You should receive an answer to any question:

You have the right to ask any question and to receive an answer.  The answer should fully and completely address your question. If you don’t understand something, ask questions. If you still don’t understand, you shouldn’t buy that financial product.

Be sure to reference the following checklist during any insurance purchasing and monitoring lifecycle:

  • Ask questions.
  • Take notes.  Document all key decisions and directions.
  • Meeting minutes.  Ideally, it should come from the advisor/agent/broker/financial services company; however, you can also summarize any conversation and send it in an email.
  • Get everything in writing. This includes: responses or summaries of conversations, recommendations, quotes, proposals and other product & marketing documentation. If it cannot be committed to writing, it should be a huge red flag and a sign to walk away. Responses and summaries can easily be done by email.
  • Review the financial services product before accepting it. Be sure you are comfortable with the  product terms and that it is exactly what was mutually agreed upon. Point out anything questionable, including items that may have been added to the original application.

Resources:

Choosing A Financial Advisor

Financial Advisor Research Checklist

Tips To Protect Yourself

Blog posts, articles & media:  (click to view)

Compensation Conundrum - Best's Review - August 2001

Books:

Informative Links and services:

Coming Soon!

Join #GETREADY - Be Financially Prepared

Sign up for a periodic look at ways that you can stay financially prepared. You’ll receive tips and resources to help you #getready and #stayready.
Powered by ConvertKit