Life Insurance.........?

Question

I want to get a life insurance policy and would like to know more about what type to get. Just want a policy that will pay out if I die (car accident,cancer,illness,etc etc) and not really one that has cash value cause I think those are more expensive. Also any "good" companys that I can get a rate from? Thanks!

Answer 1

If you just want life insurance with no cash value then term life insurance is the option you are looking for.

Also, a good place to check is...

http://www.knowledged.info/go.php?link=i...

Hope it all works out

Answer 2

PRIMERICA IS THE WAY TO GO...

they sell one type of life policy and thats the one your looking for....LEVEL TERM.

All those other jokers are gonna try to sell you on how good and benefitial cash value is and Primerica educates middle market families on getting out of debt....

Answer 3

What you described is term insurance.  There are many good companies out there.  I would find an independent insurance broker and look at the top 5 in price.  Then pick the best company.

(I am not saying look at price alone, but there is enough competition that finding a well rated company in the top 5 is not hard to do.)

Answer 4

TRY PRIMERICA ONLY SELL TERM AND USE THE THEORY OF DECREASING RESPONSIBILITY

Answer 5

Wow this question brings it out of people. Like the one who says that buy term and invest the difference is flawed. Get the new book from Ric Edelman. Look up the chapter where he talks about how "good" whole life and universal/variable really are.

BTID is best when the investing is done automatically from a checking account. Why, you may ask? Because if left to our own to invest we will, invariable, find ways to say no can't do it this month maybe next. Read David Bach AUTOMATIC MILLIONAIRE. He tells you, that to become wealthy you must have it done automatically AND you must pay yourself first. BTID backs this up.

Primerica is one of the best insurance companies out on the market today. I think so because of what is offered in their policies- ONE policy to cover the whole people in the household, Level term ONLY- premiums will not go up for the length of the term only if you extend coverage, then it is based on current age at renewal, oh and it is GUARANTEED with no medical questions, should you get a child policy it covers the present children and ALL future children, and you get if you want a 10% benefit increase without medical qualification for first ten years.

Show me another company that does the same thing and costs a little bit less and I might think of changing.

Answer 6

You are looking for TERM life insurance.

If you are healthy and a non-smoker, you should have no problem finding a policy.  I have mine through Metropolitan Life, and I have had it for many years.

Answer 7

Why not let an insurance broker do the shopping for you? A broker works with several companies and can get you the best coverage at the best price. To find a broker in your area, log onto a website such as http://www.lifeinsurancewiz.com and fill out a form requesting a free quote. Good luck!

Answer 8

buy Primerica only the most honest company out there.

Answer 9

Here's an interesting thought.  It is even possible to purchase a certain type of permanent policy where "Cash accumulation would be negligible; so in essence you have 'permanent term insurance.'"  This sounds like an option to consider - along with term products - because you want a policy that will just pay out if you die.

See the article (URL is below) for more advice.

Answer 10

In my opinion the theory of decreasing responsibility (buy term and invest the rest) is a seriously flawed theory.  It is a strategy that was designed by investment companies becuase people were withdrawing investments to buy life insurance and those investment companies were losing profits.  Yes, some responibilities will go away, not all of them...The cost of dying (funeral, casket, taxes, probate fees, administration fees) will NEVER go away.  Term insurance will expire at some point or another, so it depends on how long the coverage is needed for.

If you are only concerned with a temprary need (IE:  making sure the kids are taken care of, or the debts are paid, etc) term is the way to go.  If you are looking for something to cover the costs of dying, look at a whole life product.  Whole life is more expensive, but not nearly as expensive as paying into a product that won't pay out (If you live past the expiry date on the policy) or becomes ridiculously expensive in your elderly years (term costs rise each time you renew).

I don't know if I could recommend a company that is in your local area, but seek the advice of a liscensed proffessional that can provide you with advice on both whole life and term insurance to make sure you get what you need for your personal situation.  If you can find one that is a broker, even better...that way you get the best product instead of the only thing that is available to a paid salesperson of a company.  I personally recommend Customplan Financial if there is one in your area.

FOLLOW UP:  Feb. 13 - If Whole life insurance is such a bad thing why is it that BTID has not made whole life insurance an obsolete product?  Term is good and has it purpose, but should not be preached as the one and only solution!  If your insurance need is longer than 20 years, the cost of Term will be very expensive when you renew.  For ever study that is done preaching BTID, there is another one that proves it's not perfect...dig a little in your research instead of just asking your local Primerica agent that is tied selling and only trained in only one strategy.  BTID is a good strategey for a disiplined investor that knows what they are doing.  Not saying BTID or Primerica are all bad, but look at it critically and understand both...