Buying life insurance is one of the most effective ways to ensure you and your loved ones have a financially secure future. However, trying to figure out all your options can be overwhelming. Fortunately, your insurance agent is available to answer your questions and help clear up any confusion you have so you can make informed decisions. Here are a few crucial issues to discuss with them to ensure you select the right coverage and insurer.

What to Talk to Your Agent About When Buying Life Insurance

1. Policy Exclusions

Most life insurance policies have exclusions that you should be aware of. While these vary from one provider to the next, it’s common for payouts to be excluded for deaths that occur as the result of an act of war, aviation, dangerous activity, drug or alcohol abuse, and illegal activity. If you aren’t familiar with this part of your coverage, your family could face an unpleasant surprise if you pass away.

2. Living Benefits

Whole life and universal policies are designed to build cash value as premiums are paid. This is known as living benefits because you can borrow against them should you need money while you’re still alive. If this is a feature you’re interested in, you’ll want to consult your agent about the different options available and how this benefit works.

3. Health Changes

While you may undergo a medical examination when first purchasing life insurance, it’s possible for your health to go through changes at any time. Should this happen, you should know how your policy will be affected. For example, if you’re diagnosed with a condition, your premium might increase. On the other hand, if you take steps to improve your health, such as quitting smoking or losing weight, you may be able to secure a better rate.

4. Insurer’s Financial Strength

Choosing where to buy life insurance from is just as important as the coverage you pick. You want a provider you know will be able to pay your beneficiaries upon your death. If you get a policy with a cash value component, they must also have adequate funds to payout on your withdrawals. Thus, before signing up with an insurer, it’s essential to find out its financial strength.

For help fulfilling all your life insurance needs, partner with State Farm® Insurance Agent Craig Giovani in Mebane, NC. He will take the time to carefully assess your family and financial situation to determine which coverage solutions will be the best fit for you. As an agent with one of the most reputable insurers in the country, he offers high-quality products you can purchase with confidence. Call (919) 300-5911 to set up a meeting, or visit him online to request a quote.