Questions to Ask After Being Sold Life Insurance
- LIR TEAM
- Oct 4
- 4 min read
Buying life insurance or an annuity is one of the most important financial decisions you’ll ever make — yet many people don’t realize the true cost, performance, or suitability of the policy they’ve just been sold until it’s too late.
That’s why knowing the right questions to ask after being sold life insurance is essential. Whether you’re a consumer seeking to protect your family or a professional (CPA, attorney, or financial planner) helping clients, understanding the difference between a sales conversation and an independent review can make all the difference.
Why an Independent Review Matters
Most consumers assume their agent or advisor is required to act in their best interest. Unfortunately, that’s not true.
Life insurance and annuity agents, brokers, and financial advisors typically do not have a fiduciary duty. They are legally permitted to sell products that are suitable — not necessarily optimal — for the client. Their recommendations may still be influenced by commissions, bonuses, or carrier incentives.
That’s where LifeInsuranceReview.com (LIR) makes a difference.
LIR was founded to protect consumers and professionals from biased sales practices through independent, fiduciary-style reviews led by licensed Life Insurance Analysts — one of the rarest professional licenses in the U.S., held by fewer than 1% of life-licensed professionals in California since 1941.
Our role is simple: to serve as your advocate, providing unbiased, transparent, and expert second opinions on life insurance and annuity policies.
The Free-Look Period: Your Critical Window
After your policy is delivered, you typically have a 10- to 30-day “free-look period”. During this time, you may cancel the policy and receive a full refund if you decide it isn’t right for you.
Consumers should use this window wisely. It’s your chance to pause, evaluate, and get an independent second opinion from a licensed Life Insurance Analyst before committing to years of premium payments.
An LIR review helps determine whether your policy:
Fits your true financial goals and needs
Has realistic illustrated values and internal costs
Includes unnecessary riders or fees
Could be restructured or improved through better design
Five Key Questions to Ask After Being Sold Life Insurance
Before you accept any life insurance or annuity contract, ask yourself these five essential questions:
What is the real purpose of this policy? Protection? Wealth transfer? Tax-advantaged savings? The purpose determines the right product type and design.
How much am I actually paying — and for what? Request a transparent breakdown of all internal costs, including mortality charges, policy fees, and surrender costs.
What if I want to reduce or stop paying premiums? Many policies lapse or lose value quickly if not funded precisely as illustrated.
Are these projected values realistic or just sales illustrations? Ask for a current-rate projection (not hypothetical), so you can see what happens under conservative assumptions.
Who can verify this policy independently? Only a licensed Life Insurance Analyst — like those at LifeInsuranceReview.com (LIR) — can provide a truly independent, unbiased analysis without sales pressure.
For Professionals: Strengthen Client Trust Through Referrals
If you’re a CPA, estate-planning attorney, or fee-only financial advisor, referring clients for a neutral policy review shows due diligence and deepens client trust.
LIR’s success comes from professionals who want their clients to have access to a second independent opinion before — or after — they buy a policy. We complement your role by ensuring the insurance piece aligns with your client’s tax, estate, and investment strategies.
The LIR Difference
Unlike agents or brokers, our review services do not include selling policies — we analyze them.
At LifeInsuranceReview.com (LIR):
We do not solicit policy sales or operate on commissions.
Our focus is on independent evaluation and planning, not product placement.
If — and only if — a client chooses to engage us directly, we can act as their broker to help implement a well-designed insurance plan and find the best policy available for their goals.
In other words, LIR is independent by default and full-service by client request.
Our review and planning services include:
Comprehensive 28-Point Policy Review Checklist
Detailed cost and performance analysis
Tax and estate-planning coordination
Policy restructuring recommendations
Consumer-friendly reports free from sales jargon
When it comes to your financial future, trust should never be sold — it should be earned.
Frequently Asked Questions (FAQs)
1. What is a Life Insurance Analyst?
A Life Insurance Analyst is a licensed, independent professional who can legally evaluate and give advice on insurance contracts for a fee. They do not sell products; their duty is to the client, not the carrier.
2. Why should I get a second opinion after being sold life insurance?
Because life insurance is complex and long-term. A second opinion ensures the policy is cost-efficient, suitable, and aligned with your goals — and that you understand every line before the free-look period ends.
3. Does LifeInsuranceReview.com sell or replace policies?
No. LIR does not solicit or sell policies. Our role is to analyze and plan. However, if a client independently requests our help to implement a plan, we can act as their broker to find the best carrier and product on their behalf.
4. How does LIR work with professionals like CPAs or attorneys?
We partner with trusted professionals who refer clients for independent reviews. LIR’s analysis helps ensure life insurance aligns with the broader tax, legal, and estate framework of each client’s plan.
5. What is the benefit of using LIR during the free-look period?
It allows you to review, question, and confirm your decision before it’s permanent. Our analysts help you understand the policy’s fine print so you can keep, modify, or cancel it with confidence.
6. How does the review process work?
Upload or send your policy documents to LifeInsuranceReview.com.
Our team performs a comprehensive 28-Point Analysis.
You receive a clear, easy-to-understand report with recommendations and next steps — no sales pressure, ever.
Take the Next Step with Confidence
Whether you’ve just purchased a policy or are reviewing an existing one, don’t rely solely on the person who sold it.
Visit LifeInsuranceReview.com to schedule your independent policy review with a licensed Life Insurance Analyst today.
Because when it comes to life insurance, you deserve more than a sales pitch — you deserve the truth.
