Life insurance

[Thriftmama]

Can anyone recommend where I can get good life insurance policy with decent pricing??

Thank you!

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[Shwa Girl]

we use a local insurance broker
they do the legwork, shopping about 25 insurance companies on our behalf
the broker takes down your needs and wants and helps to let you know which would be best for you
for us, they narrowed it down to 5 companies and asked us to choose
the broker reviews the companies from time to time and recommends changes if necessary

[brunt]

Agree on the broker thing.

Also, consider term as opposed to whole life. Life insurance has one, and only one, purpose - to replace lost income for your surviving dependants. It is not now, never has been, and never will be, an investment. Do not concern yourself with "legacy" or "gifts". These are the buttons that sales people use to try to get you to purchase more expensive insurance than you need.

Also, don't immediately buy into the argument that tells you to buy whole life because term premiums increase as you age. One of the basic goals of life is to, over time, reduce your need for insurance. That is what savings and investments are for. And these things are only possible to accumulate by maximizing your income and minimizing your expenses. So don't buy more insurance than you need, thereby increasing your expenses.