Life Insurance?

[helengaoud]

Hello everyone.My husbandand Iare looking into life insurance. Can anyone tell me which company or websites I can use to get information. There are so many out there... wouldnt know where to start. Who do you personally use? What type of premiums are you paying? Is it fixed or does it go up every few years? Any help would be appriciated.

[Angio333]

I would stick with a fixed term policy. Make sure the prmiums are fixed. I know that some people will disagreem, get the guarenteed renewable. The length of time (10, 20, 30 yrs)and the amount of coverage depends on your individual needs. The price of premiums will depend on your age, health, etc.

[dczech09]

I say get a fixed level term life policy. Either get a 30 year policy, or a 20 year with guaranteed renewable rider.

Avoid any policy that builds a "cash value." The agent will sell the cash value as a benefit for you, when in reality it is more of a benefit for the insurance company, especially the longer the policy stays in force.

Google term life insurance and you will find some site. Zander Insurance and SelectQuote are two names to look at; they are independent broker/dealers that can get you numerous rate quotes. If you go with a personal agent, pick one you can trust. The moment someone mentions a cash value policy, walk away. Hope this helps.

[txmom842]

Term is the way to go. Try to get the longest term available for your age and budget. Theterm lifeshop.com helped us pick an affordable policy. Knowledgeable agents with great prices! Best of luck with your search. Also try term4sale.com.

[riverwed070707]

We found our plans through Zander

[jteezie]

How old are you two?

Term is best way to go, generally.

[facebookdigg123]

get a 30 yr term. my family would be living on the streets if my dad didnt have life insurance.

[kalimaniac]

Rates are great nowadays. Easy to find online or ask friend for a referral. I got 750K for $27 a month, 10 year term.

[Brocksby]

I think most of the home owners consider it compulsory for them to take home insurance. There is no doubt that You want to secure your home first in order to secure your family life. Home is then most precious belonging of any person. So home insurance has become the prime priority for every home owner.

[scot184]

There are multiple types of life insurance without different costs and coverage. You'll need to do a ton of research before deciding on one...

[mackdollar]

Finding sites that offer free life insurance quotes and comparisons of life insurance policies of different companies is at the click of the mouse. However, it is important to do enough research before zeroing in on the site you will be using as a resource. Sites that are accredited by reputed financial institutions and recommended by the media are often reliable, unbiased and trustworthy.

[am_vanquish]

I agree with all the advice to go with a Term Policy. We used Zander Insurance Group because they're recommended by Dave Ramsey. Their website asks for your basic info (age, health status, etc.) and then gives you quotes for several different companies.

We purchased a 20-Year Term policy for $400,000 from Liberty Mutual for a monthly premium of $13.81 for me (male, 24, very good health), and a $250,000 10-Year Term policy from Liberty mutual for my wife (female, 24, average health).

[henrywilliams]

well I would suggest you to search online and select the best one according to your need and requirements as there are various companies that offer different premium policy

[patrecia]

There are lots of option in the market for the insurance companies but you should choose one which has a nice repetition in the area and provide nice returns after the policy get matured you can see some of the options like given that whether it fits into your needs.

[Robert742]

Originally Posted by dougm

What type of insurance you get depends on your needs. Most folks will tell you to only buy term insurance, but I think the statistic is that less than 5% of policyholders make a claim on their insurance (they die outside the term). I sell both term and "cash value". Cash value insurance gets a bad rap when in fact it is a superior retirement strategy to IRAs and 401(k)s. You get a decent return and can structure it so you get tax free distributions for life, plus leave tax free money to your heirs and do it without risking your money in the stock market.
To me risk is the most important factor to consider. Risk that you'll outlive your term policy. Risk that you will outlive your money/assets. Most money in IRAs and 401(k)s is at risk in the stock market. I would be glad to give you an comparative analysis based on your needs.

LOL! Cash value life insurance gets a bad rap because of sales people making dubious claims about it being a superior retirement strategy to IRAs or 401(k)s.

If you or your spouse's death will cause a financial hardship to the surviving family members, you need at the very least, a term life insurance policy long enough to cover your working years.

But you or your spouse's death, after your work years, can still create a financial hardship for the survivor. SSN benefits will be reduced, you may still have debt, like a mortgage you did not plan on having when you were younger due to unforeseen circumstances. A stock market crash can sink your investments for decades. Assets can be depleted due to health care costs and long term care not covered by insurance, etc.

If providing financial support to the people you leave behind WHEN you die, not just if you die unexpectedly during your working years, is important to you, you should look at permanent life insurance.

There is a relatively affordable type of permanent life insurance designed to not build up cash value, but provide a lifelong death benefit, at a price much less than a lot of cash value life insurance.

A guaranteed universal life insurance policy may be the best value for you. If permanent life insurance appeals to you, find a couple of good independent life insurance agents to help you decide what is best for you. A good agent will recommend term, universal life, or whole life depending on your goals & financial situation. They will ask you questions, and not recommend a product until they know you, your goals, and your finances. Avoid agents pitching you cash value life insurance as a retirement plan, because it turns out to be an expensive mistake for most people, except the agent selling it to you.

Cash value life insurance, such as whole life, can be a great product for financially disciplined people, making a very good income, saving a lot of their income, with no high interest credit card debt, saving enough money for retirement, but wanting another place to put money with tax advantages and no market risk. Does this describe a lot of people you know? If you know a lot of wealthy, frugal people, Whole Life insurance may be a good choice for them.

If a cash value life insurance policy interests you, conduct your due diligence, because some policies are awful, and some can perform very well, and they are EXTREMELY complex products for most people to understand.