Comments on: Do You Need Term Life Insurance?

By: » The Best Term Life Insurance For My Situation

» The Best Term Life Insurance For My Situation — Fri, 26 Feb 2010 16:56:23 +0000

[...] is a debate surrounding the topic of when people should get life insurance. Some people say it isn’t a huge necessity to get life insurance until you head down the [...]

By: annvandrarhem.com

annvandrarhem.com — Sat, 06 Feb 2010 15:54:54 +0000

Choose Term Insurance Instead of Whole Life Insurance…

Most people are familiar with “whole” life insurance. This is the kind of insurance where you will get back a certain amount of money when it “matures” at the end of the insured period. What you may not know is that there is an…

By: What Type of Life Insurance Should You Buy

What Type of Life Insurance Should You Buy — Fri, 18 Dec 2009 05:10:04 +0000

[...] life insurance was not a priority of mine. It was not until I got married that I bought my first term life insurance policy. I thought the amount was fine until we had our first child. At that time, I almost doubled the [...]

By: How Much Term Life Insurance Do You Need to Buy?

How Much Term Life Insurance Do You Need to Buy? — Tue, 13 Oct 2009 06:12:49 +0000

[...] determine how much term life insurance you need, you need to perform a needs analysis. Here’s a step by step guide to calculate how much [...]

By: Denise

Denise — Thu, 16 Apr 2009 09:22:02 +0000

There are no doubt a number of factors to keep in mind when choosing a life insurance policy. When faced with the many options available it is easy to get confused and lose sight of the bigger picture. The main reason behind taking out a life insurance policy is to replace the income of the insurer after his or her death. A dependent spouse, young children and even siblings who rely on you financially will not suffer after your demise with the correct insurance plan. Life insurance benefits can be used to cover burial and funeral expenses, debt and medical bills and estate taxes. Your beneficiaries can benefit from the inheritance of your life insurance policy benefits. Insurances such as whole life and universal life insurance with a cash value component can even be used as a mode of savings as this element can be withdrawn or borrowed on request. Insurance here acts as an enforced savings plan and is imperative for anyone who recognizes the importance of planning for the future.

Denise at AccuQuote

By: TStrump

TStrump — Sun, 15 Mar 2009 05:28:01 +0000

While I don’t have any people that really depend on my and my accounts are in order, I still have term insurance.
I think if something ever happened to me, I like the idea of giving my remaining family members a ‘gift’ to make their lives easier.

By: PT

PT — Thu, 12 Mar 2009 05:55:37 +0000

More places to get quotes (recommended by Liz Weston):

Term4Sale.com
Insure.com
Ameritas.com (Direct)

By: PT

PT — Thu, 12 Mar 2009 05:35:23 +0000

@Mr Plasectomy – I did a roundup of opinions on life insurance a couple of weeks ago (http://ptmoney.com/2009/02/27/life-insurance-when-and-where-to-get-it/). Some of the places they mentioned they purchased insurance were:

AccuQuote.com
SelectQuote
Netquote.com
USAA
Chastainotis.com
InsureMe.com
Prudential
State Farm
AIG
Farmers
AllState

I would also add:

Your Employer
Your Professional Organizations

As for the differentiator, I don’t know. I’m assuming some of the quotes may have you coming in as a superman, while others actually factored in your health. Some low ball, while others take the high road.

I suspect a quick email to the folks at Zander might clear it up.

By: PT

PT — Thu, 12 Mar 2009 05:30:07 +0000

@Weakonomist – I would hesitate to say that they “always” do this. Insurance products, like any other financial product can be used for both positive and negative means. I definitely get your point though about the sales spin and the commissions.

Whole has it’s place for some people though. It’s there b/c consumers demanded it.

The reference to investment doesn’t offend me. I can see how some people might be offended though.

By: Mr Plasectomy

Mr Plasectomy — Wed, 11 Mar 2009 19:34:23 +0000

We have three small children and my wife is a stay at home mom. Term life insurance is extremely important to us as she is spending these years raising our children and not working. It is difficult enough living on one income and I cannot imagine leaving my family with nothing if something were to happen. That said we still do not have it.

When shopping for insurance who do you know to go with with all the different providers out there? Running a quick quote at zander insurance provides a comprehensive list of companies with rates ranging from $400-1200 a year for the same coverage? What is the differentiator in price?