Life insurance, as a financial vehicle, is very difficult to understand. The death benefit and premium are perhaps the easiest components to determine, but that’s where the simplicity ends.

- What’s guaranteed and what’s not guaranteed…?

- Is the premium fixed or flexible - the amount and when it’s due…?

- Are there cash values illustrated in the policy…?

- How do the policy’s costs, expenses, and returns have an impact on the current and future performance of the policy…?

- What happens to the policy if the premium is not paid in cash…?

- How reliable is the illustration that I’m looking at…?

These are just a few questions to consider when trying to understand what policy you have and/or what policy you’re contemplating to purchase.