Please go through this list. It is designed as the starting point to help you make the right choice while purchasing a life insurance policy. Answer the questions with your policy in perspective and eliminate any conflicting doubts that might arise.

• Is your life insurance so arranged that the proceeds stand exempted from the claims of creditors, in case you have any? Will it stand against any judgment passed by a court of law?
  
  
• If and when desired, will the cash values of the insurance policy result in the largest possible income for yourself?
  
  
• In case, you have named your children as beneficiaries, do all of them participate? In case your children are minors, can your expenses be correctly and swiftly liquidated?
  
  
• In case of an unexpected emergency, will the settlement provision prove sufficiently flexible? Or will your benefactor’s interests be jeopardised?
  
  
• Are all beneficiary designations correct and complete? Do your beneficiaries need to be altered due to new family circumstances?
  
  
• Is there a chance of your current life insurance policy being subject to probationary delays or unnecessary additional expenses?
  
  
• Do your grandchildren, if any obtain equal shares in your estate?
  
  
• Are the beneficiary clauses formulated in a way that they perform your last wishes to their fullest, with no violation whatsoever?
  
  
• Will your spouse be guaranteed the most favourable income from the insurance proceeds?
  
  
• Is the extent to which your life insurance policy providing income absolutely clear in your mind?
  
  
• Can your spouse outlive the income provided?
  
  
• Is your insurance policy arranged in a manner to create an income for your child’s educational and marriage expenditure?
  
  
• Shouldn’t you provide a cash fund for your spouse’s last expenses?
  
  
• Have you taken full advantage of the best possible exemptions from tax?
  
  
• Is the insurance policy so arranged that your spouse will be provided with similar income advantages as yourself, if he or she outlives you?
  
  
• Is there a chance of saving more if you opt to change the frequency of the payment of premium?
  
  
• Is there a non-forfeiture option provided? Would a change in the non-forfeiture option be beneficial?
  
  
• Would the proceeds of your life insurance policy be subject to double taxation if you predecease your spouse?
  
  
• Is the plan of distribution of your life insurance coordinated with your general property?
  
  
• Do you now own a substandard policy? If so, do the conditions that caused the extra rating still exist?
  
  
• Are there any "gaps" left in your "earning years"? For instance, your agent might go on selling you short-term policies, all of them maturing between 50-55 years of age. Eventually you will be resigned to a zero-insurance status when you actually need it the most