Where can I get a quote for Term Joint Life Insurance (First to Die) in the U.S.?
The main reason that I am interested in the Joint Policy is so that if either my wife or I died, the other would have enough money to pay for the burial of course, and then also pay off the house, vehicles, and any other debt, so that she or I could keep the kids in our home. If I am understanding it right, by doing joint, I can get a larger pay out on the first death, instead of splitting the amount between two policies, which would only result in half of payout on one death for a comparable premium, which isn’t the situation that I am looking for a solution too. I look forward to all of your responses, and thanks in advance.
Thanks for all your suggestions so far, but I guess I should have been a little more clear. I have checked with different brokers, and online companies, but just can’t find any that offer the product. I know there has to be at least a couple of reputable companies that do, but I just can’t seem to find any in the U.S.
September 23rd, 2009 at 4:37 PM
You can easily check life insurance quotes in internet, for example here - lifeinsurance.awardspace.info
September 23rd, 2009 at 4:37 PM
You can either take 2 policies, one for each of you or a Joint Term policy. My suggestion is to take a policy one on each of you. Or, if only one person is a breadwinner, take the policy on that person and add a spouse rider under it.
Call some local agents in your area for some quotes and ask about those options. Let them help you figure out what policy is best for you.
September 23rd, 2009 at 4:37 PM
I would have to agree with car253 that it is probably better to take out seperate policies on each person. I don’t know of any companies that offer first-to-die term policies they are usually done as second-to-die. I would love to hear more about the situation as to why that is what you are looking for. As for finding a policy any independent insurance broker could help you with that. If you need help locating one just ask and let me know where you are located so I could find you a local broker.
September 23rd, 2009 at 4:37 PM
Any local agent should be able to help you with this. You can find one at http://www.iiaa.org