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Stay at Home Moms
Which Life Insurance Company Do You Use?
We are going through Select Quote and they have hooked us up with the lowest rates but I'm wondering if I can get a better deal elsewhere. Not sure where to get a quote from, other than them.
My policy is reasonable but they are wanting to charge us $87/month for DH's. He's 36 and we are looking to get a $450K policy (20 Year Term). Apparently the reason his rates are so jacked-up is because of his bone disease but I really can't figure out why breaking bones easily would mean higher chance of death?
I digress. Just looking for recommendations for other life insurance companies so I can shop around.
TIA!
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Re: Which Life Insurance Company Do You Use?
Do either of you qualify for usaa?
Love them.
Good question. I know my husband used to have a checking account with them so we must, right? He's not military so I'll have to check and see how he got in and then see if we can get some quotes.. thanks!
We have it through DH's work. DH gets $100k if something happens to me, and I get $500K if something happens to him. They also have a provision in their policy that if something happens to him during working hours, they give me an additional $300k.
DH has been thinking about getting outside life insurance incase he gets laid off again. But I don't see him getting laid off from this job anytime soon. They are a really good company and very good people. : )
If we do, it'll probably be through Allstate.
If you are already going through a broker (SelectQuote) they are already shopping around for the best price.
If you qualify for USAA, you could get a quote from them but they aren't always the best price for life insurance. They wanted almost 3x as much to insure DH as the company we ended up using (US Financial Life, purchased through a broker).
My policy is with State Farm. DH is going to take out more life insurance on himself (soon). We are going to go through underwriting w/ State Farm and Northwestern Mutual.
You want to make sure you check out the Financial Ratings of whichever company you choose - you want to know they have the ability to pay should you need to make a claim.
I used to sell life insurance... I HIGHLY RECOMMEND you have at least some of your life insurance through a company other than your work... As you mentioned, layoffs can happen at any time. And then, your health status may make you ineligible or coverage may be very expensive through a traditional provider. Also, with work coverage, rates may increase each year, but if you have a term policy with a traditional provider, your rates will be locked in.
You can get free life insurance quotes from Accuquote.com. Their database has about 1600 life insurance companies. With so many companies in one database, it increases your chances of finding the best policy at the most affordable rate.
I don?t know why life insurance companies would charge your husband higher rates for having a bone disease but that?s just how it is. There are companies who would look at that kind of thing more favorably, so shopping around is the best way to find a good deal for yourself.
Denise