Comments on: Term Life Insurance. Which is better, One $800K or 2 $400K from 2 different companies.?

By: Clarifinancial.com

Clarifinancial.com — Mon, 19 Oct 2009 07:58:01 +0000

If they are the same price, 2 policies for $400k are better than one for $800k. The reason is because your state has a guarantee association that backs up the claims of bankrupt insurance companies (usually up to $300,000. check with your state). Normally insurance companies can find another company to buy them out before this happens. But in the rare event they can’t, I’d rather have two policies than one.

Of course, in the real world I doubt two polices cost the same or less than one. So given this is an unlikely scenario, how much is that risk worth to you?

For term insurance, it does not matter if it is a mutual company or not. I’ve never heard of a term policy that pays dividends.

By: Zarnev

Zarnev — Mon, 19 Oct 2009 07:58:01 +0000

One 800K from a highly rated company. You can check ratings on AM Best. 2 policies would generally be more expensive and there is no upside to having 2 that you couldn’t do with just one. It doesn’t matter if it is a mutual company or not.

By: mbrcatz

mbrcatz — Mon, 19 Oct 2009 07:58:01 +0000

Which is CHEAPER? Odds are, you’re going to pay less for the single policy.

By: Heather Garza/State Farm Agent

Heather Garza/State Farm Agent — Mon, 19 Oct 2009 07:58:01 +0000

Neither….your best option to get more bang for your buck so to speak would be a Universal policy. It increases annually….you can utilize the cash if need be….and it is extremely flexible. You can stop paying if issues arise and continue paying later, and it will still be there. Of course this is only for a certain amount of time until it is fully depleted. it is the best option. It is like having a savings account and Life Insurance in one!

By: Dick

Dick — Mon, 19 Oct 2009 07:58:01 +0000

You can easily check life insurance quotes in internet, for example here - lifeinsurance.awardspace.info

By: Martin

Martin — Mon, 19 Oct 2009 07:58:01 +0000

I think that its easier to have only one policy, try this site

http://linsurance.notlong.com

here you can get quotes from different companies so you can find the best option for you.