Life insurance shopping
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Anonymous
| Never bought or shopped for life insurance but now that I have kids, thinking I should look into it. Where do I look? What companies are reputable? Should I use a broker? |
Anonymous
| Make sure to do term life only. |
Anonymous
| If you do guaranteed level term it is fairly commoditized. Sometimes a broker will know if if you can get a slightly better health rating at one company vs another (some might care more about a parent’s cancer, others might care more about being slightly overweight). No reason not to use a broker really as long as they aren’t pressuring you to buy too much or the wrong product. |
Anonymous
| Search on Bogleheads.org for specific companies if posters don't have them here. I think my DH has Genworth, but not positive. They do a full physical to determine if you qualify and what your rate will be. |
Anonymous
|
Buy term life ( 30 year policy is good enough) and if you qualify for roth, dump whatever money they were asking you to put in whole/universal life in there in an S&P fund.
Stock market beats whole/universal. |
Anonymous
Whats that? And why? |
Anonymous
It’s an insurance policy that provides a death benefit only for a specified number of years, e g 10/20/30. This is the most cost efficient way to get what most people need - the peace of mind that their dependents will be provided for in case of unfortunate event. You know exactly how much you will be paying in premiums over that specified term. |
Anonymous
+1. Never ever whole life. |
Anonymous
| We bought a few term policies from Ladder Life a few years ago in our early/mid 40s. The policies were affordable and we appreciate that they have never tried to upsell us. |
Anonymous
|
You can use this search tool to get an idea of what you’ll need to pay for a given level of coverage from various insurers. Then either contact the insurers directly or hire a broker to shop around for a policy for you.
https://www.term4sale.com/ |
Anonymous
I would use a throwaway email for this though |