Term Life Insurance-Term Life Insurance Rates

martin asked:


I am interested in a term life insurance policy for myself and mywife. We are 50 and 51 years of age and in overall good health.We are both overweight according to Farmers insuranceguidelines. Everything was fine with regards to our health exceptfor their restrictions about the weight issue.My question: What are we supposed to do in order to be insuredwith a reputable company ?We would be willing to pay a higher premium if necessary.Could you Please recommend some insurance companys thatprovide flexibility with regard to weight.

Jc Sittner

candance asked:


We just had a Primerica representative come in our house and try to tell us why we need life insurance.

I do agree and I would like a term life insurance plan, but am not sure if I want to go with Primerica. They are not the cheapest and I read some good and bad things about them.

Can anyone recommend some alternative companies?

How is Transamerica? They seem to pop up in the top 10 insurance company list a lot.

Scottie Canepa

E G asked:


the first 3 year i am going to add paid additions (PUI) 2 times the amount of the Premium

Shawana Leuy

frittlebugs asked:


It sounds a little fishy to me and I did ask her. She just said that it was better but I forget why. I was going to get two plans under my name, one with 100,000 face value and another with 500,000 face value. However, the rep advised me to get term insurance under both plans. Now I have two term insurance that will only help me if I die. Shouldn’t I have gotten only one and not have to pay for the other useless one?

Tiara Reznicek

tina g asked:


I have a term life insurance policy through my job and i wanted to know if the irs will be taking taxes out if and when the policy is paid by insurance company.

Tanja Frances

Linda C asked:


My husband has a long-standing whole life policy that cost him $200 per month. At age 61, it is no longer necessary and he’d like to switch to term insurance. He was told by his current insurance that he will have to pay huge Capital Gains taxes if he wishes to convert. We live on a fixed income and cannot possibly afford high tax penalties. What should we do?

Craig Summerhays

charisse asked:


What is the best health insurance and life insurance policies? I am recently out of the military and need to purchase an individual health ins policy. However, I am not sure which ones are the best. I am a student, do they offer any good student policies? Also, is the SGLI to VGLI conversion a good change to make? If not, which is better term or whole life insurance policies?

Giovanni Brisco

asked:


I am 37 with 2 kids I currently have term life on me for 250,000.00 and 100,000.00 on each of the kids.
Now there are tons of different life insurances out here is one really better than the other?
I currently have it thru met life does it really matter?

Calista Guyon

martin asked:


Any suggestions on finding a reasonable life insurance policy for a man 54 about to turn 55 in a month with a spouse would be appreciated.

He has a soon to expire term life insurance policy at the present.

He wants the best for his money.

Is a term insurance policy still the best type of policy or would another policy be better?

Cristina Harootunian

downey T asked:


My wife and I are in our 40′s and 50′s. We have created A/B trusts and transferred our assets to them, and expect to have estates that will benefit from the estate tax saving these trusts afford.

We recently both purchased $1M 10-year renewable term life insurance policies that we expect to keep for 10 years. We chose not to use life insurance trusts because the purpose of the policies is to replace the lost income of the deceased spouse if one of us dies relatively soon, not to increase our final estate, and the trusts are somewhat costly. We each specified our own trusts as the beneficiaries, because we want the disposition of assets specified there to be used for this money. The trusts provide for the income, and principle if needed, to be paid to the spouse, and for the remainder to be paid to our child at the remaining spouses death.

The question of ownership of the policies is less clear. My lawyer says that it doesn’t make much difference who owns them, because the value (estate) taxed is only one year’s premium, not the $1M. My accountant says that the $1M is taxed, and that each policy should be owned by the other spouse to avoid tax on that amount. A friend said that there’s no way to avoid or significantly decrease the tax, so just leave the ownership as is (each spouse owns their own policy). A further fly in the ointment is that the insurance company (Massachusetts SBLI) makes some forms of trust ownership more difficult and costly.

I’m confused. What ownership is the best? What is the benefit of that choice?

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Martha