Help ppl...i'm trying to get a life insurance.....alstate offer me $26 for 30yrs term OR?

Question

universal life for $59.

what do you think should i get?

Answer 1

Forget Universal Life. Good for your agent's income but not a good deal for you. If you want an investment then buy some mutual funds from Vanguard, Fidelity or T.Rowe Price.

How much insurance you need depends on what you are trying to do. e.g. Are you trying to provide money for your spouse and children because they won't have your income? So the insurance will cover some living expenses and maybe college?

Figure out the amount and then buy guaranteed renewable term until your youngest child is 22 or until you are 60.

Most term is very cheap and getting cheaper since life expectancy is getting longer. Most major insurance companies Prudential, AXA, Metropolitan etc offer good rates and are companies that will be around in 30 years if there is a claim.

Answer 2

It really depends on your age, what your need for life insurance is, what your life will be like in 30 years and your budget.  When I was 25-30 years old, being 55-60 years old seemed unreal.  Now it is a reality and, guess what, I still need life insurance.  Probably more now than then.  Life has thrown me some curves and if something were to happen to me, my family would need the coverage as much now as they did then--maybe more.  I am glad that I chose the UL.

Answer 3

How old are you? That makes a difference. Do you smoke?

Answer 4

What are the benefits paid for each?  You don't say.