Your Insurance Agent Meeting Checklist

Scheduling a time to chat with your insurance agent might be the most valuable meeting you have this year, so you want to make the most of it. Fitting this coverage review into your hectic schedule is an important step toward financial security for whatever is ahead—not to mention your own peace of mind.

To make the most of your meeting, here are the key points to consider:

1. Make a list of what you want to discuss.

   Walking out of a meeting and realizing that you forgot to mention something important is never a good feeling. Take the time to jot down changes in your life and questions lingering on your mind. Start your list well ahead of time to give yourself time to prepare.

2. Know your financial basics.

   Be prepared to discuss your household income, and if you keep a monthly budget, bring along its details. When your agent understands where your money is going, they can have a fuller understanding of your priorities. Specifically, know your:

   Assets

   • How much money do you have in your savings account?

   • How much money do you have in your checking account?

   • How much do you have in an IRA, 401(k), or another retirement account?

   • Do you have any stocks or bonds?

   • Do you own any real estate?

   • Do you own a car, a boat, or another vehicle?

   Income

   • What is your annual salary?

   • Do you have income from other sources (e.g., Social Security, pension, real estate income, investment income or dividends, etc.)?

   Liabilities

   • How much do you owe per month for rent/mortgage?

   • Do you have student loans?

   • Do you have unpaid medical bills?

   • Do you have credit card debt?

   • Do you have other insurance (e.g., health, auto, home, flood, etc.)? If so, what do you already have, and how much are the premiums?

3. Bring the details of your existing insurance policies.

   With life changes, this check-in will enable you to review where you are covered and where you are not, making sure your policies are still appropriate and that you do not buy more than you need. Plus, being able to discuss your existing insurance with an agent allows you the opportunity to better understand details you are unsure of.

4. Be ready to discuss financial and family goals.

   Maybe you want to expand your existing coverage due to a marriage or the birth of a child. Maybe you want to see if your healthy choices will lower your insurance premiums.

   • What are your short-term and long-term goals?

   • Why do you need insurance?

   • Who are you protecting?

5. Have household health details handy.

   From medications to medical history, having these details on hand can add depth to your conversation and give your agent the information he or she needs to answer your questions about available products and pricing.

Wherever you happen to be in life, an insurance coverage review is a wise decision.