insurance

We recently found out we are expecting a baby and need to open a life insurance policy in case something would happen to him so we'd be taken care of. We have insurance that is paid for by his employer. How do we go about getting life insurance? Is it added to our existing medical insurance, or can we get it separately?

You can buy a separate life insurance policy on your own, in addition to requesting life insurance from your employer, if they offer it.

To get your own life insurance policy you can contact a local life insurance agent, or visit a life insurance quote service to request free life insurance quote comparisons online from several insurers. You can learn about term life insurance at http://www.term-life-online.com

Term life insurance offers you temporary life insurance for 1-30 years. It costs much less than permanent life insurance, because it is temporary, and builds no cash value within the policy.

Many young families choose 10, 20, or 30 year level term life insurance because it offers the most coverage at the lowest cost.

Level term life insurance provides coverage and premiums that remain the same each year for up to 30 years.

If you want, you can request life insurance from your employer, but you may have to pay for it, and if you leave your company, or get laid off, the group term life insurance plan ends. You may be able to convert it to a permanent life insurance plan, but it would cost you a lot more. And, if you waited until later to get your own life insurance policy, you may not be able to qualify for coverage if you develop a health condition.

You may want to consider a term life insurance policy for you and your husband. Imagine what it would cost to replace everything you do for your family, and will be doing for your growing family once you have a child.

Bets of luck to you and your husband. And, Congratulations!!!

The real truth about life insurance is out there. Discover for it yourself: http://finance1o1.blogspot.com http://answers.yahoo.com/question/accuse_write?qid=20081208134529AAZYBdZ&kid=BcBZPFvgUXJPDLoxsdxL&s=comm&date=2009-01-24+19%3A35%3A17&.crumb=

If you have any particular questions please feel free to contact me. Everyone has a different situation so everyone has different life insurance needs. http://answers.yahoo.com/question/accuse_write?qid=20081208134529AAZYBdZ&kid=TIZGCWu_WGQoxSIZEEn1&s=comm&date=2009-02-11+16%3A40%3A50&.crumb=

There are many different kinds of life insurance policies and you'd never buy one with a health insurance policy or from the same person that does your car insurance.

I'm providing you a link to my site that will give you information about life insurance (since there is more than will fit in this forumn). Within the FAQs you can check out my blog which has plenty of useful information about types of policies and applying for coverage. Also, you'll see a link for term life insurance quotes. This will allow you to get prices for life insurance policies from ~150 different companies so you can get insurance prices prior to contacting a broker. That way you can be sure you're getting a good deal. The information and quotes is provided for your information and is available without divulging personal information.

And notice I said 'broker.' You want a broker that sells many plans and NOT an agent for one company. Oddly enough a New York Life Agent (no offense to them) is going to show you a New York Life policy. A broker can show you that same policy and hundreds of others. And, that NYL policy will cost the same to you from the agent or the broker.

http://insurancepickle.com/life-insurance/life-faqs.shtml

Hope that helps.

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You can get both separately. Life insurance covers more compared to medical insurance. It's a good idea to have both insurance.

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See an insurance agent. Life insurance is completely separate from medical insurance.

You talk to a local life insurance agent, and fill out applications and get quotes.

Be sure to set firm goals - do you want the polciy to still be in force 40 years from now?? What exactly do you want the polciy to accomplish for you?

Then, the agent will help you balance cost vs coverage. Keep in mind, they are predisposed towards selling whole or universal life, as the commissions are MUCH MUCH higher for the agent. But if you only want it until the baby is grown, a 20 year term policy is MUCH better.

REMEMBER - life insurance is NOT an investment product. It's not a good savings tool, it's not an effecient retirement planning tool, and it's a rotten return on your dollar, unless you die.