How do you shop for life insurance?

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amother

Fri, Mar 13 2015, 11:25 am

I am in my 20s, DH in his early 30s, we are both in good health and don't smoke. Both slightly overweight right now. I am pregnant. We are pretty tight on money right now, DH just lost his business. How do you shop for life insurance? What do the different terms mean? Can anyone recommend a good company?

amother

Fri, Mar 13 2015, 12:32 pm

Start with where you live? What country?

I am anonymous because I am not selling insurance but have strong knowledge as a tax attorney, a certified financial manager and a former life insurance person.

amother

Fri, Mar 13 2015, 12:47 pm

Thank you! I am in the US. In Florida

amother

Fri, Mar 13 2015, 12:50 pm

Start by finding a broker you don't know but who comes recommended. I just applied for something similar and feel so violated by the fact that they called the broker (who I know personally) about their questions pertaining to my personal medical history instead of calling me directly (even though they called me initially to get the info and interview me). I almost feel like I won't want to buy it from them even if they approve me.

proudmom8

Fri, Mar 13 2015, 2:16 pm

Hi,
Firstly, I am so sorry to hear about ur husb losing his job and your tough situation. I hope things turn around for u soon! Secondly, Congrats and bshaa Tova on the pregnancy!
Now, life insurance is pretty tailored to meet the needs and lifestyle of each person. I commend u for thinking of it and being responsible despite your hardship now, as you are expecting!! I have used a broker who is very helpful, knowledgable and honest. People I spoke to who have used him have all had positive experiences. He is located in ny...I am not sure if he is able to sell to a Florida resident or if each state requires its own license. PM me if you would like his contact info

amother

Sun, Mar 15 2015, 1:24 pm

Thank you!

It looks like I need a Florida agent, according to google

amother

Sun, Mar 15 2015, 2:23 pm

I am the amother who wants to know where you are located. I can't speak for other states, but even if you buy the worst rated policy in NY it is backed by an insurance fund and backed by NYS. As a Florida resident, you can buy NY life insurance.

You can bargain with life insurance sales people. Their commissions are huge and they have some play in the price.

Also, if your husband dies your child receives Soc Sec. My child get $1843 monthly.

amother

Wed, Mar 18 2015, 8:36 pm

Is the social security based on income?

I was quoted $58/month for DH by the agent, does that sound reasonable?

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