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. Most people end up buying what they are sold rather than what actually fits their 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. Most people only need two or three, but knowing the basics of all four helps you ask better questions and spot when something does not fit.
Term life is the most affordable option and covers you for a set number of years. No cash value, no permanent coverage, just protection during the years your family depends on your income. Most families with young children and a mortgage should understand this option first.
Whole life is permanent coverage that never expires. The premium is locked in and never increases. Cash value builds over time at a guaranteed rate. More expensive than term but provides lifelong protection and a predictable savings component.
Final expense is a small permanent policy designed for seniors to cover funeral and end of life costs. Coverage amounts are smaller, no medical exam is typically required, and the approval process is simpler. Best for people 50 and older who want straightforward, affordable coverage.
Indexed universal life (IUL) is permanent coverage with cash value growth linked to a market index like the S&P 500. More complex than whole life and better suited for people with longer time horizons and specific financial goals around tax-free growth.
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 compared 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.