Life Insurance

Questions To Consider Before You Take Out Life Insurance With Your Financial Adviser

To help you avoid overpaying or being taken advantage of, here are the top questions you should ask your financial adviser before buying a policy.

Life Insurance can help your family with any immediate costs after your death, such as mortgage payments and funeral costs, in addition to maintaining the lifestyle they are accustom too. Here are questions to think about ahead of a meeting with your financial adviser.


Your Income

  • How much is your annual salary?
  • Do you have any investment income?
  • Do you receive any dividend payments?
  • Do you have any income from property or real estate?
  • Do you have income from any other sources:______________________


Your Assets

  • How much capital do you have in savings accounts and where are these located?
  • How much capital do you have in your current account?
  • Do you have a pension fund and how much money is in this pot?
  • Do you have any other retirement accounts?
  • Have you made any investments into funds or stocks?
  • Have you purchased any vehicles, scooters or other transportation assets?
  • Have you purchased any real estate or property investments?
  • Any other assets: ________________

Your Liabilities

  • Do you have a mortgage remaining? If yes, how much is remaining and what are your monthly payments?
  • Do you rent your home? If yes, how much do you pay per month and for how long is your lease?
  • Do you have any remaining or outstanding debts or financial loans? If yes, where are they from, what is the interest and how much do you owe per month?
  • Do you have any outstanding student loans? If yes, how much is left to pay on them and how much do you pay per month?
  • Do you have any outstanding tax liabilities? If yes, how much and when are they expected to be paid?
  • Do you have any credit card debt? If yes, how much and when is it expected to be paid?
  • What types of insurance do you have? (contents, car, health etc.). If yes to any of these, how much are the premiums and what frequency?