Yes, I know it's canoe bait, but I'm looking to pick up some life insurance before I do something dumb and make my wife and kids eat ramen for the rest of their lives, or my wife kicks it and I have to hire a nanny...
Where did you guys get your insurance from? I've read a bunch of guides on What to to buy, but not finding a good place to find out Where to buy from.
Thanks!
My Edward Jones guy. I have direct deposit going to him, as well as my old 401k rollovers and my wife has her Roth with him. He also advises me on the best way to use my company 401k. Once a year, they pay my life insurance bill from the savings account that they hold for me.
If I won the lottory, I'd hire this guy to manage my millions.
I read the thread title as 'where do you get your cats life insurance from?' at first.
I have two policies, one from American General, the other from State Farm. I got the first one when our first kid was born, and at the time I had an insurance agent/broker guy who handled policies for lots of different companies, and they had the best rate. The State Farm one was after our second kid was born, and by that point I'd moved all of the rest of my policies to State Farm, so they got the second term life one as well.
Lancer007 wrote: I read the thread title as 'where do you get your cats life insurance from?' at first.
Me too. I've got some term life insurance through USAA.
no help here … I don't carry life ins.
no reason… no one to "benefit" from it 
wbjones wrote: no help here … I don't carry life ins. no reason… no one to "benefit" from it
My brother did this. Then he died at age 40. Terrible mess to sort thru. Luckily we found a policy from a union employer that paid some. But not all.
Through my employer, for free.
Part of my benefits package is a life insurance policy worth 2x my yearly salary. That's more than enough to pay off the house and "final expenses" should something happen to me, so the wife will would be taken care of.
Otherwise I'd purchase more through work, or an outside company.
Kramer wrote:wbjones wrote: no help here … I don't carry life ins. no reason… no one to "benefit" from itMy brother did this. Then he died at age 40. Terrible mess to sort thru. Luckily we found a policy from a union employer that paid some. But not all.
no problems here… those that will inherit can take care of my remains … I've suggested cremation and service at the state veterans cemetery … hard to get any less expensive …
no one will be put in a bad place because of my going 
We have some coverage on me through my wife's benefits. I supplement that with a term policy from State Farm, because my employer doesn't offer insurance.
The downside to buying insurance through work is that it's only good for as long as you work for that employer, and if you switch employers then it may not be available from the new one. Also, your health may change to the point that they're no longer willing to sell you insurance at a new employer. A private term life policy, OTOH, you can keep for the length of the term so long as you continue to pay the premiums.
And yeah, your need for term life depends totally on the financial impact on your dependents if you were to die.
that was the point that I failed to make in answer to Kramer
no dependents … siblings will inherit, but no one to be "left holding the bag"
Thanks for the thoughts.. I got a (what I believe to be decent) quote from a broker today... I just have to hear how much participating in motor sports is going to affect my quote.
In my case, I have a wife with two kids and we're about a year and a half into a new mortgage.. I need a lot of coverage :)
ButI'm not insuring my cat :)
It's very hard to collect life insurance on a cat, due to the nine lives.
WonkoTheSane wrote: Thanks for the thoughts.. I got a (what I believe to be decent) quote from a broker today... I just have to hear how much participating in motor sports is going to affect my quote.
My experience was that they didn't care much about motorsports, at least not at the level of autox and occasional track days. If you're a licensed road racer that might be different.
Skydiving and scuba diving, OTOH have a big impact.
codrus wrote: The downside to buying insurance through work is that it's only good for as long as you work for that employer, and if you switch employers then it may not be available from the new one. Also, your health may change to the point that they're no longer willing to sell you insurance at a new employer. A private term life policy, OTOH, you can keep for the length of the term so long as you continue to pay the premiums. And yeah, your need for term life depends totally on the financial impact on your dependents if you were to die.
Maybe it's an OK thing, all 4 jobs I've had since college (and others I've applied for) at least 2x salary life insurance policy.
I have none--my assets would cover the funeral costs easily, and I have 0 debt.
As I am planning on getting married next fall, starting next January, I'll have whatever my company offers. Probably is pretty good, and if it is not, I'll research it and get something that is 1-2x my salary.
Zander Insurance, no one else could come close. Term Life is the only product worth purchasing (and yes, I listen to Dave Ramsey).
I've got a whole life originally from NCOA and now seperated straight to the underwriter and a expanded policy from work. Don't plan on leaving the job anytime soon, will retire from it. As long as we have a government and military I'll have a job. If that goes away......well, life insurance will be the least of the worries.
I got mine from Nationwide many years ago.
At the time they were all anti-performance driving or drivers.
Now look.
I used SelectQuote. Guaranteed renewable term life policy for wife and me. We bought Ten x salary. Kids to raise, loss of income won't have to modify lifestyle so long as we pay premiums. Employer throws in 1x salary as a benefit, too.
As a former Ramsey listener, I'm a believer that anything but term life is badly "invested".
Those who have 1-2x annual salary coverage without other assets should think about how long that will last a surviving spouse and/or kids...
Ddavidv - I'm going to look into Zander, thanks!
Yeah, I'm only looking term for now, and due to our debt vs. future earnings, I'm going for ~15x salary, I want to completely pay off all possible debt and give the same standard of living to my wife and kids.
What about going for a shorter term? Hopefully in well less than 10 years, that debt to earnings ratio will look wwwwwaaayyyy better, hell in 3 years it will :)
Would it be wise to go with a shorter term, say 10 years instead of 20, and redo it with a lower payout then, or will the fact that bumps me out of 30s into 40s make it nearly the same cost with less payout anyway?
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