Life insurance--where/what kind to get?
January 28, 2005 8:03 AM Subscribe
Life insurance--where/what kind to get?
My wife and I just bought a house, and I realized we need to get some life insurance. I have some already with my daughter (from a previous marriage) as a beneficiary. My work-provided insurance isn’t having an open season for a while. So who do I call?
My wife and I just bought a house, and I realized we need to get some life insurance. I have some already with my daughter (from a previous marriage) as a beneficiary. My work-provided insurance isn’t having an open season for a while. So who do I call?
Definitely buy term insurance instead of whole life (the investment part is a rip-off), and make sure it's guaranteed renewable. I've had good results with an insurance broker.
posted by rocket88 at 10:35 AM on January 28, 2005
posted by rocket88 at 10:35 AM on January 28, 2005
MrMoonPie: We are in the same boat, and have been comparing plans and types of policies (universal/term/etc). My experience is different that trharlans in that it depends ont he type of universal plan you get. Some plans are like interest-gaining accounts, others are money pits. The problem with term is that when the term ends, you may not be well enough to be able to afford the insurance you will need. Give me--or better yet, the wife--a call and we will be glad to pass on any information we have gathered.
posted by terrapin at 10:36 AM on January 28, 2005
posted by terrapin at 10:36 AM on January 28, 2005
Annually-renewable term.
posted by enrevanche at 11:03 AM on January 28, 2005
posted by enrevanche at 11:03 AM on January 28, 2005
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posted by jasonspaceman at 8:48 AM on January 28, 2005