Term Life Insurance shopping: Is one place as good as another?

[PingSpike]

I'm shopping around for this but I don't really know how much shopping I should do. Should I just call a few places and try to get quotes on price or is it not going to vary that much? Anything I should watch out for or suggestions on what to look for?

 

[FoBoT]

as long as the underwriter has the top rating, then just go with the low price

...buy only from companies that are rated A++ by AMBest.com. Most comparison shopping sites will show you the A.M. Best rating next to the quote.

http://www.clarkhoward.com/news/cla...erm-life-insurance-help-dependents-even/nFp7/

 

[dud]

Avoid term life ... buy term and invest the rest.

 

[JPerk]

If you have medical conditions, some may handle them better than others. For instance, company A may give you the preferred rate with high blood pressure while company B may only give you a standard rate for the same medical history. This also applies to tobacco use.

 

[D1gger]

Avoid term life ... buy term and invest the rest.

Not sure I understand what you mean here. Can you explain?

 

[DrPizza]

Not sure I understand what you mean here. Can you explain?

I think he meant, "avoid whole life." Whole life is worth it for a small percent of people, but for the vast majority of us, it's just a way for the insurance agent to make more money.

 

[MustISO]

I need to start looking into this as well. My old company had great life insurance options, new company does not.

 

[PingSpike]

I think he meant, "avoid whole life." Whole life is worth it for a small percent of people, but for the vast majority of us, it's just a way for the insurance agent to make more money.

Yeah, I'd assume that is what he meant. I have no intention of going for whole life, I've read a bit about it and it seems like a very poor deal...which is why I titled my thread 'term life'. 😛

I have no abnormal medical conditions, although I feel like I could stand to lose 10-15 pounds.

Can anyone recommend a good comparison site?

 

[Fritzo]

Whole life can make sense if you're in your 40's and still have young kids. It made sense in my case. AAA (American Automobile Association) actually has a decent whole life program with low fees and a decent investment return, however their program requires a membership fee to AAA be maintained.

 

[FoBoT]

You can comparison shop for quotes at any of a number of sites like http://Insure.com and http://AccuQuote.com. By shopping online, you avoid an insurance salesperson trying to up-sell you from level term coverage to whole life.

 

[rsutoratosu]

I need to start shopping for this soon. Got a lot of reading to do.. i'm only 32, so term is still the way to go ?

 

[FoBoT]

... is still the way to go ?

yes, keep investments and insurance separate

 

[JimKiler]

If you live in Minnesota get the cheapest you can, we have a state fund to payout even if the company goes belly up. But of course when you sign your insurance deal the first page is from the state saying not to do what I just wrote.