I'm a single mother and I'm trying to locate a life insurance company that offers a low monthly premium and list my children (ages 5 and 8) as a beneficiary. I'm aware that most companies offer the benefits at ages 18-25. I want to provide these benefits for my kids if something should happen to me!
199393
Your best bet is to consult with an insurance professional.  All the major life insurance companies are reputable.  I would avoid anything on line.  An insurance professional will work out something for you within your budget and explain how to list your children as beneficiaries.  They do not have to be adults to be listed on your policy.
277837
Good things about life insurance:\n1) In event you die, your family will be taken care financially (of course, how long this money last depends on how much coverage you bought)\n2) If you buy it now, you can lock in the premium.\n3) You can name anyone as your beneficiary\n\nBad things about life insurance:\n1) If you don't know the different types of life insurance, many agents will trick you into buying the most expensive product. (I suggest buying a 20 or 30 year Term and invest the difference. Its the most cost effective way.)\n2) Some life insurance policies contain a savings or cash value attached to it. Such policies should be avoided at all costs. Why? If you wanted to use it, you will have to borrow it. If you die, your family will not get the savings.\n3) The older you get, the more expensive it becomes. (thats why you should buy it now instead of waiting when you need it the most)\n\nGood thing about not getting life insurance:\n1) You don't have to worry about the monthly or annual premiums\n2) You can invest more money into your retirement.\n\nBad thing about not getting life insurance:\n1) Your family (or your future family) will face a financial burden and may have to take drastic measures to cope with the financial situation such as selling the home and living in apartment, cutting kids education, etc. in the event of your death.
622196
That website is a total scam. $1 for just first month premium and then it is adjusted to your current age after that. If you want to do the right thing, you would keep investments separate from insurance.\n\nTwo ways to invest for your children:\n1) Open UGMA/UTMA account at a financial institution\n2) If investment is to be used for college, then open a 529 plan or Coverdell plan.\n\nIf you are looking to get insurance for your children, you would buy a 10, 15, or 20 year term with just $10,000 in coverage. After that, they are old enough to buy their own life insurance.
483265
the thing is as a Life Agent they insurance companies that I work for would want to know why you are covering your children for $500,000.00 now you could pull a policy on yourself with no issue and that $11,000.00 you are looking at paying would be better for you you would be paying way over the needed amount to cover your children with compounded interest and everything if you are looking at pulling this type of policy I would love to help you with it I do not work for NY life but would be able to give you pointers as well as maybe show you a few other companies depending on the state that you live in that would maybe be better back to covering the children I know that all the companies I work for would wonder why you would insure your child for more then $200,000.00 without good reason IM me and I will see what I can do my IM is rahnside\nA Life Insurance Specialist\nRahn Sidebotham II
509747
My condolences about your friend and her loved one.\n\nI’ve linked to articles describing how to choose a life insurance and how to calculate how much life insurance you need. I’ve also linked to online calculators to help you figure it out. Deciding how much life insurance is enough is a very personal decision – what’s right for you might not be right for someone else.  I’ve also linked to an article about what to look for in renewable term life insurance.\n\nYour concentration on the life insurance company is a good idea, since your life or disability policy will only be as solid as the financial strength of the insurance company you choose. After you read the articles below and get a firm idea of what kind of policy you’re looking for, try visiting MostChoice.com. You can compare insurance policies online quickly and speak to multiple insurance agents working in your community – all without any obligation. It’s a quick and simple way to swiftly survey the local insurance market, and MostChoice provides information on more than 140 companies with A+ or better financial ratings.\n\nYou can find MostChoice here:\nhttp://www.mostchoice.com/life-insurance.cfm\n\nHope this helps,\nBarnes@MostChoice
305944
I go to college with 27 year old who has 5 kids by 3 different fathers and has been on welfare since she was 15. I am a college student who works 2 jobs and cannot get health insurance from the state. I have no children and pay for college myself. Is that a good enough answer?
