Life Insurance Recommendations

[dfchelbay]

Hi all, it's been another ten years since we have looked into life insurance and the time has come to renew with our current carrier. Before we go ahead and sign on again with the same company, I wanted some recommendations from you all on who is good and reputable. We have been with this same company forever and it is time to look at other companies to see how they compare. So, if you can recommend a life insurance carrier, we can look into them and their rates for our life insurance needs and go from there. So, who is reputable and who do you all trust for your life insurance policy needs? Thanks.

 

[Jeff_G]

I used one of the many companies that will take you information and shop for you. Some were very pushy some were not. I went with 20 year term and user Zander insurance to shop it for me. They were they most helpful least pushy of the companies I had contacted.

 

[mickeytattoo95]

I only do Term policies as well and Zander was fantastic to work with!

 

[lost*in*cyberspace]

We have always used USAA for all of our insurance. You have to be military or military affiliated though.

 

[goodfood4ursoul]

So, if you can recommend a life insurance carrier, we can look into them and their rates for our life insurance needs and go from there. So, who is reputable and who do you all trust for your life insurance policy needs? Thanks.

My husband spent a couple of years as an insurance agent,
before retiring to become a town manager.
Anyhoo, it was a great experience in that he learned a ton of stuff
that helps him on the job today, and we updated our life insurance
with some great policies

We have one of his policies with Foresters.
http://www.foresters.com/US-EN/products-services/Pages/Product-Filing-Numbers.aspx
Term life, with a rider that if he outlives the policy, all premiums are refunded.
Now that's a win-win proposition

Not only that, but Foresters has some great college scholarships available
and our son won an award for $2,000 last year from them.

 

[clm10308]

We get our through the Knights of Columbus, but I think you have to be a member.

 

[savannie]

We also used Zander and ended up with Reliastar/ING. Everything went very smoothly and I've had no problems (had it for several years now). Our rates are great, as well, but we were quite young when we signed up--maybe 23 or 24?

 

[navywifetill2002]

We got ours 3 years ago when our DD was born and went through State Farm.

We ended up with a 20 year Term with ROI which I love. The price per month was a little more but I'm praying we out live the 20 year policy and with the ROI option we get all our payments back 1 year after our last payment. Other then the ROI it woroks just like a normal term policy. When we get the money back in 17 more years we're planning on taking a small trip and rolling the rest into a retirement account.

On a side note we have enough to cover our remaining mortgage and have 1 year "salary" to get the other person back on their feet.

 

[a1tinkfans]

As far as reputable....the rating is not what your looking for right? I mean only those that collected rally know how the carrier handled its "claim"...
I think you mean rates...you can shop around...and my only suggestion TERM policies and get them for the longest period you can get and what you can afford...so many people Overinsure..and those whole life policies have to be evaluated very carefully or you can fall into the category of people that paid on for many years thinking that they would collect (as they were told) and then after paying in their premiums, the company then said they had to extend the policy premiums (if you did not read the really small print) and either you pay in the NEW increased premiums, (which many cannot afford) or you LOSE your policy...its a sad situation...so buying your policy from a solid company (and KOC is one of them....though Id still only do term) is worth it....
good luck....think about years ahead, and getting different policies for differing amounts and terms are worthwhile for cost effectiveness as well

 

[goodfood4ursoul]

We've had a Foresters policy on DH for 3 years now
at a total cost of $1,560 so far.
($50,000 20 year term life with a 75% cash out terminal illness rider
and the "outlive your policy" return of premium rider)
We balance that against the college scholarships our son has received.
Today DS got another $2,000 scholarship check from Foresters.
What a wonderful company to do business with!

