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Q&A: Do I need life insurance?

Now that I'm expecting a baby, I want to get a life insurance policy. What should I look for in a policy?

Re: Now that I'm expecting a baby, I want to get a life insurance policy. What should I look for in a policy?

The Bump Expert

You have two options for life insurance. If you choose a variable policy, the premiums you pay will be high but you can invest the money in the financial markets. That could help the cash value of your policy, and cause it to either gain or lose value. You can also borrow against the policy if you need the money.

Your other option is term life insurance. It's cheaper than variable and pays only upon your death without offering those other financial options. And, if you don't die, no one you know will ever see those premiums. Still, many investment advisors will say to stick with term because it nicely serves the purpose of protecting your loved ones while freeing up those extra funds, which you can invest separately in an investment account with even more options and potentially smaller fees.

Brett Graff

re: Q: Life insurance?

Stick with term. You only want to do whole life if you are going to invest a lot of money at once. Term insurance will save you money each month because it's a lot cheaper and you can get a policy that is worth a lot more if God forbid anything should happen. We spoke to our financial adviser on this and he highly recommended doing the term and investing money that you would otherwise be paying for the high cost of whole life insurance.

Deegirl322 |

re: Q: Life insurance?

You can't just say "stick with term". Each case is unique. There are benefits to a term policy but there are also downsides: such as not being insurable after your term policy is up and having to pay astronomical rates for a miniscule amount. If you're looking for an investment then don't look towards life insurance policies. If you want to put money aside for your funeral and family, look into a life insurance policy-Universal (invests part of the money), whole life (no investment) or term (set period like $100k for 25 years). Depending on your age, health and occupation, a whole life policy (cashed out at age 100 if you don't die) may cost you pennies and cover you for life, regardless of your ailments. Check with an INSURANCE ADVISOR not a FINANCIAL ADVISOR. You wouldn't go to a mechanic to do your taxes, why should you go to a financial advisor for Insurance questions--unless he/she also SPECIALIZES in insurance planning?

rave251 |

Q&A: Do I need life insurance?

I am considering term insurance. I'm just wondering if I can qualify now that I'm pregnant.

thekendricks |

Q&A: Do I need life insurance?

My DH is an agent and for us, he would not get term. He says that less than one percent of term gets paid because most people don't die before the set amount of time. If you need something RIGHT NOW then term is a good option because you can always transfer it to whole life later. We got whole life with the option of buying more in case we get sick. That option gives us a chance to buy more for our plan even if we get sick so it helps out our family if something happens to us in the future.

vnguyen417 |

Q&A: Do I need life insurance?

The main point is YES you should get life insurance. Even if you are a stay at home mommy with no income, you have to think of the expense your spouse would incur on child care and other things if God forbid you die. You'll have to research what policy type will work best for your family now and in the future, but you should get some protection. (unless of course you are completely rich and a death would be no burden... must be nice)

Sandy281 |

Q&A: Do I need life insurance?

When I learned that my wife is pregnant I renewed our life policies and even got a better home insurance plan. I thought that we should be covered for anything so we shouldn't worry about anything else but the baby. It's always better to be cautious than sorry. My sister-in-law did the exact same thing when she found out she was expecting a baby. I just think it's a simple thing that can help a lot if necessary.

girones |

Q&A: Do I need life insurance?

Yes. It's going to help protect your family in the event of the worst thing happening. Make sure you get the correct insurance. Some people will feel a little low after pregnancy and may want no medical life insurance, but be careful! If you feel self conscious about having a medical you'll pay more in the long run.

vanmarley |

Q&A: Do I need life insurance?

I see that other have given some great advice. Thanks for them! One type of policy you might consider is thecatastrophic health insurance . It covers some aspects that other policies might not, like major medical events, and touchwood- unexpected pregnancy problems. It also allows for people with pre-existing medical conditions. All these might sound good, but you might want to research more on this before making a choice as it is not for everyone.

djohnson12 |

Q&A: Do I need life insurance?

I was reading something about Cohen Asset Management and I thought you may want to know that life insurance is something that we should all have and we should all think about getting one.You can never know when you will need it.

Maxxxxy |

Q&A: Do I need life insurance?

If you are in this age group and do not have anything in place to cover funeral costs, medical bills, or estate taxes. You may need to think about a tiny final expense life insurance plan. Perhaps you have thought about leaving a legacy gift, charitable gift or funding a grandchild's schooling. All of these scenarios and plenty of more can be obtained through a Life Insurance policy owner. My suggestion My suggestion take Medigap Insurance Fort Myers, Florida .

Rochellevnj |

Q&A: Do I need life insurance?

A i don't like this life insurance... many cases born for this ... islamic banking dissertation

nahshal |

Q&A: Do I need life insurance?

You're in good company, a recent survey found that most people are prompted to purchase life insurance because of marriage or the birth of a child. That's us. And there's no better time to buy life insurance than right now. Rates are lower than ever before because of 1) the economy and 2) carriers are having to compete on price because of Internet sites that compare insurance. (As you get older, even by one year, your rate goes up.) You can easily check out how much it cost at Quality Term Life, using their insurance quote engine. It's totally free. I used it because they don't ask for any contact information in order to try out how much different amounts of coverage will cost.

QualityTermLife |

Q&A: Do I need life insurance?

Life insurance is not mandatory like auto insurance but it's very useful because you can never know what could happen to you.

deanjohnson |

Q&A: Do I need life insurance?

Oh, do believe me that you need it. Just get covered against any risk that you might run into and if anything happens, you’ll have enough money to cover all your family`s needs at the end of the contract. There is no better deal than this one, I can assure you.

conquerer |

Q&A: Do I need life insurance?

You might leave some money in joint or pay-on-death bank accounts, or place marketable stocks in joint tenancy or register them on beneficiary (transfer-on-death) forms. For more information, see life ant

fosemuz |

Q&A: Do I need life insurance?

Yes, and most expert financial planners recommend carrying 10x your household income in total life insurance as a minimum. So if you make $50,000, get quotes on $500,000, etc. At www.lifequotes.com you can instantly compare the rates of 47 life companies in 5 seconds - anonymously. No hassles. Good luck!

7kidchaos |

Q&A: Do I need life insurance?

You can have many benefits from a health insurance, and you don't have to be sick to make one. Most people don't want to spend some extra money on it, but these days anyone can find an affordable health insurance, for instance, from http://zellnerinsurance.com/healthcare/. Also, a health insurance isn't mandatory, but is very useful.

marta8080 |