150610
I'm an insurance agent.\nYou're asking specific questions that will vary depending on the company. Some people do very well, others do not do quite as well. It is rare to find any subsidy in the life insurance/financial services only market. If you want to go into insurance sales (which CAN be extremely lucrative), I'd go into P&C also. The renewals come faster and more often.\nPeople who do life insurance/investing/financial planning only tend to do well when they are very well connected and know people with a lot of assets. If that doesn't describe you, ask your company how they're going to get you leads. Chances are, they're not, and the lead biz is tricky.\nIf you're not used to sales (that is, a lot of people saying no before they say yes), then it's going to be hard. However, it can be very rewarding. After a couple of years (unless you're super-stellar), you should be making six figs.\nI'd say first year, plan on between $40 and 70k, REALISTICALLY. \nWhat company is it? I can probably tell you more w/ that info.
93997
Contact your local law authorities,...as I'm SURE they'd appreciate your interest in doing the right thing.  Having health insurance and a life insurance policy might not be a bad idea either.
247713
Colonial Supplemental Insurance. Coloniallife.com  I am a licensed agent with them and can tell you my money is good. Try them out. We do supplemental employee benefits. We are similiar to Aflac, but much better
366727
Are you buying your own plan or are you employed? Employer based insurance is usually the best and the cheapest.\nIndividual policies are okay the thing is as you add more things to it the price goes up. There are tons of of websites offering "the best insurance" but this is what you need:\nLow deductible, Low inpatient stay deductible/copay.\nReasonable pharmacy plan if it's offered with the medical.\nDo they cover your annual exams for both you and the baby, some individual plans don't.\nDo they cover baby vaccines. \nLabs and radiology is there a copay? Some radiology tests may on different plans.\nBirth Control what products are covered, if any? (after you deliver)\n\nAt my job I suggest www.ehealthinsurance.com
436660
It is about "Risk" as you know Insurance is a business "pure and simple".  Your company has "Loaded" rates, this means that someone in your company probably has a health problem that has cost your companies plan to spend thousands if not millions in paying out claims.  Every  single policy has a "Ratio" or profit margin to it.  What this means quite simply is that your companies plan is expensive because the fact that someone or several people are utilizing the plan.  When you purchase Individual or Family plans, you are Underwritten Individually based on your medical condition.  I will give you an example:\na. Sarah aged 40 applies for health Insurance she takes no medication is 5ft 9inches tall weighs in at 140lbs, has no health conditions, and at her last physical the doctor gave her a perfect bill of health.  She is offered a Tier 1 rate (lowest prices)\nb. James aged 40 applies for health Insurance he takes medication for High Blood pressure, is 6ft. 250lbs doctor said at his last physical that his cholesterol is too high and has prescripted a medication to lower it.  He is offered tier 4 rates and is asked to pay 150% high premium than Sarah.\nc. Group Insurance: If I try to get my wife coverage in my group, the rates are based on the health condition of my group.  We call it a RAF in the business "Rate Adjustment Factor" , this is based on claims usage throughout the previous year.  I hope this helps to understand how it works.
328064
Each company has their own policy.  Some may allow withdrawls starting at age 55 (reduced benefits).  Generally, the only way you'll receive a lump sum is if the company had a policy such that if the net value was below some threshold (depends on the company), they would pay it out as a retirement distribution.  You would then have to put it in an IRA of some sort and cash it out early paying the appropriate penalty.  You'll need to contact the benefits dept of your former company and ask their policy.
