J.R. asks from Bay City, MI on February 28, 2011
C.O. answers from Washington DC on February 28, 2011
Our insurance is USAA - my husband served in the USAF - they cover our home, cars and life. i think they are branching out to health care as well.
MetLife is the other company that houses my life insurance. It was a small policy that was started when i was 10 years old and is now paying for itself.
When you search online for Life Insurance - do NOT go with a company that has not been rated or you don't recognize the name. Make sure you get the appropriate level of coverage for your family.
for example - I am a SAHM - while I don't make a salary - if I died tomorrow - my husband would have to consider child care expenses for 4 more years as well as tutoring expenses for the next 10 years (as I get one on one with my boys and their education). He would also have to consider cleaning services as he won't have time after working full time and then picking up the boys. It's those little details that get you!!
Make sure you have a living will - up to date and ready. Should you get in a tragic car accident - do you want to be kept alive? Do you want to be cremated, buried or body donated to science? what about organ donation? Even at your young age - these things MUST be considered and talked about.
best to you!!
1 mom found this helpful
K.P. answers from New York on February 28, 2011
We purchased ours through our financial consultant, who is the person who manages our retirement funds. She was able to refer us to their life insurance rep and they worked in conjunction to help us "plan" what made sense. We did NOT go through our employers, but did go through our money manager.
Call around and schedule appointments to get quotes. You most likely are looking for "term" life insurance. We use MetLife and have been generally happy with their service- once you have an actual rep and their direct extension.
1 mom found this helpful
A.C. answers from Washington DC on February 28, 2011
There are tons of insurance companies you can purchase life insurance through. A little research on the internet can give you basic prices for different amounts of coverage.
Be aware that someone will probably come to your home/office to get some basic medical and family medical history as well as height, weight, blood pressure and a blood and urine sample.
I know several companies offer decent life insurance for around $30 bucks a month (give or take) for $250,000 (give or take) worth of life insurance. How much you'll need depends on your level of debt as well as your own income levels.
J.M. answers from Boston on February 28, 2011
Northwestern Mutual is a great company.
Whatever you decide to go with, don't just go online and do the cheapest you can find. Work with a financial planner to get the coverage you want for what you can afford. If you don't understand the difference between term and whole, make them explain it to you.
I hope you don't think that I'm talking to you like an idiot. It's just that my 40-year-old husband is a financial planner and was also just diagnosed with cancer. He should be fine, but we're both super glad that we have the coverage that we do and that we understand how it works.
A.R. answers from Boston on February 28, 2011
Not sure if they sell life ins in MI but check out SBLI. We got quotes from a few but went w/ SBLI- 30 yr term. Good Luck!
P.G. answers from Dallas on February 28, 2011
Mass Mutual is also good. If you look for online quotes, you want to find a company that's at least AA or AAA rated - you want them to be around for a LONG time :) If you have any question about insurance planning, click my name - I used to work in the field before I had my son. I don't sell, but I understand how the insurance tools work and can give you a quick overview.
G.T. answers from Modesto on February 28, 2011
never purchase it through your employer, that money is better spent towards your 401k, if you lose your job you lose all that money you invested in their life insurance program.
Most of the major companies have good live insurance plans.
I had Prudential for years, but let it lapse unfortunately, but I was happy with their plan.
T.K. answers from Dallas on February 28, 2011
New York Life and Globe Life are both well respected. You can also go online and get a multi-quote. It runs your info through and gives you the rates for several companies. The monthly rate and length of the term are most important if you are looking at term. The cheaper the better and the longer you lock that rate in the better.
The interest rate is the most important if you are looking at whole life insurance. That determines how much cash value you will grow over time.