Best Strategy for a basic Level Term Life Insurance?
Anyone have a good source or strategy for getting level term life insurance from a good solid company?
I’ve had several agents quote me but they seem high compared to prices that my colleagues have attained. They all seem to shy away from the basic level term life insurance and push multiple riders…its obvious they are trying to maximize their commissions.
I’ve considered using a fee-only insurance advisor but the only local one I’ve found is 0 an hour.
February 26th, 2010 at 12:34 AM
If they’re all in the same price range, then maybe you’re just a higher risk than their friend.
As far as riders - I do recommend "guaranteed renewable and convertable". I just think that’s a good deal. Dave Ramsey always recommends Zander Insurance - they have a website. I am unafilliated with them, I just like Dave Ramsey.
February 26th, 2010 at 12:34 AM
Premiums could be higher if your older than your colleagues or if you smoke, have any health issues, or have a more dangerous job.
There really is no need to get an insurance advisor for a fee. Call around some of the big companies and get some quotes like Allstate, Farmers, State Farm, Auto Club, ect. Get the quotes in writing either emailed or faxed to you so you can compare.
And, I don’t know which riders your talking about. You might want to post them. Riders usually do not cost that much but you can pick and choose which ones you want or choose none at all if you want.
February 26th, 2010 at 12:34 AM
Why don’t you ask these colleagues what insurer they have and how well satisfied they are? That’s the best approach.