Do you have LIFE INSURANCE???

[Mattemma]

Tried Zander site.Smoking doubles the cost. I told him to quit and he says he will get fatter if he does.Ugh.We would have to wait a year from quitting time to get a lower rate.

 

[SillyChicken]

Yes, my DH and I both have a policy that doubles if we or one of us get killed in an accident.

I also have a couple policies through work, so my DH will be set up way better than I will be! lol!

 

[redhen]

Whats the difference between whole life ins and term ins??

 

[redhen]

My concern is paying into a company for years and somehow getting jipped when the time comes to collect...
Anyone know how to prevent that from happening??
What are the REALLY trustworthy companies that will be around when we die?? (hopefully not until 50 years from now..

)

 

[Livinzoo]

 

[Stephanie739]

Quote:
Term is temporary insurance for a set "term" 10, 15, 30 years...once the term expires, the coverage ends and if the insured is still living no benefits paid (with some exceptions, listed below*) Obtaining a new policy (upon expiration) is sometimes very expensive and sometimes even impossible, so this is why convertible to permanent or guaranteed renewal term policies are good.

Whole Life is permanent insurance. This policy will pay either a death benefit or the benefit upon maturity usually when the insured is close to 100 years old, however, the living cash value continues to grow as the insured ages, so the customer can cash it in or borrow against the death benefit at anytime.

There is a combination of the two policies, called universal life. This is often an easier to afford permanent policy choice but the cash value will usually decrease after hitting a prime towards the middle of the policy.

The purpose in permanent policies is to lock in rates and insurability. As you age and your health declines, coverage becomes more expensive.


*You can sometimes purchase a benefit on a term policy called "return of premium" which will return the premium paid at the end of the term if the insured is living. The endorsement close to doubles the premium.

 

[Stephanie739]

Quote:
I'm an agent and I have worries about payouts too, but mostly due to financial ability to pay. Most insurance companies are very ethical, and I am saying this with 100% sincerity. There are life insurance companies that have been around for 100+ years (for example, Prudential 135 years) Chances are, you will not be ripped off by a 100 year old company, but younger companies can still be a good option. Financial stability should be addressed when choosing a company. When researching companies, I check here for financial stability http://www.ambest.com/ B rated and up is a good indicator that the money will be available to pay the claim when the time comes, imo. I just checked on my company again, and it is an A+. I had not checked since I bought it, but it is a good idea to check every once in awhile. Hope this helps!

 

[Mahonri]

at present, I'm probably worth much more dead than alive to DW.

$1,550,000.oo... if I die

Interestingly, this morning in my pre-op tests to see if I get knee surgery in two weeks, my EKG came back highly suspect and abnormal.

no normal sinus rhythm but I feel fine, go hiking regularly etc...

I've always said, I'd rather go quickly than to die of something like cancer.

Do you think there are chickens in heaven?

 

[Stephanie739]

Quote:
Do you want to be added to a prayer list? I hope you are ok!

 

[redhen]

Quote:
Term is temporary insurance for a set "term" 10, 15, 30 years...once the term expires, the coverage ends and if the insured is still living no benefits paid (with some exceptions, listed below*) Obtaining a new policy (upon expiration) is sometimes very expensive and sometimes even impossible, so this is why convertible to permanent or guaranteed renewal term policies are good.

Whole Life is permanent insurance. This policy will pay either a death benefit or the benefit upon maturity usually when the insured is close to 100 years old, however, the living cash value continues to grow as the insured ages, so the customer can cash it in or borrow against the death benefit at anytime.

There is a combination of the two policies, called universal life. This is often an easier to afford permanent policy choice but the cash value will usually decrease after hitting a prime towards the middle of the policy.

The purpose in permanent policies is to lock in rates and insurability. As you age and your health declines, coverage becomes more expensive.


*You can sometimes purchase a benefit on a term policy called "return of premium" which will return the premium paid at the end of the term if the insured is living. The endorsement close to doubles the premium.

Thanks SO much for the information! Which would YOU choose??

And what company?? I live in MASS...
Its all so confusing!!!..

I'd only need a policy on my husband...
He's 40... a bit overweight, but not obese. Non-smoker. Normal blood pressure. No real medical problems...
Hes a CDL truck driver and sheet metal journeyman..(in case they need to know occupation..)

What i am looking for is security if(god forbid) he passes. Maybe enough to pay off the house.. etc.. maybe like $200.000 ?

Thanks for the help! I have been brooding over this for a looong time! And i NEED to get it done ASAP...
I was going to go to my car ins company... I think they use Safety insurance(not sure who they use for life ins policies though..)... but they're small towm podunk operation... i just worry about them being around years to come.