Comments for Term Life Insurance Vs. Whole Life?

Comment on Is wells fargo mortgage payment protection a rip off? by Tom Z

Tom Z — Thu, 01 Jul 2010 03:59:59 +0000

I am suspicious of products that are being "pushed" by the lender. These products are usually limited in their coverage, almost always overpriced and viewed by the lender as an additional profit center.
References :
…

Comment on does anyone know of a good life insurance quote site? by Kerry- aka Money Saving Mama

Kerry- aka Money Saving Mama — Thu, 01 Jul 2010 03:27:59 +0000

I’d have to agree with rcdrury. Life insurance can get pretty "complicated" and it’s best to make an educated decision between term and whole life, although I completely understand that you’d like to ensure that you are getting the best possible rate. Do some research online to educate yourself and then, once you have a clear idea of what kind of life insurance policy you are looking for you may want to double check with a financial advisor before making a final decision. Only then can you shop policy rates.

Good Luck
References :
http://www.savingmoneysmarts.com/compare_life_insurance.html

Comment on Is wells fargo mortgage payment protection a rip off? by mbrcatz

mbrcatz — Thu, 01 Jul 2010 03:11:59 +0000

I think it’s a bad deal, but not a scam.

See, any time a LENDER is offering to "let" you buy insurance, that only pays THEM, well, that’s a bad deal.

If THEY want coverage to make sure THEIR loan gets paid, let them buy it.

If YOU want coverage to make sure that YOUR household bills get paid . . .. you want YOU to be the one getting the money, so you can decide if you’d rather spend it on the mortgage, or on food for your 19 kids.

Never pay to insure someone ELSE. If you’re going to buy it, let YOU choose who gets paid.
References :

Comment on does anyone know of a good life insurance quote site? by rcdrury

rcdrury — Thu, 01 Jul 2010 03:03:59 +0000

There is no such thing as a good life insurance quote site. First, all online sites "lowball" premiums, quoting best underwriting classes for which most won't qualify, and ignoring underwriting issues that will adversely affect the rate. More importantly, life insurance is not a commodity to be purchased by price; it is an intricate financial tool that is worthless unless properly employed. Consult with a properly qualified financial planner or advisor, not an insurance agent.
References :

Comment on Picking out life insurance for myself and family — help? by Caveat Emptor

Caveat Emptor — Tue, 29 Jun 2010 02:49:59 +0000

Before you worry about specific companies, first you need to make the fundamental decisions about HOW MUCH coverage you need and WHAT KIND of policy (term vs. whole life) is best for you. You say you've decided that life insurance "is a good idea" for each person. Why? What is to be the purpose served by that insurance? What is the need for it?
References :

Comment on Picking out life insurance for myself and family — help? by mbrcatz

mbrcatz — Tue, 29 Jun 2010 02:21:59 +0000

Nope. The insurance company that’s best for your mom, is probably not going to be the one best for you.

Website links you’ll get, pretty much all harvest your personal information to sell it as leads to hundreds of agents.

The reason why you’ll get referred to a broker, is because there’s no one company that’s cheapest for EVERYONE.

So, since you want to research online, do some thinking – heavy thinking – about what the GOAL is, for each of the policies. And read yahoo personal finance about life insurance, and the Dave Ramsey "truth about life insurance" page. If you have a concrete goal set (like paying for sis’s funeral), BEFORE you talk to the broker, then you won’t be easily sold on something you don’t need.
References :

Comment on Picking out life insurance for myself and family — help? by got it

got it — Tue, 29 Jun 2010 01:39:59 +0000

Hello there. A long time ago, i sold life insurance. First, look at level term – its cheap and good insurance. Next, remember what the purpose of insurance is – to protect the family in the event of the loss of the income stream produced by that individual. So, if dad works and makes 80k a year, you need at Least 800k in life insurance on him ie you put 800k in investments earn about 10% that replaces his 8ok to the family. Now, same with mom – make sure we cover her enough to be able to hire someone to replace her income, or what she does ie clean house etc. Your sister, chances are needs none unless she earns money for the family. The same with you. Go do a independent agent – ie not farmers or allstate, let that agent shop for you. good luck and i’m proud that your family is doing the responsible thing. my last thought, the 10x your income rule is the bare minimum, try and get more if you can afford it.
References :

Comment on Free term life insurance quote? by Kelly

Kelly — Wed, 16 Jun 2010 10:57:59 +0000

Here is a good place for free life insurance quotes: http://login.tracking101.com/sw/86914/CD12963/
References :

Comment on Free term life insurance quote? by fefe

fefe — Wed, 16 Jun 2010 10:36:59 +0000

You can go to the site I have listed below and you can get a "Term Life Insurance Quote from them" I recently received a quote from them to insure my family. Hope this helps

http://www.lifeinsurance.notlong.com
References :

Comment on Instant Whole Life Insurance Quote Question? by jocelyn

jocelyn — Wed, 16 Jun 2010 10:21:59 +0000

Try this site where you can compare quotes from different companies in your area

http://best-life-insurance-usa.info/

Hope this help,
References :