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life insurance question
Posted on 1/21/09 at 9:29 am
Posted on 1/21/09 at 9:29 am
I got some quotes on term life insurance policies and the cost differs by a pretty good bit.
are the policies that different? are you just paying for the name? even though all 3 companies are highly rated and well known, 1 is more well known.
are the policies that different? are you just paying for the name? even though all 3 companies are highly rated and well known, 1 is more well known.
1
Posted on 1/21/09 at 2:14 pm to chuckie
All life companies have their own actuarial tables. These people have the horn rimmed glasses and the pocket protectors. To try and figure the tables out will make you go crazy.
Each company looks at the age of the proposed customer, mortality rates, the history of the people they have insured and amount of coverage and term or whole life.
The financial stability of the company plays a major role in their rates.
Low,low rates can be offered by fly by night companies or companies that are not very strong financially. Look for discounts when applying.
Each company looks at the age of the proposed customer, mortality rates, the history of the people they have insured and amount of coverage and term or whole life.
The financial stability of the company plays a major role in their rates.
Low,low rates can be offered by fly by night companies or companies that are not very strong financially. Look for discounts when applying.
Posted on 1/21/09 at 9:27 pm to LSUPIMPRGB
what I'm asking is, given 3 different companies all offering term life for the same period of time, 20 years, all are rated similarly, and well thought of companies.
One costs signifantly more than the others.
What could be the difference in the policies?
Of course, they all want to take a little time to show some whole life blah, blah ,blah and why it would be sooo beneficial for me.
One costs signifantly more than the others.
What could be the difference in the policies?
Of course, they all want to take a little time to show some whole life blah, blah ,blah and why it would be sooo beneficial for me.
Posted on 1/22/09 at 5:24 am to chuckie
look into the different type of riders that are associated with the policies. Ex. Disability, Payor, etc. That could be the main difference or just one company trying to make more on the policy. If you have any interest in receiving free financial planning with term life in with the plan email me and i can set you up zboudreaux@eatel.net
Posted on 1/22/09 at 8:50 am to chuckie
Watch "The Rainmaker"
Then you will know why one is cheaper than the other
for me its quality over quantity
also look at the differet riders too
Then you will know why one is cheaper than the other
for me its quality over quantity
also look at the differet riders too
This post was edited on 1/22/09 at 8:51 am
Posted on 1/22/09 at 10:11 am to shalervol
Chuckie
email if you have any more questions.
safdek23@yahoo.com
email if you have any more questions.
safdek23@yahoo.com
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