Term Life Insurance

Shook said:

Which company are you with?

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Farm Bureau. I mostly sell auto/home (you have to have auto and you should have home), because when times are bad, life insurance is the first thing people get rid of.

CR ranked them as a National top 6 insurance company in customer satisfaction a few months ago (only one company that anyone could go out and get was ranked higher, the others were regional or specialty companies).

Smallville said:

Farm Bureau. I mostly sell auto/home (you have to have auto and you should have home), because when times are bad, life insurance is the first thing people get rid of.

CR ranked them as a National top 6 insurance company in customer satisfaction a few months ago (only one company that anyone could go out and get was ranked higher, the others were regional or specialty companies).

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Awesome. I know it's rare for most companies agents to not be pushy on the higher commission products.

I have 3 school age kids and carried term insurance of about 10 times my annual salary until 5 years ago when I had accumulated enough assets where I didn't need life insurance anymore. When you start having kids it's a good time to sit down and start a long term financial/retirement plan. At the very least get a couple of top rated books on how to invest/plan for retirement - many of these will cover life insurance and how to manage your 401k as well. Failing to have any kind of a serious plan until you are in your 40's or 50's is a huge mistake. We started 529 college savings plans for our kids on their first birthdays and now that 2 of them are teenagers we don't have to go through the all too common financial stress of figuring out how to put our kids through college.

tahoebum said:

Failing to have any kind of a serious plan until you are in your 40's or 50's is a huge mistake. We started 529 college savings plans for our kids on their first birthdays and now that 2 of them are teenagers we don't have to go through the all too common financial stress of figuring out how to put our kids through college.

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Wife and I were discussing that last night. As soon as the little one is born they are getting their own college fund. In the long run, it's so much cheaper to do it that way. "Putting it off" doesn't work.

jspangs said:

No one was getting 10% a year from 07-09 maybe even 2010. So a 10% over 7 years isn't very good. As losing 50%, while I did not lose that much I know a few guys in my trade that lost close to that. While we probably don't have the best managing our pension, they are right up there.

Keep Calm and Golf On.

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I was referring to an average return over that period of years. Again, if someone lost 50% they were not likely invested in an allocation that was suitable. That or the fund managers are incompetent.