Free Resource
The Life Insurance Buyer's Cheat Sheet
Everything you need to know before you buy life insurance, in plain English. The four policy types explained, questions to ask any agent, red flags to avoid, and a simple decision framework.
Buying life insurance can feel overwhelming when you do not know what to look for or what questions to ask. It is easy to end up with whatever you were shown first instead of what fits your situation. This cheat sheet gives you the information you need to make a confident decision on your own terms.
The four types of life insurance, simply explained
There are four main types of life insurance you will encounter. You will not need all four, but knowing the basics of each helps you ask better questions and spot when something does not fit.
Term life covers you for a set number of years. Term generally costs less than permanent coverage for the same death benefit. No cash value, no permanent coverage, just protection during the years your family depends on your income. If you have young children or a mortgage, this is usually the first option to understand.
Whole life is permanent coverage that stays in force as long as premiums are paid. The premium is set at issue and is designed to stay level. It is built to last your lifetime, and cash value builds along the way under the terms of the policy.
Final expense is a small permanent policy designed for seniors to cover funeral and end of life costs. Coverage amounts are smaller, and many policies use health questions instead of a medical exam. Approval depends on your answers and the carrier. Best for people 50 and older who want a small, simple policy for final costs.
Indexed universal life (IUL) is permanent coverage with cash value linked to a market index like the S&P 500. It is more complex than whole life. The cash value can change with the index, within limits the policy sets, and it needs steady funding to work as designed.
Five questions to ask before you buy
The right questions tell you whether you are looking at a good policy and whether the agent knows what they are doing. The cheat sheet covers exactly what to ask and what a good answer sounds like versus a vague or evasive one.
Red flags that indicate the wrong policy or the wrong agent
Not all policies are structured well, and not all agents prioritize your needs. The cheat sheet covers the warning signs that tell you to slow down, ask more questions, or walk away entirely.
What is inside
- The four policy types explained side by side in plain English
- Five questions every buyer should ask before committing to anything
- A checklist of what to have ready when you apply so the process goes smoothly
- Red flags that signal a poorly designed policy or high-pressure sales tactics
- A simple decision framework to match your situation to the right type of coverage
Who this is for
This guide is for anyone thinking about buying life insurance who wants to understand their options before sitting down with an agent. It is also useful if you have already been quoted and want to verify that what you were shown actually makes sense for your situation.
Download it, read it before any call or meeting, and use it as a reference. An agent worth working with will welcome the questions.