Life Insurance

[Gustavus Adolphus]

I'm trying to research companies - Prudential, Northwest Mutual, Pacific Life are the ones I've looked at so far - but just wondering what some of you have experienced. Did you go term, or whole? Have you rolled it over? Is it better to go with the company I use for my IRAs/retirement funds. Stuff like that.

 

[Mitchapalooza]

Omelet's gonna die any day now, he'll probably have the most knowledge about this.

 

[number51]

I have no idea, wife handles all that, sorry I couldn't help.

However Northwest Mutual has the best original song for a commercial of all time. I don't recommend using the awesomeness of this song as a deciding factor in making this very important decision. Good luck.

[video=youtube;GWtgEfCgKAM]https://www.youtube.com/watch?v=GWtgEfCgKAM[/video]

 

[Urblock]

Wealth advisor said that once you get a few hundred thousand in investments just have enough LI to put you in the ground. Different story if you have young kids. Talk to the people handling your investments. Not trying to be a smartass.

 

[dennehy]

policygenius.com lets you compare prices. I almost pulled the trigger last year but didn't. Found out recently I can get extra coverage through work for a better price. Will probably get some until my kid gets to college age.

I think Pacific Life would have been the best for me.

 

[airtime143]

I'm trying to research companies - Prudential, Northwest Mutual, Pacific Life are the ones I've looked at so far - but just wondering what some of you have experienced. Did you go term, or whole? Have you rolled it over? Is it better to go with the company I use for my IRAs/retirement funds. Stuff like that.

I have term maxed out to the limit- dirt cheap and the least I can do for my lady.
If I survive beyond working age, the lady gets the 401k and assets to go along with her pension- she wouldnt be hurting (that is unless illinois robs the pension fund again)

I honestly have no idea where she is at life insurance wise. We have a safe where she keep all her documents, and I always joke that there is just a drawing of a middle finger in there.

 

[HeHateMe]

I'm trying to research companies - Prudential, Northwest Mutual, Pacific Life are the ones I've looked at so far - but just wondering what some of you have experienced. Did you go term, or whole? Have you rolled it over? Is it better to go with the company I use for my IRAs/retirement funds. Stuff like that.

I got mine thru thrivent, very reasonable. Gear up for bloodwork.

 

[KittiesKorner]

AIG Valic for me at the moment. New York Life I've also heard good things about.

 

[DC]

We invest with NW. When the nurse came out to take blood and weight me, she purposely took 25 lbs off the scales number. She winked at me and said it may be broken. I gave her a coupon for a free dinner as she no doubt saved me $$$ on our premium.

 

[Hawkeye OG]

Don't go with whole. Terrible investment. Your money would be better invested in the market. If you're working with an Advisor, they will steer you toward whole because it's going to make them the most money.

 

[Burque]

I'm trying to research companies - Prudential, Northwest Mutual, Pacific Life are the ones I've looked at so far - but just wondering what some of you have experienced. Did you go term, or whole? Have you rolled it over? Is it better to go with the company I use for my IRAs/retirement funds. Stuff like that.

Hmmm So many questions. Not so sure they are worth getting into on a public forum. The one main question that you should be able to answer is: What are you trying to protect/accomplish with life insurance?

If you can answer that question you can find the best answer for a company that works for you.

 

[Spunky Porkstacker]

Don't go with whole. Terrible investment. Your money would be better invested in the market. If you're working with an Advisor, they will steer you toward whole because it's going to make them the most money.

Hmmm So many questions. Not so sure they are worth getting into on a public forum. The one main question that you should be able to answer is: What are you trying to protect/accomplish with life insurance?

If you can answer that question you can find the best answer for a company that works for you.

So you're biting your tongue on this comment?

 

[Burque]

So you're biting your tongue on this comment?

No. I'm saying that Insurance vehicles are used for a purpose. Figure out what you are trying to protect and you can find the right product.

A lot of people go product first, and it's the wrong way to approach the problem. Determine what you're trying to accomplish and then find the correct product solution.

Sent from my XT1254 using Tapatalk

 

[Spunky Porkstacker]

So in what situation is whole life a good option?

 

[Spunky Porkstacker]

That's what I thought.

 

[DC]

So in what situation is whole life a good option?

When you want to use it as an investment vehicle. Perhaps you want to leverage the money in the account and draw against it for a large business loan.

 

[Burque]

When you want to use it as an investment vehicle. Perhaps you want to leverage the money in the account and draw against it for a large business loan.

I didn't see spunkys question until today, but that is one reason and another is for guaranteed death benefits.

 

[gpphat]

I have New York Life and another through work. The one with New York Life was setup after I graduated college. Family friend took care of everything and set me up with whole life. Trusted them with whatever they setup and honestly haven't looked at it much since. Probably should look into it.

 

[Burque]

I have New York Life and another through work. The one with New York Life was setup after I graduated college. Family friend took care of everything and set me up with whole life. Trusted them with whatever they setup and honestly haven't looked at it much since. Probably should look into it.

A review never hurts. If it is an older policy it could be in really good shape cash wise etc.

You may be able to flip it into some newer guaranteed product that will give you more DB or some LTC coverage or something, but quite honestly if it is affordable and doing what you want it to I am usually a fan of leaving it alone.

 

[gpphat]

A review never hurts. If it is an older policy it could be in really good shape cash wise etc.

You may be able to flip it into some newer guaranteed product that will give you more DB or some LTC coverage or something, but quite honestly if it is affordable and doing what you want it to I am usually a fan of leaving it alone.

have had since around 2003, pretty low cost to me