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Life Insurance
Posted on 8/30/11 at 5:24 pm
Posted on 8/30/11 at 5:24 pm
I really am hesitant to post something about life insurance because i know 100 guys will email me asking for business.
Im looking to get coverage for me, my wife and two kids, both under 3. Im looking into term coverage, either 20 or 30 years. Im 31, wife is 32.
I recieved a quote from MetLife of around $32 for me and 28 for my wife. He said the kids are $19 a piece because its permanent life and only 50k. our coverage is for 300k a person.
Any advice on if this is a good rate or not? i think 30 is the best option because it will get us close to retirement at a locked rate. I can always add more coverage in a few years.
Also what other companies do you recommend if MetLife doesnt cut it?
Thanks
Im looking to get coverage for me, my wife and two kids, both under 3. Im looking into term coverage, either 20 or 30 years. Im 31, wife is 32.
I recieved a quote from MetLife of around $32 for me and 28 for my wife. He said the kids are $19 a piece because its permanent life and only 50k. our coverage is for 300k a person.
Any advice on if this is a good rate or not? i think 30 is the best option because it will get us close to retirement at a locked rate. I can always add more coverage in a few years.
Also what other companies do you recommend if MetLife doesnt cut it?
Thanks
4
Posted on 8/30/11 at 5:45 pm to dallastiger55
I would say those are pretty fair rates. I'm guessing you are both fairly healthy, non smokers?
Definitely try and talk to somebody from New York Life and Northwestern Mutual if nobody else. I consider them some of the most solid companies financially, which is very important when considering where to get LI. Those are two of the "big dogs" if you will, and it is always good to look around and see where you feel most comfortable. Talking to somebody at Northwestern will be the only way you will be able to see what they have as no outside agents can broker their products.
You definitely want to make sure that whoever you go with, you are comfortable with the agent, and he is somebody you believe will be willing to get together with you regularly and not sell you and forget about you.
Definitely try and talk to somebody from New York Life and Northwestern Mutual if nobody else. I consider them some of the most solid companies financially, which is very important when considering where to get LI. Those are two of the "big dogs" if you will, and it is always good to look around and see where you feel most comfortable. Talking to somebody at Northwestern will be the only way you will be able to see what they have as no outside agents can broker their products.
You definitely want to make sure that whoever you go with, you are comfortable with the agent, and he is somebody you believe will be willing to get together with you regularly and not sell you and forget about you.
This post was edited on 8/30/11 at 5:47 pm
Posted on 8/30/11 at 6:11 pm to GoCrazyAuburn
yes thanks for the tip, i forgot to mention we are both healthy and non smokers.
thanks for the tips, i will look for those
thanks for the tips, i will look for those
Posted on 8/30/11 at 6:57 pm to dallastiger55
Zander Insurance - Good enough for Dave, good enough for me.
The Truth about Life Insurance
The Truth about Life Insurance
This post was edited on 8/30/11 at 6:58 pm
Posted on 8/30/11 at 7:06 pm to Will Cover
quote:
Good enough for Dave, good enough for me.
Here we go....
Posted on 8/30/11 at 7:08 pm to Will Cover
quote:
Zander Insurance
I would be wary of them, but thats just me. I do not trust them as a secure financial institution like some of the older companies. If i'm getting LI, I want it to be from somewhere that I know will still be around and be able to pay the claim if something happened.
This post was edited on 8/30/11 at 7:09 pm
Posted on 8/30/11 at 7:26 pm to GoCrazyAuburn
I agree, and the fact that term insurance across the board is very cheap no matter what company you go with. But i'll ask you this, when the rates are so competitive everywhere, why would you avoid being with the two top companies in the industry?
The two who have been around a LONG time and have consistent performance.
The two who have been around a LONG time and have consistent performance.
This post was edited on 8/30/11 at 7:28 pm
Posted on 8/30/11 at 7:27 pm to GoCrazyAuburn
quote:
GoCrazyAuburn
Looks like you and I need to get together and compare some notes.
Posted on 8/30/11 at 7:48 pm to GimmieSomeGlitter
quote:
GimmieSomeGlitter
Seems we are in the minority here
Posted on 8/30/11 at 7:50 pm to GoCrazyAuburn
That's ok, we know... Just a quick question did you head up there this past month?
Posted on 8/30/11 at 9:54 pm to GimmieSomeGlitter
quote:
Inflation.....I crush it!
That seems familiar...
Posted on 8/30/11 at 10:11 pm to GoCrazyAuburn
What about Mass Mutual? Im got recruited and am wondering if i should go through with it.
Posted on 8/30/11 at 10:14 pm to toopotent
They are good, but Northwestern #1 and NY Life #2.
Posted on 8/30/11 at 11:11 pm to dallastiger55
I wouldn't insure the kids, and use the money to bump up you and your wife's coverage to 500k each. There's no point to have life insurance if you don't have an income, IMHO. I see life insurance as income replacement for the family if an income earner dies.
Posted on 8/31/11 at 2:54 am to Ric Flair
$1M at he least and put a $10k child rider for each child on the policy. 30 year convertible term is a good bet.
Posted on 8/31/11 at 9:04 am to dallastiger55
quote:
I really am hesitant to post something about life insurance because i know 100 guys will email me asking for business.
quote:
I recieved a quote from MetLife of around $32 for me and 28 for my wife. He said the kids are $19 a piece because its permanent life and only 50k. our coverage is for 300k a person
I promise nobody is gonna beat down your door to write a $50 a month policy Chief.
Posted on 9/12/11 at 12:02 am to Broke
first off, don't insure the kids. second, get a whole life quote on you and the wife. then get a quote on term. get the term, invest the difference. enjoy. and my advice didn't cost you a cent. nice huh?
Posted on 9/12/11 at 7:21 am to Lafman
quote:
first off, don't insure the kids
curious as to why you say that.
Posted on 9/12/11 at 7:33 am to GoCrazyAuburn
horrid as this sounds, life insurance is to replace the income of the income makers, not to insure a kid.
Posted on 9/12/11 at 8:45 am to Lafman
IMO...
On insuring your children, so long as you have 10-15K in the bank that you can access to cover funeral expenses (not very expensive in the case of a child) and time to recover from the loss (meaning to cover loss of income while you get your mind back) you should not need to cover the kids.
Unfortunately I am speaking from first hand experience on this.
On insuring your children, so long as you have 10-15K in the bank that you can access to cover funeral expenses (not very expensive in the case of a child) and time to recover from the loss (meaning to cover loss of income while you get your mind back) you should not need to cover the kids.
Unfortunately I am speaking from first hand experience on this.
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