Due Diligence Questions for Buyers of Life Insurance

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.