Senior Living Guide9/9

Questions to ask before you sign anything

Is this a graded death benefit, and if so, what exactly does it pay during the waiting period versus after? Can the premium ever increase, and is the face amount guaranteed not to shrink? Is the payout enough, after accounting for regional costs, to actually cover what you're planning for?

Ask who is named as beneficiary, how a claim gets filed, and how long payout typically takes. Get every answer in writing before you commit — a verbal promise from an agent isn't the same as a term written into the policy.

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