How many times have you heard the words ‘just sign’ here? If you are like most of us, you have signed your John Hancock at some point in time with little regard to what you were signing and how it could impact your life.

Contracts are important legal documents that must be read thoroughly, understood and questioned. If anyone pressures you to sign a contract, it is essential you resist that pressure and take whatever time you need to read through the document thoroughly, ask questions, and feel comfortable with what you are being ask to sign. You have a duty to yourself and your family to protect yourself from entering into a contract that could compromise you financially. It doesn’t matter who is asking you to sign, or which company they work for. When you sign a contract, you are making a legal commitment.

The following are guidelines that can help you to protect yourself – but remember – your best protection is knowledge and research:

• Do not sign anything until you have read it thoroughly and are sure you totally understand what you are agreeing to.

• If reviewing the contract in front of salespeople is stressful, you may want to ask for a private room or take the contract home to review. If they will not let you take the contract home to consider it, you are probably better of not signing it at all.

• Be especially concerned if anyone asks you to sign a contract you have not read. This should be a big red warning sign that something is not right.

• Don’t skim. Read the entire contract thoroughly before signing it. I know it is boring, but don’t let that lull you into a false sense of security.

• Ask questions. If something in the contract is not clear, ask for clarification. If the answer is not clear, ask again. Don’t let a convoluted contract intimidate you. Don’t be embarrassed to ask questions – the only dumb question is the one not asked.

• Make sure you do your research before dealing with a contract. Knowing the terms used in a contract will help you make better and informed decisions.

• Review the contract with a pen and cross out parts you do not agree with. Review the changes with the salesperson and have them initial your changes.

• Add clauses you think are missing from the contract. Ask the salesperson to initial their agreement. If they do not have the authority to make contract changes – then you are dealing with the wrong person and need to be dealing with the person who can make contract decisions.

• Never sign a contract that has any blank spaces that could be filled in later. Fill them in or cross them out.

• Ask for a complete, accurate, signed copy of the contract for your records.

If at any time during the signing process you feel uncomfortable – walk away. You can always go back. If it means missing the “deal of a lifetime” you will soon discover that there are many many deals of a lifetime that will come your way. You are better off to pass on a questionable contract – than to take unnecessary financial risk for yourself or your family.