Bargain Life Insurance

My husband and I are both 23 years old and we just purchased a home. We have been under pressure from our Insurance Agent and our Mortgage broker to obtain Life Insurance in case something happens to one of us.

We would like to have coverage in case something happens. I know the importance of Life Insurance, as my mom was killed in a car accident when she was only 38. So, we want to be protected, and we want our house to be safe.

We are pretty much clueless when it comes to Insurance policies. I ALREADY LOOKED UP THE INFO ON WIKIPEDIA, SO PLEASE DON’T GIVE ME MORE OF THAT. I want opinions on what the best kind of Life Insurance is for us.

Term (but if it is a 30 year term, does that mean when we are for example 54 and something happens after the 30 years, we aren’t covered???) or Permanant (whole life, and others). We didn’t like the decreasing term policy our agent showed us. We have gotten 2 quotes for Term Life.

Help us make an informed decision!!! Please!
Dan, I don’t have your email address!!!

Jayna

I’m really confused by all this insurance biz. What I’d really like to know is whether I’d be losing out alot by cashing in my whole life policy that I’ve had since 1985. The total death benefit is about $12,400. The cash value is $2400 which I could really use now. Would I be losing much since my job automatically provides basic life insurance to me which covers $38,000? I also have additional voluntary AD&D which covers another $38,000?

Emil

If you are an employee of PA, and you do not list a beneficiary on a life insurance policy, who does the money go to? or, What if you were an employee in NJ?

Gilberte

I just started a new job and I am trying to decide if I should choose a lower life insurance option that does not require the evidence of insurability form, or take the risk of applying for the higher insurance that I really want. I had DCIS a year and a half ago which was fully cured with mastectomy. I needed no chemo or radiation and had a clean 1/year check up. Has anyone had the experience of being rejected by a life insurance co for similar reasons?

Esperanza

Who has the best life insurance plans?

Cherilyn

2. What are the three differnt types of whole life insurance?
3. How much money does it takes to open each up each of the three policies?
4. What are annuities? Give two examples of annuities?

Zackary

I have been shopping around for life insurance that will not cost crazy premiums, anyone have good experiences. I am in my 30’s and in good health.

Anisha

I live in Texas and I need to find a separate insurance that will pay out benefits if I die from an illness. I already have a term life insurance that pays out if I die from an accident. Are there life insurances out there that will still pay a benefit if you die from a critical illness? If so, is a physical usually required? thanks.

Evelin

when people have high risk health issues or challenges it is often hard to find reasonable life insurance policies, I have a relative with a mental illness, but other wise healthy do you know of any insurance companies with such help?

Brenton

neither one of my parents have life insurance and if they purchase it they will not purchase much coverage.

Cris