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life insurance

johalljohall Member Posts: 1,085 ✭✭✭✭
edited May 2006 in General Discussion
what is a good company for life insurance. I'm 28 years old and the only thing i have is 30,000 through the company that i work for. i have a wife and one kid and one on the way and i'm looking into getting about 100,000 to 150,000. enough to cover the house funeral and living expenses for awhile if something should happen to me. i've never had live insurence from anywere but work and i dont know were to even start looking
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  • johalljohall Member Posts: 1,085 ✭✭✭✭
    edited November -1
    Finally bought a 20-year term of $500,000. At age 42, my wife was getting a little nervous but now she and our boys will be covered should something happen.
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  • johalljohall Member Posts: 1,085 ✭✭✭✭
    edited November -1
    I need some ..Any ideas or suggestions for a good company for a 46 male, does not smoke , 9 years in remission from cancer.. ?
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  • 74cuda74cuda Member Posts: 417 ✭✭✭
    edited November -1
    Do you have homeowners insurance?? Check with them about life insurance and then check with a couple of others
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  • iwannausernameiwannausername Member Posts: 7,131
    edited November -1
    see if you can up the coverage thru work...
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  • spanielsellsspanielsells Member Posts: 12,498
    edited November -1
    Try an agent that you've experience with first. If you trust them, you're likely to trust a company that they write for.

    Barring that, you've got netquotes.com, insurance.com and some others available that will "shop around" for you. You might also want to check out LowerMyBills.com.

    My suggestion would be to visit with an insurance agent who sells for multiple companies. They're often able to direct you to a company that can best suit your needs.
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  • CubsloverCubslover Member Posts: 18,601 ✭✭
    edited November -1
    We have life insurance through The Hartford.

    I have over $400,000
    Wife has $25,000 because she doesn't want to get a physical every year.

    It's through my company so I don't know what normal rates are, it costs us around $25/mo
    Half of the lives they tell about me aren't true.
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  • gskyhawkgskyhawk Member Posts: 4,773
    edited November -1
    check with your local agent , that you have your home or auto thru , go with a good 20 or 30 year term policy , stay away from whole life or any of the other so call permanent policy, they just rip you off , try to find one that you can list the whole family on , you as the primary, wife secondary , and with a child rider , ,

    cover the kids for final expenses only $5000 to 10,000 each ,
    you should have at least 10 times what you make /year,
    non working wife should be cover for , house loan, funeral expenses, daycare to replace her if she passes and something to cover your loss
    of income, which will happen if she where to pass away .

    remember you want your own policy , don't just buy thru your work , because if you leave your job , you can't take the insurance with you in most cases

    if you and your wife are non-smokers and if good health you should be able to get what you need for (just guessing now ) around $50 month give or take

    I say this because I have this type , ( 20 year term ) I was 37 , wife was 30 and 2 kids , when we took it out , pay just over $60 month and that is with I think $400,000 in total coverage


    cublovers : why would your wife need a physical every year? any insurance company that I know of , you get one before they insure you and thats it , once you are insured , if your health changes it doesn't matter , a life insurance company can not change yor rate or drop you once you are insured and you keep your payment in on time
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  • tccoxtccox Member Posts: 7,379 ✭✭
    edited November -1
    Check with ZANDER and only get term insurance. Dave Ramsey recommends them. Tom
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  • HAIRYHAIRY Member Posts: 23,606
    edited November -1
    gskyhawk is giving you great advice.
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  • 00scoots00scoots Member Posts: 410 ✭✭
    edited November -1
    Consumer Reports has had some very in-depth reviews of insurance companies, an explanation of the types of life insurance available, advice on selecting a life insurance policy, and their reviews of many (not all) life insurance companies.

    After reading their reviews I found out that I was with a poorly rated company, that had poor customer service, and was WAAAAY over charging me! I switched to a company that had a very good customer service profile and I have not regretted that decision.
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  • sig232sig232 Member Posts: 8,018
    edited November -1
    I agree, "Gskyhawk" is giving good advice. Stay away from the insurance savings programs called "Whole Life", "Endowment" and many other stealth discriptions. They only pay you a small return on your money. ALWAYS BUY TERM INSURANCE!

    I would consider talking to your HR department at work. Many times your can increase your insurance very cheaply by a small payroll deduction. Many company plans allow you to buy more term insurance. It is usually the cheapest option because of the size of the group.
    But the downside is if you leave the job you lose the insurance.

    Shop around for the best price. Prices are all over the place. Find a broker you can trust that handles many different companies and look for the deals. Its a bit of a mine field out there in insurance land.

    Good Luck!
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  • zipperzapzipperzap Member Posts: 25,057
    edited November -1
    quote:00scoots:
    Consumer Reports has had some very in-depth reviews of insurance companies, ... I switched to a company that had a very good customer service profile and I have not
    regretted that decision.

    OOscootsabf34285.jpg


    Most folks don't realize there is a BIG difference between a 'good' insurance and a
    'bad' insurance company![:D]
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  • 00scoots00scoots Member Posts: 410 ✭✭
    edited November -1
    quote:Originally posted by zipperzap
    quote:00scoots:
    Consumer Reports has had some very in-depth reviews of insurance companies, ... I switched to a company that had a very good customer service profile and I have not
    regretted that decision.

    OOscootsabf34285.jpg


    Most folks don't realize there is a BIG difference between a 'good' insurance and a
    'bad' insurance company![:D]




    I know I didn't!!!

    Lots of good advice on this forum about increasing your coverage thru your place of employment (does disappear if you leave the job) and TERM life insurance!!!

    Consumer Reports agrees with term life insurance being a better value for your insurance coverage.
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  • Blade SlingerBlade Slinger Member Posts: 5,891
    edited November -1
    forget Met Life! robbed me of thousands[:(!][:(!]
    Shop around, get more than one estimate. Do not lie about smoking or drinking, later this little lie could breach your deal.
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  • zipperzapzipperzap Member Posts: 25,057
    edited November -1
    Here's an example of how confusing insurance can be!

    7dc423ee.jpg[:D]
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  • sig232sig232 Member Posts: 8,018
    edited November -1
    Thats Funny!!![8D][8D] The ole Zip is back from fishin!
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