Wednesday, January 29, 2014
It’s important for physicians and business owners to ask the right questions about a life insurance policy considering the significant investment often involved and the potential exit costs. Here are the core concepts to be aware of:
- What is my annual premium and will it change?
- Can you show me the policy illustration?
- Does this policy have a cash value?
- Is the policy protected from creditors?
- How long will my policies last?
- What would be my exit strategy?
See Ike Devji, Life Insurance for Doctors and Business Owners – Key Due Diligence Questions for Buyers, Pro Asset Protection, Dec. 17, 2013.