asking yourself many questions to make sure you are making the correct decision.

If you are hesitant and want to make sure you are making the right choice, then all you have to do is answer the following questions listed below. Once you have a clear view of those, your journey toward buying the right life insurance will become easier.


What Questions to Ask When Buying a Life Insurance?

Here are the top ten questions to ask when buying life insurance:

1.What is the Reason or Goal for Life Insurance

On the surface, your goal or reason for attaining life insurance is clear. What is it? Well, life insurance typically means you, as an individual, are protecting your loved ones from financial crises in case you die. However, while the superficial meaning is spot on, life insurance goals go beyond this.

You need to have a clear view of who would benefit from your life insurance, how your Insurance would be paid, and whether a specific percentage would be divided among certain individuals. Once you have all these questions cleared, it is time to move on to the next step.

2.How Much Coverage Do You to Achieve the Goal

The most important question you should have a clear view of would be how much coverage you should achieve. There is no denying that your premium cost would increase with a higher range, but the question is, is a lower premium sufficient to support your family if you are not here? No, right?

Hence, instead of choosing a lower premium, it is ideal to understand who would need your support and how much it would cost before making a finalized decision about your coverage.

3.Is the Insurance Company Reputable?

There are multiple companies out there that are running in the realm of Insurance. However, does it mean that each company is the best? No, right?

Hence, you must conduct thorough research instead of choosing any company you find online. Understand what the different companies offer in the market and how much they cost, which companies people find the best, and then decide on choosing a reputable insurance company for yourself.

4.How Long Has It Been in Business?

The longevity of its operations and the financial strength it stands on speaks a lot about any insurance company. Hence, before choosing the right company, you should run a quick Google search on your narrowed-down options. It would help you ensure that the company you are inclining towards is legitimate and would offer you a price you can afford.

5.What is the Duration of your Life Insurance Policy

Once you have chosen the company, it is time to decide the duration of your life insurance policy. Every life insurance has a specific period, and the person getting insured should decide on when their premium ends. Many choose an insurance policy to last until their children are well into adulthood and can support themselves financially, while others choose durations depending on their needs. So, whatever your case is, give enough thought until when your life insurance should end, and then discuss it with your insurer.


6.Can you Afford the Monthly Premium?

The life insurance you choose should complement your lifestyle and not become a burden. Hence, upon your rent or mortgages and keeping aside your list for monthly expenditures, it is essential to determine how much monthly premium you can afford.

To ensure you choose the right company with affordable premiums, we suggest shopping around online and comparing the many insurance prices available.

7.Can you Change the Policy Later?

It is always essential to ask your insurer whether you can upgrade or change the policy anytime. This is because the time you would be purchasing an approach would be different from how your life would be in the next ten or twenty years.

You can go from a single person to married, and some can even have a family of their own decades from now. Hence, it is always advisable to ask your insurer for policy-changing tactics without worrying about getting locked into one Insurance that may not be useful to you anymore.

8.Does Insurance have a Cash Value if it is Canceled?

While term life policies do not usually offer it, whole life insurance does. Always ask your insurer whether or not your Insurance will have a cash value in case you cancel it. Users can retrieve their amounts through the cash value before they die or their policy duration ends.

9.Would there be Circumstances Where the Benefits Will Not be Paid?

Usually, life insurance policies have circumstances or areas based on which they do not pay the benefit. These may include death due to suicide or the consumption of illegal substances. Hence, it is always essential for a person purchasing Insurance to ask the insurer about such policies or rules.

10.Do I Need Life Insurance if I Already Have One Through my Job

Many workplaces have life insurance in process for their employees. However, there is always a question of whether you should start a new one on your own too. The answer to this question depends on the coverage your workplace insurance provides you and your affordability factor. If your workplace life insurance may not offer enough range, and you can afford a new one alone, go for it.


It is always essential to start life insurance with clearance of mind. If you have sought the answers to these questions, choosing the perfect life insurance is more accessible.