Getting life insurance is something that most people are not really familiar with. Sure, you may have heard of the term but unless you are in the insurance industry or perhaps a lawyer, most people have a very basic (or even wrong) notion of what a life insurance is. In fact, there is such an information gap to the point that a lot of people really do not understand the difference between life insurance and health insurance. Perhaps that is also the reason why most people do not visit life insurance companies the way that they would to a department store. Most often than not, insurance agents have to approach the person and offer them one. The problem with that, however, is that if one does not fully understand the concept behind. He or she can easily be swayed to buy without knowing the pros and cons and the things that policy holders are entitled to. That is why it is important to know the right questions to ask. This holds true for senior citizens over the age of 85. These questions are necessary in order to understand the full picture before paying your hard earned money and signing a contract.
One of the questions that a person being offered a life insurance policy to ask is what are the inclusions of the life insurance? What is the coverage? It is important to have the insurance agent write it down one by one so that you know exactly what you are signing up for. Maybe there is a benefit that you are entitled but if you are not fully aware of it, how can you achieve it? Different types of insurance have different coverage in terms of depth and service. You must also know the inclusions in order to get an insurance policy that fits your needs. Remember, it is not a “one size fits all” deal. That is why knowing your options are so important.
Second, you must ask for the monthly premium that you have to pay for. Make sure that you know all the hidden charges and you can go ahead and ask them bluntly. That way, you know the exact amount that you have to set aside every month. You will not be shocked when you see your premium bill and it is higher than what you expected. You have to know exactly what you are getting. After all, we are not talking about a small amount of money. That is why asking all the right life insurance questions are so crucial.
Third, ask for all your options. Maybe there is a lower cost option that they will not tell you initially in hopes that you will get a bigger policy. You have to be proactive and probe the agent as well by asking pertinent life insurance questions for someone over the age of 85.