Checklist: Questions to Consider Before You Meet with a Life Insurance Agent

During your life, life insurance can provide peace-of-mind for you and your family, knowing that if something happens to you they'll be provided for. And if something should happen, life insurance can help your family cover immediate costs after your death (such as funeral costs and paying debts) and maintain their lifestyle in the future. 

To help you find the right life insurance for your family and your situation, it's a good idea to meet with a licensed life insurance agent. When you meet with the agent, there will be a lot of information the agent will need in order to figure out the policy that's right for you. Below are some of the questions to think about ahead of time so that you're prepared. To learn more about life insurance, click here.

Your assets

  • How much money do you have in your savings account?
  • How much money do you have in your checking account?
  • How much do you have in an IRA, 401(k), or in another retirement account?
  • Do you have any stocks or bonds?
  • Do you own any real estate?
  • Do you own a car, a boat, or another vehicle?

Your income

  • How much is your annual salary?
  • Do you have income from other sources? (Social Security, pension, real estate income, investment income or dividends, etc.)

Your liabilities

  • Do you have a mortgage? If so, how much do you owe per month?
  • Do you rent your home? If so, how much do you owe per month?
  • Do you have student loans? If so, how much do you owe per month?
  • Do you have unpaid medical bills? If so, how much do you owe per month?
  • Do you have unpaid taxes? If so, how much?
  • Do you have credit card debt? If so, how much?
  • Do you have insurance (health, auto, home, flood, etc.)? If so, how much are the premiums?