 

[dfchelbay]

As far as reputable....the rating is not what your looking for right? I mean only those that collected rally know how the carrier handled its "claim"...
I think you mean rates...you can shop around...and my only suggestion TERM policies and get them for the longest period you can get and what you can afford...so many people Overinsure..and those whole life policies have to be evaluated very carefully or you can fall into the category of people that paid on for many years thinking that they would collect (as they were told) and then after paying in their premiums, the company then said they had to extend the policy premiums (if you did not read the really small print) and either you pay in the NEW increased premiums, (which many cannot afford) or you LOSE your policy...its a sad situation...so buying your policy from a solid company (and KOC is one of them....though Id still only do term) is worth it....
good luck....think about years ahead, and getting different policies for differing amounts and terms are worthwhile for cost effectiveness as well

I was more looking for names of reputable life insurance companies. I know insurance companies that are reputable for homeowners and auto. We've never shopped around for life tho. We've always been with the same company. I was asking for names of reputable carriers so that I can then look into them.

I thank you all for the information you've provided. I'm still looking around. We have a few more weeks to make a decision. A perfect example of why the Disboard is a valuable information source...I've never heard of Foresters, so I would not have even looked into them. But now I have that info and am looking into them...thanks to you all here.

I'll advise of my experience with the few I've narrowed my search down to, so I can pass along up to date info to you all.

Thanks again.

 

[amcnj]

Consumer Reports recently published their annual report on insurance companies I believe. Not sure if it is still on newstands, but libraries should have it.

 

[jillbur]

We used select quote. They gave us quotes on different companies & then we chose which one we wanted. We went with ING also. If you would like more specifics on our numbers, let me know

 

[jgreco]

WHATEVER you do, do not, I repeat do NOT fill out one of those forms online for insurance quotes. I did that and within 1/2 second of filling out the form my phone started ringing. I got somewhere in the neighborhood of 10-15 calls per day for at least a month straight from 8AM-8PM at night. I still get phone calls 6 months later and the same companies keep calling and won't take me off their list. It is SO annoying. I've contemplated changing my phone number its been that bad.

 

[dfchelbay]

WHATEVER you do, do not, I repeat do NOT fill out one of those forms online for insurance quotes. I did that and within 1/2 second of filling out the form my phone started ringing. I got somewhere in the neighborhood of 10-15 calls per day for at least a month straight from 8AM-8PM at night. I still get phone calls 6 months later and the same companies keep calling and won't take me off their list. It is SO annoying. I've contemplated changing my phone number its been that bad.

No worries there, I never give a real phone number. I give them the old Hollywood 555 number. To get an instant quote, I'll give the correct stats physically, with a fake birth date. I give the correct year, but an actual date a little off the real one. I answer the health questions accurately, they are yes/no. We have an email set up for all the online "junk mail" stuff, so it never bogs down our everyday email. I know I'm not going to get an exact answer/quote anyway. I realize with an instant quote, it's a ballpark dollar amount. It's funny how they even get away with the instant quote. The only health related questions are tobacco user, weight/height, and heart disease. What if I've been ravished with other illness over the years...their little instant quote means nothing when it really comes down to filling out the actual application and it being underwritten. It is, as you said, an information grab on their part. Just wanting your phone number and email.

 

[momof1princess]

we used select quote, and got $350,000 in insurance for DH for $200 per year. i believe the name of the company is banner life. not positive about that, though. i paid it in february, so it's not fresh in my mind. select quote was GREAT - we filled out some paperwork, a nurse came to our home and did a quick physical on DH, and that was it.

 

[MeggerasMa]

Check out the First Catholic Slovak Ladies Association. Good products. Good dividends. Also don't think you need to be any of the above adjectives in the Association name to apply for insurance with them . Personally, single premium life in an amount to cover final expenses with a term policy to cover stuff like outstanding mortgage, etc. is what I find to be practical. Good luck with your search.

 

[patcassidy]

Use an aggregator website with credentials you can trust, like a BBB certification, and sales of life insurance policies only from A- or better rated companies by AM Best (or the S&P) equivalent. Quotes available online for term life insurance are quite cheap if you are in good health for your age, so you should be able to find inexpensive life insurance coverage soon! Good luck!


Pat Cassidy
Disclaimer: I work for AccuQuote and this is my personal opinion.

 

[rainynight]

I have ING. 800k for $240 a year.

Hubbie has Metlife. 800k for around $300 a year. Both are basic term life.