Life Insurance

[vettechick99]

I work for myself and have recently decided to get some life insurance. I'm looking at BCBS and it's about $10 a month for $50K. Does anyone have their plans or can you recommend your company and plan?

Thanks!!

 

[tbelfonti]

We have Jackson National Life Insurance. We each have a policy - The policy is either $500K each or $250K each - I'm not positive because I don't have the paperwork in front of me. But I do know we pay $33.97 / month.

 

[disneysteve]

I work for myself and have recently decided to get some life insurance. I'm looking at BCBS and it's about $10 a month for $50K. Does anyone have their plans or can you recommend your company and plan?

Thanks!!

Go to intelliquote.com and see what they offer.

 

[vettechick99]

Thanks for the link. I went there and $500K for 20 years is $21 a month from American General. They are ranked A+ by AM Best, too.

But how do I know how long of a plan to get? If I get a 20-year plan and then want to up my insurance amount, is it easy to change or am I stuck with that coverage amount?

PS: I'm 29, married without kids although we do plan on having some in the near future. I'm also in excellent health but I guess you never know when you'll die, right?

 

[budbeerlady]

I have State Farm, Nonsmoking female under 30for me (had to get checked out for cholestoral, drugs, blood pressure) for 100k is costing me $9.75 a month for 20 years. Shop around, it should be cheap for your age group if you dont smoke. I just wanted enough to pay off the house if something should happen.

 

[Chicago526]

I got mine from JC Penney (yup, the department store) and I have $50,000 for $8 a month. I got the policy when I was 20 and wanted to make sure that if something happend, my parents wouldn't have to pay a ton of money for my funeral.

Now that I'm getting married, I want to look into a policy for both of us that will cover our family should something happen. The only problem is that DFi is Type 2 diabetic and has a hazardous job, I'm hoping that a large ($1 million) policy is A) available and B) affordable.

Also, don't forget that statisticly speaking, your more likely to be disabled than die at a young age, so look into disability insurance. Heaven forbid you survive a truck hitting you to find out you're paralized and can never work again. Between medical bills and supportive care, you could really be up a creek $$$ wise without disability insurance.

Well, this is a happy thread!

 

[NotTooGoofy]

We have Northwestern Mutual for life insurance and pay about $8/month per $100k of term life insurance to age 75 with increasing premiums. I'm a male aged 39, so I'm bracing for a jump in premium next year.

 

[Colinsmom]

I'd suggest a minimum of 30 year term. If you don't have kids yet, 20 year term is unlikely to cover you until your future children are out of college (no longer dependent on you).

And buy as much as you need NOW. It is much cheaper than if you wait until you are older (and possibly have health issues), and if you want more insurance later on, you have to buy a new policy (at then-current rates). In other words, you are not stuck with that coverage amount, but must apply for a new policy in order to increase your coverage.

As a side note, we've been very happy with Northwestern Mutual for DH, who is a cancer survivor (skip Nationwide - they were a pain). I have First Colony, the best rate we found for a healthy 32 year old female nonsmoker.

 

[indigoxtreme]

As someone who has worked in the industry for 30 years (no I don't sell) when you are looking into the lower cost term companies, please be sure of their way of paying for an act of terror or war. Most of these companies will not pay for an act of war and many tried to get out of paying for the 911 claims. Also be sure to get a company who writes in all 50 states (which would include New York. NY has some of the most stringent insurance laws around. If they will write a policy there and if they will pay for an act of war then go with the low cost term company for a 30 year level plan. If you want something to build on also buy a small permanent policy with A Guaranteed Issue Rider. This will allow you to purchase a certain amount of insurance at certain ages and or events in your life (marriage, birth adoption of child etc) and you do not have to prove insurability. Also some companies will allow a term conversion into permanent insurance for amounts without any insurability proof at the same class you were issued. Need more info just PM me and I will try to help. Again I am not an agent and I have worked for a few different companies over my years.

 

[shelly3girls]

We used reliaquote.com and were very pleased. We were able to compare many different policies and companies. The salesman I dealt with was very helpful and informed.