What kind of questions should we ask the agent when shopping for term life insurance, other than the obvious cost, amount, and term?

[Micah]

I used the online tools on the Ramsey Solutions website to get quotes for both my husband and I, but we will talk to an agent in more detail before making a decision. The only thing I can think to ask is the typical turnaround time for processing claims, God forbid something happens to one of us.

TIA

[Virginia]

They will need to know how long you want the policy for. 10, 20, or 30 years. Of course, price will vary between those too.

[Scott]

Micah Puskac one of the most important questions that’s NEVER asked is

If for whatever reason I need to extend my term what are my renewal and conversion options?

You’ll be shocked when you hear the majority renewal at Annual Renewable Term (ART)and increase 15-20X the cost or they force a conversion to Whole life

Make sure you find a carrier that offers a term to term renewal WITHOUT requiring you to reapply or re-qualify or a decreasing term option so you can continue with same premium amount and gradually reduce coverage so you can keep it longer without increasing premiums.

[Author]

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