Wednesday, October 10, 2007

Life Insurance

This is an extremely random topic, but I’m looking for some advice. I’m interested in getting additional life insurance above what my company provides. I’m not planning on dying or anything; just looking for some information. Does anyone know of good companies to contact or of reputable insurance agents, preferably in Northern Virginia? I really have no idea where to start.


Messiah said...

Well, hearty congrats if this is your way of announcing that Pam's expecting.

At our (relatively young) age, it's better to get term life insurance (insurance for a set number of years, usually 10) and then switch to whole life when that term is up. Whole life is basically a long-term investment plan where, esentially, the insurance company gets a portion of the interest your premiums generate. With term life, you won't get anything back if you live. With whole life, there's always some money available even when you're alive (it's just that there are a lot of restrictions on when you can use it).

So, I recommend checking on the web for various term life options (there are several comparison sites) and call one or two reputable places that seem to have good deals.

Sean said...

That's funny, but there is no Ramblings Junior on the way.

While term life makes some sense, my issue is that once the term is up, it's over. You have to start over again and at that point, the whole life or term life will be more expensive just based on the fact that I'm older.

I need to do a lot of research.