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Life Insurance...is this a decent quote?

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R

RU482

Lifer
I am 34, non smoker, anti depressant junkie (I'd kick it, but the withdrawal side effects are 10x worse that the anxiety ever was), good health and sturdy genes. Got the quote from a buddy who sells insurance (thus my concern) and I live in Iowa

Protective Life (Standard Non-Smoker)
20 Year 250K $26.25/Month
20 Year 500K $45.94/Month

TransAmerica
30 Year 250K $41.50/Month
30 Year 500K $76.13/Month

any good?
 
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They are term. Hence the 20yr/30/yr at the beginning.

Edit: Where did you get the quotes from? I'm assuming they are Preferred Standard and not Elite or highest band ratings? Also, what state are you in?
 
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Modular said:
They are term. Hence the 20yr/30/yr at the beginning.

Edit: Where did you get the quotes from? I'm assuming they are Preferred Standard and not Elite or highest band ratings? Also, what state are you in?
Click to expand...

thank you...added info to the OP

/facepalm
 
Do you actually need term life? If you aren't married with kids the answer is probably not.

If you're debt-free, have several months' worth of expenses in a savings account, and have a good start on your retirement investments then maybe it makes sense for the peace of mind of "locking in a good rate."
 
DaveSimmons said:
Do you actually need term life? If you aren't married with kids the answer is probably not.

If you're debt-free, have several months' worth of expenses in a savings account, and have a good start on your retirement investments then maybe it makes sense for the peace of mind of "locking in a good rate."
Click to expand...

I have 3 kids and a wife. I just want to make sure they are covered thru college...which a 20yr plan would do. Just got a healthy raise/promotion, contribute 20% to retirement, and have a decent plan to get debt paid off by years end. Just want to make sure if I have a legacy, it is a good one and not some friggen bills. I also have little idea what this coverage should cost (seems reasonable, but I hate to overpay).
 
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