Any good life insurance recommendations?

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January 01, 2021

by a searcher from University of Texas at Austin

The bank on my deal is requiring that I get life insurance for the full loan amount. Does anyone have any recommendations?

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commentor profile
Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA
Hi redacted‌. Check with your lender about the specific form of life insurance they are looking for. Life insurance covering a loan is not exactly the same as regular insurance. For example, it usually needs a collateral assignment vs. a beneficiary assignment. Suggest trying the Bailey Group (life insurance for loans is their focus): redacted
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Reply by a searcher
from Rice University in Houston, TX, USA
Searchfunder may have some agents that can support your insurance needs. I would consider reaching out to a local broker to shop around and also look at online sources like Select Quote, Geico, etc. Prices tend to vary between big names companies versus smaller or value oriented companies, so my personal pref. is to focus on decent company that's on the cheaper side. And in my opinion all one needs is a simple term policy.
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