I'm interested in term life insurance (10, 15, or 20 years) that will be an inexpensive way to protect my growing family until I can build up enough financial stability that my untimely passing will not have a major financial impact on them.
Essentially, while we're financially vulnerable, I'd like to have life insurance in place so that the house mortgage loan can be paid off, my income can be replaced, and my kids can go to college and have their education paid.
But once the kids are grown, the house is paid, and the nest egg is built, I don't want to be paying for life insurance anymore.
I have term life insurance now, but I'm finding the life insurance company to be incredibly difficult to deal with (phones are never answered, and even during business hours there are things like "all representatives are out to lunch" that make contacting them really shady).
I made my current decision based on "inexpensive", and I'm feeling now that "reliable" and "long-lasting" should have been more of a consideration when I purchased my life insurance policy.
My worry is that, should I kick the bucket, this will be a company that either has closed its doors, or has such disregard for customer service that my grieving widow will be unable to collect on my life insurance policy.
Has anyone had good luck with a reliable, reasonably priced term life insurance carrier?
Yes, there are many reliable, affordably priced life insurance plans and providers available.
Some solid insurance companies include Prudential, Northwestern Mutual and ING, among others.
However, one way to tell if an insurance company is financially sound is to review their AM Best financial strength rating - the higher the rating, the better the insurer as far as financial condition. Look for a life insurance company rated at least "A" Excellent for financial strength by AM Best.
And, to find the best pricing, compare life insurance rates online and find out which companies offer the best pricing. The quotes you get online will also provide the financial rating of the life insurance company, so you can compare pricing and ratings at the same time.
There are many good term life insurance companies, but III.org (Insurance Information Institute) issues a list each year of the largest providers of individual term life insurance policies. Here's how you can compare the top term life insurance companies and request your free, instant term life insurance quotes online now.