Comments on: How to Compare Life Insurance Policies

By: ralph@insurance.comparisons.org

ralph@insurance.comparisons.org — Mon, 06 Jun 2011 10:04:37 +0000

Always select premium payment option as annual. This option is cheaper than monthly or quaterly premium payment option.

By: Thomas Dreyer, LUTCF, MSAA

Thomas Dreyer, LUTCF, MSAA — Thu, 24 Mar 2011 23:56:34 +0000

From recent, unfortunate experience, I can attest to the fact that the best life insurance you can have is the one in effect when the death occurs. Yes, the choices are all confusing, but a little savvy is worth the effort. Term life is the best value out there, assuming the death occurs during the “term” that the policy is in force. Sometimes it is invaluable in protecting your family’s lifestyle while you are in your earning years. When my youngest daughter was 5 years old I took out a partial funeral arrangement funded by life (whole life with accelerated benefit of 5% yearly) insurance. Who would ever have thought that at age 25 my daughter would be murdered . Surely not me or my wife. We are in a different state than we were then and the “arrangement” was worthless as we used local mortuary. But the death benefit, which came tax-free, although not covering the entire cost by a long stretch, none the less was a big help when it happened. We paid a little less than 1/2 of the original face amount over the 5 years of premium and the benefit we recieved when she died was 5 times what we paid in premium, twice the original death benefit.

You can shop & shop and the longer you wait the more likely you either cross the line of insurability or you need what you don’t have. Put into writing what you want to happen when you die. Plan in detail. You can always change plans, even those who survive you. But if you don’t plan in advance, you force those left behind to do so. Sometimes the disagreements amongst family members or the financial stress it puts on the family at the worst possible time is enough to cause irreversable damage. Do them a favor, plan for the worst and live for the best.

Make each day a masterpiece.

By: Dennis @ Medicare Supplement Leads

Dennis @ Medicare Supplement Leads — Tue, 07 Sep 2010 15:54:37 +0000

You’re right about the difficulty in understanding the many different life insurance policies available today. In addition to the several you have mentioned, the average Boomer is now contending with Final Expense Insurance offers, Mortgage Protection Life insurance, and Medicare Supplement insurance policies.

It is certainly a challenge to become expert in all these varied types of insurance policy. Can you suggest sources or articles that would be helpful?

By: Laura

Laura — Wed, 18 Aug 2010 22:48:04 +0000

It seems like there’s so many insurance companies these days. My tactic has always been to do some serious price comparison and go with the cheapest deal.

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