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Started By
Message
Which Term Life Insurance Company
Posted on 8/24/13 at 11:56 pm
Posted on 8/24/13 at 11:56 pm
does it really matter who I go with, as long as it's a financially stable company? Should I just go with the cheapest?
I currently have everything with Allstate (home and truck) and was going to get a quote with them.
I currently have everything with Allstate (home and truck) and was going to get a quote with them.
6
Posted on 8/25/13 at 3:16 am to LSU6262
Obviously go with the financially strongest companies as you want them to be best suited to pay your claim quickly and easily.
There are other options that different companies offer like Disability Waiver of Premium that some companies offer. (It isn't the same at every company, even though it is called the same benefit).
I always say look at the best companies, New York life, northwestern mutual, mass mutual. However, for the most part, term insurance is pretty similar everywhere, and costs don't vary greatly.
There are other options that different companies offer like Disability Waiver of Premium that some companies offer. (It isn't the same at every company, even though it is called the same benefit).
I always say look at the best companies, New York life, northwestern mutual, mass mutual. However, for the most part, term insurance is pretty similar everywhere, and costs don't vary greatly.
This post was edited on 8/25/13 at 3:18 am
Posted on 8/25/13 at 8:24 pm to LSU6262
go to select quote they rate them
or just go to Zander
or just go to Zander
Posted on 8/26/13 at 2:32 pm to LSU6262
call Legacy Financial, they are on South Sherwood Forest. ask for Jason Inman, i got my term life thru them and the monthly premium is low 
Posted on 8/26/13 at 3:03 pm to 756
quote:
just go to Zander
Posted on 8/26/13 at 3:23 pm to 756
Zander and select quote don't show everybody, and there is much more to it than a pure monthly cost comparison.
Posted on 8/26/13 at 4:10 pm to GoCrazyAuburn
I agree with everything GoCrazyAuburn said
Posted on 8/27/13 at 12:41 pm to bbrou33
I have used Select quote for years I get the rates and companies and then call my local agents NOT ONCE have they been able to offer a better choice than Select quote presents
I do allow my agent to write the contract as he has access to the same companies
I do allow my agent to write the contract as he has access to the same companies
Posted on 8/27/13 at 1:19 pm to 756
quote:
been able to offer a better choice
How do you define better?
Posted on 8/27/13 at 1:40 pm to 756
I love the people who buy online then want an agent to assist them with service.
Posted on 8/27/13 at 1:53 pm to iknowmorethanyou
Yea. Zander recommended a policy from Savings Bank Life. Yea, no. I wouldn't have faith of them paying any size claim
Posted on 8/28/13 at 11:07 am to GoCrazyAuburn
I have no issues whatsoever with SBLI. I don't use them often, but if a prospect really has to have the best price, then I'll go with them. I find their underwriting to be myopic and unattainable. I can always quote a low price, but delivering a policy with the lowest rate isn't always with the lowest quoted carrier.
Posted on 8/28/13 at 11:42 am to iknowmorethanyou
quote:
can always quote a low price, but delivering a policy with the lowest rate isn't always with the lowest quoted carrier.
Very true. There are some companies (even some of the larger ones), and it to this day astonishes me how low of a % of applicants get their best rate. It is pretty crazy.
quote:
have no issues whatsoever with SBLI
I'd rather my client spend the extra few bucks a month to get with a company thy is at least rated by all the financial rating companies
This post was edited on 8/28/13 at 11:43 am
Posted on 8/28/13 at 11:49 am to GoCrazyAuburn
some people are that cheap and rigid...*cough* engineers *cough*. Posted on 8/28/13 at 12:04 pm to iknowmorethanyou
Very true.
Posted on 8/28/13 at 12:06 pm to LSU6262
I have Hartford
Posted on 8/28/13 at 12:07 pm to ItNeverRains
Lincoln National here.
Posted on 8/28/13 at 12:18 pm to ItNeverRains
quote:
I have Hartford
Now we both have Prudential
Posted on 8/28/13 at 5:24 pm to LSU6262
I got a term policy a few years ago, don't remember who it was with. I'm early 30's.
Had the Primerica sales folks stop in and look it over to see if they could offer anything better. My current term is for 20 years, and they pointed out that under my policy at the end of the term that I can either pay the yearly rate (pretty damn high), or that I can switch to a whole life policy...I'm not really into the whole life policy deal so that doesn't look good.
They claimed that with their term, I could get a 30 or 35 year term, that I could renew it at the end of the term without bloodwork/physical exam at something like only double the annual payments under the policy they would be writing.
Due to some life changes, I probably need to get a new policy (higher amount) and I like the idea of getting a longer term.
Aside of price comparison, how can you really compare the terms and conditions from one policy to another prior to buying and are many terms negotiable? Are the issues they pointed out worth demanding and do many insurers offer them?
Is Primerica's life insurance sales a scam, or legit?
Thanks, I'll hang-up
Had the Primerica sales folks stop in and look it over to see if they could offer anything better. My current term is for 20 years, and they pointed out that under my policy at the end of the term that I can either pay the yearly rate (pretty damn high), or that I can switch to a whole life policy...I'm not really into the whole life policy deal so that doesn't look good.
They claimed that with their term, I could get a 30 or 35 year term, that I could renew it at the end of the term without bloodwork/physical exam at something like only double the annual payments under the policy they would be writing.
Due to some life changes, I probably need to get a new policy (higher amount) and I like the idea of getting a longer term.
Aside of price comparison, how can you really compare the terms and conditions from one policy to another prior to buying and are many terms negotiable? Are the issues they pointed out worth demanding and do many insurers offer them?
Is Primerica's life insurance sales a scam, or legit?
Thanks, I'll hang-up
This post was edited on 8/28/13 at 5:26 pm
Posted on 8/28/13 at 5:35 pm to Tiger at Law
quote:
They claimed that with their term, I could get a 30 or 35 year term, that I could renew it at the end of the term without bloodwork/physical exam at something like only double the annual payments under the policy they would be writing.
I actually had a client call me and tell me he had been approached by somebody about this. I had never heard of this in a term policy (except for obviously what you have available to you with renewing your term after the 20 years at a yearly basis). Those premiums do get ridiculously high.
My client is meeting with the guy next week to see what they have to say. I am very curious to get a look at it, considering until now, I had never heard of a term policy that once it is up, you can just renew it. Though, not to be pessimistic, with my dealings with Primerica in the past, I don't have a lot of hope for it being a great policy. Don't have a good history with them personally.
As far as comparing stuff, you can request a sample contract from the insurance company to compare the languages of the policies. Also, there are benefits that differ on policies such as:
1. Disability Waiver of Premium. Some companies include it, some don't unless you ask. Some don't even offer it. The ones that do offer, it usually only pays the term premium if you are disabled. There are a few that actually convert the policy to WL for you, they pay the premium, and you get all the benefits. I think anyone is foolish who doesn't get some form of this on their term as it is crazy cheap.
2. Conversion periods. I know you stated you aren't interested in WL, but to some this is important. Some policies only allow conversion for X number of years.
3. Dividends on term policies to reduce premiums
Those are a few basic examples of stuff to think about that differ between contracts
This post was edited on 8/28/13 at 5:39 pm
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