474308
I would check out this blog: http://obe231.blogspot.com that explains the difference in life insurance (and some other stuff). Look at the column on the left and click on "Everything you need to know about life insurance."\n\nSince you can't afford alot each month, then term insurance is the best way to go. For a 22 year old, for just $150,000 in coverage on a 30 year term, monthly cost is between $20-$30.\n\nYour partner will be a bit more expensive, probably in the $80-$100/month range.\n\nPrimerica is the only company that sells term insurance 100% of the time and not only that, they also help client invest the difference. They teach people to keep investments separate from life insurance, so they sell term insurance and mutual funds. Mutual funds can be bought regularly, but you will owe taxes on it. It is best you put mutual funds into an IRA. I don't know your income, but I assume its less than $94k/yr. So you qualify for a Roth IRA, which means your investments grow tax deferred and be tax free when you start withdrawing at age 59 1/2 or later.\n\nIncluded with the life insurance, Primerica will throw in a complimentary financial need analysis. For more info: http://www.primerica.com
255484
I know it's not right but some companies don't have paid benefits for part time employs, at your age they may consider you an insurance risk......\nSome companies you must work 1000 hrs. part time  before they make you full time to see if your going to work out there or pull your weight........\n\nI work at a warehouse store...... \nThey hire older people like yourself full time so they have insurance,  but if you abuse it they have know problem firing you!!!!\n\nWhat was your last job????\nWhat can you do?????\nAre you looking for full time for insurance????
286187
In many life insurance companies, no one is covered if the owner of the policy commit suicide. Some companies have a suicide clause where you are covered for a certain amount of time when you commit suicide. For a beneficiary to claim life insurance proceeds, a proof of death is required.\n\nRemember, if you are choosing term, you want to choose the maximum length available like 30 years. And also, you want to invest in mutual funds at the same time (you should put away $100/month into it if you understand the Dollar Cost Averaging concept).
238500
In life insurance policies, beneficiaries are usually listed in them to see who gets them. Life insurance companies usually distribute it evenly between beneficiaries. So you may still have your fair portion of the death benefit sitting with the insurance company.\n\nIf you are the owner of the life policy, you have the right to view it and see how much cash value is sitting in there. Your sister should not have it since it does not belong to her. You may obtain a court order to take it from her OR you can call the insurance company to find out how much cash value you have in there. There are two things you can do to access your cash value: 1) You can borrow it and pay it back later with interests 2) You can surrender your policy and take all the cash value (surrender charges may apply). Please note: If no one has been paying for your life insurance, it may have already lapse and you are probably not covered anymore. (life insurance are never paid up. Something must keep it enforce, so the insurance company will usually access your cash value to pay it until it hits zero).\n\nTo obtain a copy of your dad's life policy, he should have it somewhere in the home. If you can't find it, then you should call the life insurance company and ask your questions.\n\nIn any case, it is best that you get a lawyer since this is a family issue.
11022
Discuss your situation with a competent financial planner in your area. Do not trust anyone who tells you how much insurance you need without asking you any questions. Avoid insurance salespeople, especially ones who use a multiple of your salary approach.\n\nA good financial planner will complete a survivorship analysis for you. He/she will ask you alot of questions regarding your current financial situation and after making certain assumptions regarding rates of return and inflation, will be able to calculate your family's overall need for assets at your passing and how much of that need would be offset by assets you would have on hand. Don't forget to tell your advisor about any savings or investments you have as well as all life insurance in force, including employer provided. If there is more than enough assets already available, you do not need any additional life insurance, if not, consider purchasing more.\n\nThere is a widespread belief that term insurance is the only worthwhile way to insure oneself. This may not be the case. Term insurance is typically very inexpensive when compared to permanent forms of insurance (whole life, universal life, variable universal life, etc.) but it is important to remember that those term premiums will rise somewhere down the road. Approximately 90% of term policies never pay a death benefit, mainly due to the fact that they became too expensive to keep in force. Term insurance falls into two basic types, Yearly Renewable and Level. Yearly Renewable Term (YRT) premiums start very low. As each policy aniversary passes, your premium goes up. Each year you get older the resulting increase is a little bit larger than the previous year. It makes sense if you look at it from the insurance company's perspective; each year older you get is one year less you have left to live. Level Term will have a certain period where the premiums will remain level, usually 10, 20 or even 30 years. The longer the guarantee period the higher the premiums will be, but they will remain at the initial premium amount for the guarantee period. I prefer Level Term for my clients who need term coverage because it is a much more predictable amount to budget.\n\nPermanent insurances, while requiring higher premiums, also build a cash value, on a tax advantaged basis. If the policy is designed properly, it can make a good savings vehicle for LONG TERM investing goals. As with any important decision, the most important aspect is to get the advice of a competent, trusted professional.