Should I get a lawyer to help me purchase life insurance?

UPDATED: Aug 6, 2012

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UPDATED: Aug 6, 2012Fact Checked

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Asked August 6, 2012

1 Answer


Buying life insurance is a long term contract between you and the insurance company. In exchange for the coverage provided by the policy, you agree to make premium payments, either for the duration of the policy or until you reach a specific age. As long as you understand the wording of the policy, you can probably handle the contract process on your own, but there are some situations where a lawyer might provide you with some important assistance.

If you are not sure about the wording of your policy, or if you have questions about exclusions or other policy provisions, the best place to start is with your insurance agent or customer service of the company you are dealing with. They are trained to handle the company's products and are able to answer your questions thoroughly. If you are still not satisfied with the answers you get, consult an attorney.

If you are setting the policy up as a trust or managed through the executor of your estate, talking about the provisions with an attorney may help you resolve the details. However, that you can make changes to the beneficiaries of the policy after it has been purchased, so speaking with an attorney beforehand is not necessary. The exception to this might be if you want to arrange the policy in a particular way, and are not sure how much the policy should be for, or the steps necessary to set it up.

Talking with an attorney before you buy life insurance might be a good idea of the policy will be one part of a larger estate settlement. Also, if you suspect that the policy could be disputed after your death, having an attorney explain ways to avoid potential disputes might help you plan out the policy better. In this situation, consulting with the attorney would take place even before you begin the application process, so that you will already know what kind of policy and the value of it before you speak with an insurance agent or apply online.

Answered August 6, 2012 by Anonymous

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