Can someone tell me which is the best Life Insurance?
Which company? What do i need to d?
And what you recomend to me? What's best for me?
2007-03-09 03:51:04 · 8 answers · asked by sexymama 1 in Business & Finance ➔ Insurance
There is no best life insurance company. Someone can say their company is the best, but I don't know why they would say that. Not like they going to go to you and do business with you.
My advice to you, to make things simple, go check the life insurance companies in your area. You may want to read the different kinds of life insurance out there before meeting an agent. Your state's department of banking and insurance can provide you a pamphlet called "Life Insurance Buyer's Guide" to give you a general idea of the difference between cash value life insurance vs term insurance, which you can probably obtain at the library.
When you choose a life insurance company and the type of life product, you will have 4 different ways to pay the premium. You may it monthly, quarterly (every 3 months), semi-annually (every 6 months), or yearly. If you choose shorter payment option such as monthly, it will cost slighltly more than if you were to pay the premium once a year. Why? Each time a check is process, there is a processing fee. Some people think if you divide the annual amount by 12, it will equal as same as the annual payment. It doesn't, especially when you include the price of postage into it too.
What is the best rate for you? Rate is determined by your age, sex, height, weight, smoker/non-smoker, HIV testing, and type of job you have. Depending on how much coverage you get, the insurance company may take it a step further and do a medical exam on you. Then your rate will be determined. The best rate will be preferred, followed by non-smoker or non-tobacco user rate, followed by the worst rates which is Smoker or Tobacco-user.
2007-03-09 05:38:36 · answer #1 · answered by Anonymous · 4⤊ 3⤋
The best insurance is Whole Life. It is true that it is about 10 times more expensive than Term Insurance in the beginning. However, after you own the policy for a while it has a negative cost and the dividends will pay the premium for you. If you can't afford Whole Life in the beginning, there's nothing wrong with getting term for a few years - no longer than 3 or 4 - but then convert it to Whole Life.
Whole Life is a very powerful tool and the foundation of any solid financial strategy. The benefits you get over Term are tremendous...disability benefits, medical benefits, liability protection, basic estate planning, and cash value. But the real reason you should buy Whole Life is because you can effectively spend the death benefit while you're alive during retirement (with the proper strategy). It can make non-income producing assets produce income and increase the power of your overall financial situation in many many ways. Whole Life gives you flexibility that no other product can match.
Most people - as well as many media publications - do not understand insurance and how it really works, thus you get very misguided and incorrect information.
When you cancel the Term policy you will have lost the premiums, lost the earnings ON the premiums, and ultimately you will have lost the death benefit. Insurance companies LOVE Term insurance because they pay out less than 1% of all policies. They make TONS of money off of it. And in the end, you get nothing for your money.
Buy Whole Life.
2007-03-10 11:44:06 · answer #2 · answered by The Economist 1 · 1⤊ 3⤋
The only difference in life insurance companies is the premium.
Search life insurance and request quotes from one of the sites and wait to hear from the agents.
Term insurance is the best buy for covering your mortgage and providing money for your family.
Permanent ins. is for final expense and leaving a legacy. The proceeds are received tax free.
I recommend term for however long you need it and a small perm plan to take you to the end. You never know how much will be left when you die of old age. At least you will know that your final expenses aren't a drain on your family.
2007-03-09 10:13:06 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I recommend that you try this internet site where you can compare rates from different companies: http://cheapinsurancequotes1.info/index.html?src=2YAryBayv36
RE :Life Insurance Question?...Please Help!?
Can someone tell me which is the best Life Insurance?
Which company? What do i need to d?
And what you recomend to me? What's best for me?
Follow 7 answers
2016-09-10 22:16:33 · answer #4 · answered by Rickert 6 · 0⤊ 0⤋
Anyone that tells you to only buy term insurance or only buy whole life insurance does not know what they are talking about. Thats like a realtor telling their customer to only buy condos. There are many types of life insurance out there and usually a combination of two will most effectively cover your financial needs.
Meet with a local life insurance professional - http://www.insuremylife.org
They will help you determine how much coverage you really need and the best way to obtain it.
2007-03-09 04:02:27 · answer #5 · answered by Anonymous · 0⤊ 1⤋
No one here, including myself, is qualified to answer these questions. Why? Because we don't know you or anything about your situation. There is no such thing as the "best" life insurance or company. Every product is "best" for a particular individual in a particular situation. You need a thorough analysis from a qualified advisor. Most can do this at no cost.
2007-03-09 04:00:53 · answer #6 · answered by Rob D 5 · 0⤊ 1⤋
You may want to try a website that compares multiple companies at once to get you the best price. I am paying less than ½ after I did.
Go to: http://www.insureme.com/landing.aspx?Refby=616164&Type=life
Take care,
Casey
2007-03-12 07:37:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋
There isn't one "best", just like there isn't one "best" fruit.
You need to make a list of what you want it to do for you, then sit down with a local, independent agent, who can match a variety of companies to meet your pre-chosen goals.
2007-03-09 03:57:25 · answer #8 · answered by Anonymous 7 · 1⤊ 0⤋