Life Insurance: The 4 Groups of Questions They’ll Ask

life insurance questions
There are tons of ads about cheap and easy life insurance. The reality is that most policies have a whole set of questions you’ll be asked and the answers can change the price dramatically.
Jeremy and JC Matthews from Simply Insurance get you prepared by explaining 4 important sets of questions you’ll need to be ready to answer.

They include:

1. BASIC POLICY MEMBERS:
  • The Owner: This is the person who sets up the policy and has the ability to change things about it. This isn’t always the person who the insurance policy actually covers.

 

  • The Insured: The person who’s life the policy is connected with. The “death benefit: would only pay out if s/he was to pass away.

 

  • The Beneficiary: The person who goes the money if the insured passes away.

 

  • The Contingent Beneficiary: The person who gets the money if both the insured and the beneficiary pass away.
2. THE LIFESTYLE QUESTIONS:

You’ll be asked about things that are part of your life. This can include questions about:

  • Smoking
  • Travel
  • Bungee Jumping
  • Skydiving
  • Race Car Driving
  • Your Job
3. HEALTH QUESTIONS

The bottom line is that they’ll ask a ton of health questions. Really…. a TON!!!  Be ready and be honest and just tell it like it is.

4. PAYMENT

How to set up payment:

  • The best way to do it is automatic withdrawal from a bank account. This way you can set it and forget it. —
  • You don’t HAVE to share payment information at the beginning if you don’t want to. You only have to share it once the underwriting process is complete.
A special thanks to JC Matthews for sharing his knowledge with us.  You can find him at SimplyInsurance.co

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