School me on Life Insurance

King of the Tigers · Posted: Dec 30, 2013 1:26 pm Post subject: School me on Life Insurance

I'm looking into getting life insurance on myself and my wife. Both of us are in good health. I'm 34 and she's 28.

I was wondering what experiences people have had with life insurance and which ones do you think are best.

Thanks!

pet575 · Posted: Dec 30, 2013 1:32 pm Post subject:

Start by reading this:

http://www.forbes.com/2010/12/16/life-insurance-shopping-personal-finance-term-permanent.html

and this:

http://money.cnn.com/magazines/moneymag/money101/lesson20/

eich82 · Addict Joined: 13 Jan 2003 Posts: 860 City: MTP

The two most important things:

Get Term insurance not whole. Whole is a ripoff no matter how your insurance guy tries to spin it.

Make sure that you get it from a reputable, and well funded insurer. Insurance is only as good as the insurer providing it.

goofyboy · Posted: Dec 31, 2013 4:31 am Post subject:

Eich82 just laid it out. Not much more to it than that.

King of the Tigers · Posted: Jan 02, 2014 2:15 pm Post subject:

Thanks guys! Great info!

Those websites were very helpful.

ohsix · Posted: Jan 02, 2014 2:26 pm Post subject:

I've been shopping for life insurance over the past week and have learned a fair amount. Things get more complex than what is in the articles above. I would ask around and get a recommendation for someone. Educate yourself enough to figure out if they are being honest. Make sure they are getting quotes from several different companies and check the ratings for the company or companies they are recommending.