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 Posted: Thu Jul 16, 2009 11:27 pm Post subject: Life insurance |
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| I'm interested in getting life insurance but don't know much about them. Can anyone tell me what the options are? I'm 27 years old. |
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confusedind
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| Posted: Fri Jul 17, 2009 12:42 am Post subject: |
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Does your employer offer life insurance?
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"Be who you are and say what you feel because those who mind don't matter and those who matter don't mind" - Dr. Seuss
"Imagine an insurance company as a car, the president is driving, marketing has its foot on the gas, underwriting has its foot on the brakes, and the actuary is looking out the rear view mirror screaming directions." |
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DV360
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| Posted: Fri Jul 17, 2009 12:42 am Post subject: |
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In my opinion... Employer insurance is the best
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"Be who you are and say what you feel because those who mind don't matter and those who matter don't mind" - Dr. Seuss
"Imagine an insurance company as a car, the president is driving, marketing has its foot on the gas, underwriting has its foot on the brakes, and the actuary is looking out the rear view mirror screaming directions." |
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DV360
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Posts: 66
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| Posted: Fri Jul 17, 2009 2:32 am Post subject: |
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To the OP: First off, your question has a boatload of answers. There are dozens of different life insurance policies out there, all with different features, benefits and costs. My suggestion is to contact a true life insurance agent as opposed to an agent that dabbles in all lines of insurance. Good agents are your absolute best source of info. As well, you can look within our life insurance threads and posts for some help. Try googling "life insurance" and you will get millions of hits, some of them actually good.
Secondly- I'm curious as to why design360 said:
| Quote: | | In my opinion... Employer insurance is the best |
Why do you say that? Employer-group life insurance is almost always term insurance, and as such is transitory in nature. Even if you have a convertibility feature, you will have to convert to permanent coverage upon leaving the group and you'll be rated at your current age. There's no proof of insurability required to convert, but conversion plans run the gamut from cheap to reeeeeeally expensive. There are just a few group carriers that allow you to keep the group term in force after you leave your job- but that's really rare. I would suggest group as your main life insurance only if a person is uninsurable.
Now, without admitting any bias here- could you explain to me why you feel group is best? I also think that this would make a good post- group vs. individual life insurance.
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InsTeacher
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