Life Insurance - Annandale,VA

Check out Zander insurance. www.zanderinsurance.com. They work with lots of companies and will shop around for the best deal. I am 34 and have a 20 year term policy for 400,000.00 and my yearly premium is 192.00. My husband has an 850,000.00 20 year policy for 1000.00 per year. He is 39 years old.

Don't get whole life or universal life. These are the worst financial products on the market. They are a waste of money. Never, ever mix insurance with savings or investing.

Term insurance is just for a certain agreed upon - "term" or period of time. Whole life insurance lasts - your whole life.
Everyone that has it at work has term. Term is commonly sold to parents of young children or people with a lot of debt. It's the most death benefit for the least money. It's a good thing when you don't have a ton of money to sink into a life policy. But then it leaves you in this position.
DId they give you a third option of converting the existing policy to a whole life policy? You may be able to convert term into whole life with no underwriting or exam. Whole life is going to be more expensive and based on your current age rather than at the age you 1st got your policy. If that's not affordable, get another term policy, but get 20 yr term. It's not usually much more if anything. Be sure and add your kids on as additional insured riders. You can get a drop of coverage for them for very little money.

I bought a 30 year term policy when I was 41. It costs me $95 a month for a $500,000 policy. Look into getting a 20 or 30 year term policy and call around for the best deal. They'll have to come to your house for another health exam. The way I figured it, you want coverage until your kids are adults and can make their own money.

My husband, son and I have a $500K with Northwestern Mutual. I am not sure of the length of term, but we only pay around $50 a month. My good friend set it up so I am not sure if he was able to get us a better price or what, but check their rates out. It may be better fitting for your family.

You should have gone with 20, 30 or 40 year level term--depending on how many years until your retirement age. See what's less, their new rate or re-applying for new policies.
The guideline to replace a lost income is basically 10x your yearly salary each, the thought being that when invested wisely, the life insurance will then replace the lost salary of you or your spouse.
Zander Insurance can get you a quote online.

Hi! My husband and I just went through the same thing when our son was born, we bought 30 year terms, $1MM for him ($63/mo) and $500K for me ($25/mo). I went to one of those insurance-quote websites where you put in what you're looking for and you get quotes from many providers (only 1 person calls you though, from the website). A good place to start is www.kiplinger.com- lots of free tools like how much life insurance do you need and recommendations of websites to go to. That's where I started for advice, and it was all quick and easy (except for the medical exam where they ask you 10,000 questions).

Dave Ramsey recommends Zander insurance. My husband got a 900,000 dollar policy for about $46 a month. We've been very happy with them.