Buying term life insurance is an important step in protecting your family’s future. It gives your loved ones financial security if something unexpected happens to you. But before you choose a plan, it’s important to ask the right questions.
At Oros Life Insurance, we want to help you feel confident and informed when you make your decision. Below are the top 10 questions you should ask before buying a term life insurance policy.
1. What Is Term Life Insurance?
Before buying, make sure you fully understand what term life insurance is. It is a type of insurance that covers you for a fixed number of years, also called a “term.” If you pass away during that time, your family will receive money (called a death benefit). If you live past the term, the policy ends.
Knowing this helps you understand the basic idea: temporary coverage for long-term peace of mind.
2. How Long Should My Term Be?
Term lengths usually range from a few years up to a few decades. Ask yourself: How long will my family depend on me financially?
For example:
- Do you have small children who need support for many years?
- Are you still paying off a home loan?
- Are you close to retirement?
Your answers will help you choose the right length—long enough to protect your family during their most important years.
3. How Much Coverage Do I Need?
This is one of the most common and important questions. The answer depends on:
- Your current income
- How many people rely on you
- Outstanding debts or loans
- Future needs like education and healthcare
- Any savings or assets you already have
You can use a simple formula:
(Income replacement) + (Debts and expenses) – (Savings and assets) = Total coverage
Our team at Oros Life Insurance can also help you calculate the best amount for your needs.
4. What Happens If I Outlive My Policy?
It’s important to understand what happens if you reach the end of the term and are still living. In most cases, the coverage will simply end, and no payout will be given.
Ask if your policy allows you to renew, convert, or extend the term. Some policies give you these options, but they may come with different rules or costs.
5. Can I Change My Policy Later?
Life changes—marriage, children, new home, career growth. Ask your provider if you can change your coverage later.
For example:
- Can you increase your coverage?
- Can you extend the term?
- Is there flexibility to adjust the policy if needed?
At Oros, we help you plan for change so you’re never stuck with a policy that no longer fits your life.
6. What Are the Exclusions?
Not all deaths are covered under every life insurance policy. Some policies may not cover certain causes, such as accidents or high-risk activities, especially in the first few years.
Ask for a clear list of exclusions and waiting periods, so there are no surprises. Understanding this ensures your family will receive the benefit when they need it most.
7. What Happens If I Miss a Payment?
We all face tough times. Maybe you forget a payment, or money is tight one month. Ask:
- Is there a grace period?
- Will the policy cancel if one payment is missed?
- Can it be restarted later?
Knowing how flexible the policy is will give you peace of mind in case something unexpected happens.
8. How Do I Choose a Beneficiary?
A beneficiary is the person (or people) who will receive the money from your insurance. You can choose:
- A spouse or partner
- Children
- A family member or close friend
- A trust or organization
Make sure you understand how to name and update your beneficiaries. This ensures that the money goes to the right people without delays or confusion.
9. How Is My Premium Decided?
Your premium is the amount you pay for the insurance. It’s usually based on:
- Your age
- Your health and medical history
- Whether you smoke
- The amount and term of the coverage
Ask what factors are considered, and whether your rate can change later. At Oros Life Insurance, we offer transparent pricing, so you know exactly what you’re paying for.
10. How Do I Apply for Term Life Insurance?
The last step is understanding how to start. Some policies can be applied for online, while others may require medical checks or paperwork.
Ask:
- How long does the process take?
- Will there be a health exam?
- What documents will I need?
- When does coverage begin?
We’ve made it simple at Oros. You can apply easily, get support along the way, and start your coverage without hassle.
Bonus Tip: Work With a Trusted Provider
While asking these 10 questions is a great start, it’s also important to choose a provider that supports you with care, clarity, and honesty. At Oros Life Insurance, we focus on helping you make the right decision—not just selling a policy.
We offer:
✅ Clear answers
✅ Personalized support
✅ No pressure
✅ Straightforward process
We know this is about more than money—it’s about your family’s future.
Final Thoughts
Choosing term life insurance is a big decision, but asking the right questions can make it simple and smart.
Let’s quickly recap the 10 key questions:
- What is term life insurance?
- How long should my term be?
- How much coverage do I need?
- What happens if I outlive the policy?
- Can I change my policy later?
- What are the exclusions?
- What happens if I miss a payment?
- How do I choose a beneficiary?
- How is my premium decided?
- How do I apply?
When you’re ready, Oros Life Insurance is here to guide you.
Ready to Protect Your Loved Ones?
Let us help you find the right term life insurance policy for your needs.
Visit Oros Life Insurance and get your free quote today — it’s fast, friendly, and built around you.
