Life Insurance

[PricklyPete]

So I've always had just some basic life insurance offered through my company. My current company does not offer anything beyond really basic stuff...so I was wondering what companies you guys have gone through for life insurance and would you recommend them?

 

[funkymatt]

aflac

 

[ElFenix]

primerica!

/s

 

[MrChad]

I went through Select Quote and they came back with a good rate with a reputable company.

 

[PricklyPete]

Originally posted by: MrChad
I went through Select Quote and they came back with a good rate with a reputable company.

Thanks...I'll check them out.

 

[boomerang]

Originally posted by: PricklyPete

Originally posted by: MrChad
I went through Select Quote and they came back with a good rate with a reputable company.

Thanks...I'll check them out.

Second the SelectQuote. I was just going to post it. They represent a number of companies and can give you various options.

 

[keird]

SGLI

$27.00 a month for $400,000 coverage.

 

[JS80]

AIG. They are the largest and strongest insurers out there.

 

[PricklyPete]

Originally posted by: JS80
AIG. They are the largest and strongest insurers out there.

Will my wife get an I.O.U. from the government when I kick the bucket?

 

[Kirby]

Originally posted by: PricklyPete

Originally posted by: JS80
AIG. They are the largest and strongest insurers out there.

Will my wife get an I.O.U. from the government when I kick the bucket?

They'll double the amount of gubment cheese.

 

[boomerang]

Originally posted by: PricklyPete

Originally posted by: JS80
AIG. They are the largest and strongest insurers out there.

Will my wife get an I.O.U. from the government when I kick the bucket?

No, she'll get a nice portfolio of derivates. No one will be able to explain them, or how they work, she'll just get an assurance that she has nothing to worry about. Riiiiiiiight!

 

[SphinxnihpS]

Originally posted by: JS80
AIG. They are the largest and strongest insurers out there.

That would be American General (largest among several). AIG is a parent company.

For throwaway term life:

West Coast Life, Banner, and Genworth are the big dogs.

Do you intend on having money later in life? If so, then you should definitely pay more now for term insurance that can be converted to permanent insurance sometime down the road, Northwestern mutual is head an shoulders above all others, followed by Massachusetts Mutual, and Guardian.

Avoid:

Prudential, Travelers, Axa, New York Life, American General

The carrier you decide on will be based on your age, and health. Some top-rated carriers offer better rates to very healthy people, and very bad rates to anyone else, some offer decent rates to everyone, and some offer better rates to less healthy people, but are not competitive in the perfect health market. Then they all change their rates periodically, so you can never keep track of who is doing the best for whom.

 

[SphinxnihpS]

Originally posted by: keird
SGLI

$27.00 a month for $400,000 coverage.

Life insurance pricing is based on your age, sex, health, and whether or not you engage in reckless activities such as smoking or bungie jumping. Since we know none of these things about you, the rate you quoted is meaningless.

You also have to be in the military to get that, and you give up some rights that you would normally have with private insurers. On top of that, it's group life which doesn't even apply to this situation.

 

[PricklyPete]

Originally posted by: SphinxnihpS

Originally posted by: JS80
AIG. They are the largest and strongest insurers out there.

That would be American General (largest among several). AIG is a parent company.

For throwaway term life:

West Coast Life, Banner, and Genworth are the big dogs.

Do you intend on having money later in life? If so, then you should definitely pay more now for term insurance that can be converted to permanent insurance sometime down the road, Northwestern mutual is head an shoulders above all others, followed by Massachusetts Mutual, and Guardian.

Avoid:

Prudential, Travelers, Axa, New York Life, American General

The carrier you decide on will be based on your age, and health. Some top-rated carriers offer better rates to very healthy people, and very bad rates to anyone else, some offer decent rates to everyone, and some offer better rates to less healthy people, but are not competitive in the perfect health market. Then they all change their rates periodically, so you can never keep track of who is doing the best for whom.

Thanks for the info. I'll check out what you suggested. Term life insurance is all I was really considering...but I may have to think about it a little more. I really wasn't setting long term goals with this. It is just that if I passed, I want to make sure my wife is taken care of. My long term monetary goals I had intended on handling myself.

 

[ponyo]

I used this site to get quotes for term life. http://www.term4sale.com/ Easy to use and you don't give any personal info like name or tel number. I bought $1 million 20 yr term from Banner couple years back and am paying $460/yr. Prices are even little cheaper now. I'm going to wait til I'm 40 before picking up additional $1 million 20 yr term. I'm not getting life insurance past 60 because my wife and daughter need to fend for themselves if I make it past the age 60.

 

[Jumpem]

Through my work,, and our insurance company (State Farm).