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Shopping Around for a Life Insurance Policy

I have been meaning to purchase a life insurance policy for my husband for months now. We purchased a robust disability insurance policy awhile back, but I never got around to looking into a life insurance policy for him. I have a policy through my employer, which given my health issues, is probably the only way I could have gotten a policy.

Last night I finally decided to look into policies and ended up logging on to www.accuquote.com. I filled out information for husband, disregarding fields for social security number, driver’s license, etc, which I always avoid filling out over the internet and clicked submit. Less than a minute later the system returned five quotes from five different life insurance companies. The price for a $500,000, 20 year policy ranged from $345 to $365.

My husband and I have a 15 year mortgage, which will be paid in full by the end of 2018. Once the primary mortgage is paid off we will probably discontinue the policy. By the year 2018 I hope to double our net worth. Between paying off the primary mortgage and the increase in our retirement and non-retirement accounts we should no longer need life insurance policies. At least that’s the hope. In the mean time for roughly $350 a year my husband and I will have greater peace of mind.

C

Monday 21st of May 2007

I also checked Zander website and was impressed with the rates they offered. I would have checked the accuquote website too, but I didn't want to fill out the entire form with my personal information. I think of how much I'm paying right now for my whole life compared to a decent term policy. I could be saving a good couple hundred bucks a year if I make the switch.

LifeGuard

Friday 18th of May 2007

I used Zander insurance to get a quote along the same lines (except they returned about 30 results ... a bit of overkill if you ask me) for about the same price.