Five questions to ask before buying any policy

After twelve years in this industry, I can tell within minutes whether a customer will end up with the right policy. The difference is almost always the questions they ask. 1. What exactly is covered, and what is excluded? Exclusions matter more than benefits. Ask for the exclusion list and read it before you sign anything. 2. What happens if I stop paying? Understand the grace period, whether the policy lapses or converts, and what surrender values look like in the early years. 3. Are premiums guaranteed? Some policies can revise premiums at renewal. A cheap first-year premium is not cheap if it doubles at age 50. 4. How does this interact with what I already have? Employer group cover, MediShield, existing riders: overlap is wasted money and gaps are risk. 5. How is my advisor paid? A good advisor will answer this comfortably. Understanding incentives helps you weigh the advice. Bring these five questions to any meeting and you will get better advice from any advisor, including me.