Any Good Life Insurance Recommendations?

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01/01/2021 Redacted Redacted

searcher University of Texas at Austin Texas Tech University

ANY GOOD LIFE INSURANCE RECOMMENDATIONS?

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

1 like 120 views 8 comments

searcher Rice University - Jesse H. Jones Graduate School of Business University of California, Berkeley Columbia University Willamette University - 01/02/2021

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.

like reply | 1 like

searcher - 01/02/2021

Definitely check some online sources and know what you're buying. There can be a lot of complexity in policies so having a good advisor is key to getting the right fit.

like reply | 1 like

searcher Missouri University of Science and Technology - 01/02/2021

Talk to multiple insurance companies. Each will have different requirements of what they need from you to process your application, and requirements will vary for the amount that needs to be insured.

like reply | 1 like

searcher University of Kentucky - 01/02/2021

term4sale.com is a great place to comparison shop and then you can find a broker or agent to underwrite your policy with the preferred carrier.

like reply | 1 like

searcher University of Hartford University of Connecticut - 01/02/2021

I just went through the process of getting a policy and I echo the term4sale recommendation from Robby (easy way to get initial price points and kickoff the process). Also would recommend checking out HealthIQ....I was able to get better pricing for my policy based on fitness level.

like reply | 1 like

intermediary Wake Forest University - Schools of Business Emory University - Goizueta Business School - 01/02/2021

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]

like reply | 1 like

searcher Murray State University - 01/04/2021

You might want to talk to Mark Willis at Lake Growth Financial Services for your options. You can look him up online to hear his point of view if it might be a fit. He has options to use life insurance for other vehicles like a "Bank on Yourself" strategy. Contact info is: [redacted]or http://nyafinancialpodcast.com/

like reply | 1 like

lender University of Pennsylvania - The Wharton School New York University - Leonard N. Stern School of Business - 01/04/2021

Matthew Major, [redacted]Great friend and Christian brother. He's connected to ALL the major ins co's, he'll find you the best deal.

like reply | 0 likes

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