We haven't talked life insurance in a while

[Bernadine]

Where did you get yours?

I think I know how much, and 20-year term, but I don't know where to start looking as far as companies.

[illgetthere]

Mine is from USAA, but I have also seen selectquote recommended as they give you rates from many companies

[agnes]

I'm going to follow this, because it's been on my mind lately.

[icedcoffee]

Selectquote. They make it easy and will price out a bunch of companies. It's very easy, but expensive if your H has shitty genes.  

[thebreakfastclub]

We actually got the 30 year term, because I didn't want my son to be on his own at just 21 if something happened to both of us. It goes into a trust and he would get 1/3 at 18, 1/3 at 25 & the final balance at age 30. He can access it at any time for college or a home.

[mekia]

Mar 29, 2017 12:18:18 GMT -5 illgetthere said:

Mine is from USAA, but I have also seen selectquote recommended as they give you rates from many companies

Ours was from USAA too until I found a better deal through my work. 

[flex]

Originally through AIG, and boy...am I glad we had it. DH was healthy and in good shape.

After 2008 I switched from AIG and am now insured through Primerica. I have it so my children will have some $$ if I kick the bucket. But it gets more and more expensive as I age, so unless I remarry, I will eventually cancel it.

[isabel]

I think DH got our recent policy by searching with the broker who he used to bundle our home and auto insurance. We just dropped our other two policies because we needed to increase it and it was cheaper to drop those and get new policies.

We each have a 20 year term policy for $500k. Our moms are the beneficiaries after each other because they are who the kids would go to. I have no idea if that amount makes sense, but we figured it's enough for the remaining spouse or guardian to pay off our house and still have some money left over to manage other bills for a year or so.

[WOUNDTIGHT]

I like the Haven Life website

[illgetthere]

Mar 29, 2017 12:22:45 GMT -5 mekia said:

Mar 29, 2017 12:18:18 GMT -5 illgetthere said:

Mine is from USAA, but I have also seen selectquote recommended as they give you rates from many companies

Ours was from USAA too until I found a better deal through my work. 

I also have 2 policies through my employer, but I like knowing I have some outside coverage as well.

My h would have crazy high rates, so he has a policy from a previous employer of mine that we ported as well as a policy through my current employer

[thatgirl2478]

Zander Insurance also has online quotes - you can enter fake contact info if you don't want calls.

[gretchenindisguise]

We just went through the same company as our auto and renters insurance. Their rates were similar to what we'd seen elsewhere and it was just easier.

[CurlyQ284]

I suck at money and this is one thing I don't understand.
We both have life insurance through work, not the minimum I got the max allowed which is a substantial amount. Do I need a private policy too?

[googled]

We got ours from USAA, as well. 

We pay about $150 a month. My H's policy is about $14 more expensive than mine because he used to smoke.

[googled]

Mar 29, 2017 12:55:12 GMT -5 CurlyQ284 said:

I suck at money and this is one thing I don't understand.
We both have life insurance through work, not the minimum I got the max allowed which is a substantial amount. Do I need a private policy too?

I have always been told by those wiser than I that you should have life insurance equal to your salary X 10 years to either allow your family to pay off debts in one fell swoop and get by on the remaining salary (if a husband passes before a wife, for instance) OR to live the next ten years as if that person is still contributing while you work on downsizing or doing whatever else you need to do to live within your new means.

If the max allowed from your company policies allow you to do that, great! If not, I'd probably look into a private policy to supplement.

[icedcoffee]

Mar 29, 2017 12:55:12 GMT -5 CurlyQ284 said:

I suck at money and this is one thing I don't understand.
We both have life insurance through work, not the minimum I got the max allowed which is a substantial amount. Do I need a private policy too?

There are 2 issues with policies through work:

1.  Often the maximum you can get is not that high.  
2.  If you leave your company you can't always keep your policy and life insurance only gets more expensive/harder to get so you want to ideally get a policy as young as possible.

[CurlyQ284]

Mar 29, 2017 12:58:58 GMT -5 googled said:

Mar 29, 2017 12:55:12 GMT -5 CurlyQ284 said:

I suck at money and this is one thing I don't understand.
We both have life insurance through work, not the minimum I got the max allowed which is a substantial amount. Do I need a private policy too?

I have always been told by those wiser than I that you should have life insurance equal to your salary X 10 years to either allow your family to pay off debts in one fell swoop and get by on the remaining salary (if a husband passes before a wife, for instance) OR to live the next ten years as if that person is still contributing while you work on downsizing or doing whatever else you need to do to live within your new means.

If the max allowed from your company policies allow you to do that, great! If not, I'd probably look into a private policy to supplement.

I think it's either 6 or 8x. Thanks for clearing that up!

[cabbagecabbage]

Ugh. Currently we're on the neither is allowed to die plan.

[sunshineandpinot]

Also select quote and overall, I was very pleased with the experience.
Now we just have to get our wills together :/
The life insurance was a big priority and I feel a lot of peace knowing we have that in place. But we have a lot more we need to do.

[clairedunphy]

We went through our auto and home insurance company. We got reduced rates since we had all our policies through the same company.

[sarahsays]

Ours is through Prudential. We also have some through work.

[meganew]

We went through a guy that handles my IL's insurance and he found us a great deal throughout Banner Life (I think)- I have 500k and H has a cool million, both 30 year term, and I think combined we pay $115? It's such a weight off our shoulders just to have it, but we should really set up some kind of legal document (trust?) to set up how it's to be used if something happens to both of us : /

[revolution]

We each have a policy through our work

I also have DH on my work policy

We each have a policy through AAA also

[starlily]

I used Selectquote. It was as easy as everyone said it would be. I have a 20 year term policy, which will provide coverage until the first couple years of my retirement.

I also chose the maximum amount I could get through my work without getting a medical exam.

Together it's just about 10x my salary, for $90/mo.