What Kind of Life Insurance Is Good to Have?

Suzi Orman and several other financial experts suggest a term life policy. It is low cost if you start it while you are younger (20's - 30's) and should be for an amount that could pay off your home, vehicles and all you bills should one or the other spouse die for some reason. If you get a policy through the same company you have your home or car insurance through they often give a discount. Most life insurance offered through your job only covers your salary for one year. You need much more than that.

I have Thrivent Financial. They have really nice people that will help you with any needs you would have. Anywhere from life insurance to setting up a college fund.

For what is worth buy term and term only, because any other types of insurances like whole life or Universal policies are too expensive and even though they have a saving portion on them you never get the face amount and the cash value. You get one not the other and if you pass away the company keeps the cash value. I know this because I have analysed a lot policies and I only sell term life insurance and then I invest the difference that it will take to buy whole life or universal into mutual funds for my clients. I can analyse your situation one on one in my office or your kitchen table. If you interested let me know! -Y.

I am not sure -but weirdly I was just talking about this -sorry I can help -I am really responding so I can see what others said --take care and thanks for asking what was on my mind.

Hi, A. I work with a great company It's been around for 160 years. New York Life I will be more than happy to sit with you and your husband. Term insurance is the least expensive way to go. But for your child it would be great to get a whole life policy that would give you cash value. You can email me at ____@____.com

My husband works for a great company that will sit down with you and assess your needs and they don't charge anything for the consult and you don't pay any commission fees. If you're interested e-mail me at ____@____.com

My husband and I both have life insurance. In addition to my husband's life insurance at work we both have term life insurance policies. Term insurance is less expensive than whole life because it insures you only during the years you have the "need" for it. ie. dependents, larger balance on your mortgage etc. You are to assume as the years pass you will have less debt, more assets to cover expenses later in life thus no need to buy a whole life policy. Some people do use whole life policies as a savings plan but we found we can get more by contributing more to our 401k's or IRA's. When our oldest daughter (now 5) was one we bought 20 year term policies. We asked friends and family for a referal to an agent and ended up using a independent agent who can "shop" different companies and found us the best rate. He also helped us determine how much coverage we needed.

Hope that helps. It is confusing and not really a very fun topic but must be dealt with especially when you have children.

Hi A., my husband & myself went through state Farm insurance. they have all different kinds of plans and what would be right for you. we have our's set up where half of our policy is set up for our girls for college. if both of us passed together then if one of us goes like if my husband goes he wants his whole policy to go to me to raise our girls pay off the house whatever.mine is set up if i go he gets 1/3 and the rest is split between both girls for college,or first house if they decide to not go to college, then they get a share when they reach a certain age. because my husband is the one who works and i stay home thats how we have it set up for now.now we are working on a will to back up our life insurance policy. and we have it also set up if both of us pass then the money is set up for their godparent,school,home ect. hope this helps with ideas. we went with state farm is because they are so well known. you have to be careful with different companies. then you got to think about when you are alot older and will your policy continue to roll over. so just do homework find whats best for you. also we also considered if we were to ever divorce. how the girls will still be taken care of because they are our main goal. good luck.

My husband and I took out enough to pay off our mortgage and replace each of our salaries for one year's time, and then funeral expenses too. Icky to think about - yet very necessary.
-j