Term Life Insurance-Term Life Insurance Rates

asked:


I’m 39 and have life insurance through my employer. I could probably obtain private life insurance for the same rate.

Is it wise to get non-employer term life insurance now (before I’m 40)?

I may not stick with my current employer for another ten or twenty years, but I’ll probably be here for a few years. Is there any downside to waiting to obtain term life insurance elsewhere?

Deana Plush

Kevin asked:


Has the cost of life insurance gone up, down or stayed level over the last 20 years? My wife wants to get a policy for our 11 month old so his rate stays the same incase he comes down with a major disease or something. I know it is really cheap for say a 22 year old to get a 100K policy that is in good health. So I wonder. The odds of something major happening are slim ( no know family history of anything) and we could use that money to add to his 529, IRA (when he starts working) ect… What’s everyones take?

Logan

ccvm18 asked:


i was diagnosed recently with a critical illness and would like to inquire on possibly selling one of my life insurance plans
great information. I was reading my policy and sounds like I might be able to convert the policy also. The insurance company offers critical illness insurance and disability insurance. Would this be a wise option? I’m a single income parent and self employed daycare provider

Sara

rogo711 asked:


If I am 63 years old, male; if I were to buy a $10,000 term life policy today and should pass away 2-5 years after starting the policy, Will all or any portion of the $10,000 be paid??? Also what is the best practice for a 62 year old on a less that $800 month Social Security check to do to purchase life insurance?? Thanks for any advice and answers.

Jane Boulette

asked:


I signed up for the expensive Variable Life Insurance policy when I was making lots of money. Now that my earnings have dropped, the Variable plan is too expensive. I have some health issues which will prevent me from getting a reasonable rate on a new term life policy. Is it likely that NW Life will allow me to convert to term at the “health standard” that they used to sign me up 15 years ago?

Isabella Seledon

TruthMan asked:


I currently have a $300,000 Adjustable Life Insurance policy and want to convert it to a $300,000 20 Year Term. Can I do this or will I have to surrender the policy and start a new policy? I checked my life policy and there is nothing mentioned about any type of conversion. Just curious about everyone’s thoughts.

Karen

aleida asked:


i want to know all possible factors that will affect my term or permanent life insurance rates

Felipe Zappavigna

asked:


I have seen around the internet that the maximum term life insurance policy allowed for a person in their 20s is usually 20 times their income. However, I was wondering if there are any policies that take into account the combined household income. If a husband and wife both make $40,000 a year, are they entitled to a policy that is based on $80,000 of combined income, or are all policies handled on an individual basis?

Craig Sudweeks

Eagle asked:


I am 37, healthy male overall was approved for 300,000.00 life insurance paying 30 dollars monthly with ING from Bank of America. Is this a good company go to insurance with? Any recommendations or bad experience with this company?
There is something in the 1st page where I would be supposed to send the check, which says “the company reserve the right to increase the premiums at any time just giving 30 days notice.” This I don’t like it to much?
Please tell me your thoughts. I am being trying to look for site or stories about it on the internet but nothing so far…
I should mention it is a Term life Insurance for 30 years. Not life for life.

Cristobal Ekstrum

shaham k asked:


Hello
I’ve been reading a book named “Starting a Small Business for Dummies”

In this book the author made a comment
as follows
“Term life insurance offers the best way needed coverage at the lowest cost and wrote “other policies such as universal, whole and variable life are collectively refferred to as cash value policies”
and says that the cash value life insurance is the bad option because it cost eight times what a term life insurance costs and in the early years the bulk of that money goes to pay insurance agents and adminstrative costs”
my question is —is that really true

and later in one of the chapters-the authors goes on and talks about different options of finding money for the start-up costs of the
business—
one the option it mentions is the life insurance
it says the following-” if you own a life insurance policies with a cash value, you probably shouldn’t because term life insurance is a better deal- it says that if you have a term life insurance, then consider cashing in such policies and putting that money for the start-up costs for your proposed business. ”

the confusion that is arising is how can you can cash in such policies-how can you cash these policies when you aren’t dead, because according to the information that I’ve gathered so far about life insurance is that the money from these insurance policies goes only to the beneficiries after that person dies..so does this really make any sense….

Thanks

Willie Staab