Life Insurance - Chicago,IL

My husband and I both have return on premium life insurance policies. His is with AIG and mine with Country Companies. We went with different companies only becuase I was pregnant when he took his out and I wouldn't qualify for the best rate because of my weight. We both are healthy so we qualified for the best rates so we have $500,000 policies and pay $60-70 a month. At the end of the 20 yr term you get back all of the money you paid in approx 15,000. It is also another way to save up a little money for the future. I did online quotes but my local Country Companies agent gave me just as good of a deal so I went with a local agent

I agree with TERM insurance......dont' let them talk you into a Whole Life policy.......They make more money on those!!! I just heard about a term policy that at the end they give you back all of your money!! They've made the interest on it for all those years....but at least you get all your invested money back........ I think it was Farmers Insurance....or Indiana Farm Bureau...... but really do some research...... We made the mistake of getting a whole life policy when the kids were little and after paying for something like 10 years it was only worth about a grand!! If I had it to do over again I'd just put the money in the bank!!! Also check with your mortgage company they have insurance for your house that will pay it off if something happens........but I think it's very expensive too.

we compared all the dif types and companies and went with state farm believe it or not.

Call MetLife. They can help you pick the type and amount of coverage. They're extremely helpful and their rates are fantastic. They're the #1 provider of life insurance in the world.

I went with SelectQuote as recommended by Susie Orman in one of her specials. SelectQuote is a brokerage firm that finds the best rate possible through an array of insurance companies.

I agree with everyone that recommended Term - this is the most affordable and practical form of insurance.

I am 35, just signed up for 30 year Term at $500K; if I only want to pay min. amount, it would have cost me $33/ mo with Prudential; however, I upped my plan to where if nothing happens to me in 30 years, I have an option to take back all the cash I invested (no interest; comes to be about $19K), or I can let Prudential keep it, and then my life insurance never expires - my children will be covered upon my death. For this plan I pay only $53/ month.

If you are interested in learning more, I recommend you contact Paula Cook with SelectQuote at (800) 758-0142.

My husband was a financial advisor for a few years and is now a financial wholesaler selling insurance and annuities etc. If you want any help at all feel free to e-mail me personally and I am sure my husband could help you. He could offer a free sit down meeting to help you understand more about your options.

Go for plain Term insurance policy.. They provide best coverage for the min Amount. If you have any additional money invest it sepaertely into Mutual Finds. Insurance is not an investment vehicle. Its like having investment linked to your Health or auto insurance.

Look for yourself a plan. I can recommend one that is vanilla TERM.

V.

M.,
My husband and I just signed up for life insurance. We are both in our early 30's and each got $1 mil of coverage and total pay $96 per month. It is term insurance and ends when each turn 80. You have to pick what is best for you, whether it be term, cash value, etc... Our advisor is a friend of ours with Northwestern Mutual. If you would like his name, send me a messagel. He won't oversell you something you don't need, but will give you the options of what is available.

Hi M.,
My husband has been in the business for 25 years now. He is with MetLife (noticed that one other lady stated that MetLife is #1 in life insurance). If you would like to get in touch with him, just send me a line.
Good luck :)

We have term insurance through Primerica because someone we knew was a salesperson at the time. Later, we got a comparison quote from State Farm and I have to give the agent credit because she recommended we keep our original policies. At the time we bought, the agent walked through scenarios with us, asked us what we wanted to do if the other one died (want to keep the house, were we going to have to pay for children's college, that type of thing.) That's how they came up with a dollar amount based on the income we each currently brought in (how much $ would you need in order to replace your spouse's income for x years if they died.)

One piece of advice I would give is to go for a longer time period. Our policies end when my older son is 21, I think, which was stupid - we should have gone for longer because we also have a younger child now. It's something we should probably look into, but we also have extra term insurance through my employer. All together, I think it's about $600,000 on each of us.

Oh, it's about $80 or $90 a month.