Need some life insurance
 

I saw the recent thread about where someone found some good life insurance but I am looking for more inputs/experience.

With owning a home and a little one now as well as a bit more income I need to protect my family and am looking into life insurance.

I know it can be a bit tricky as an airline pilot and likely even more so since I still fly part 91 as well. Im looking for probably around 500K with a term of 20-30 years or so. Does anyone have any input as to who they use or what they know?

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USMCFLYR

Check out Zander insurance : Zander?s Term Life Insurance ? Dave Ramsey Life Insurance ? Zander Life Insurance

I have a 20 year term life @ 700k for 29 dollars a month. Only catch is its aviation excluded. I think with it, it was going to be little over 200 a month. My overall experience with them was positive. Hope this helps.

That is a good rate the only problem is that in all likelihood...if I go it may be at the hand of aviation. I certainly do not want to pay 200 bucks a month but I may have to find a middle solution. I am not worried about the airlines but I have an airplane and fly a hundred or so hours per year. I am not unsafe but statistically I cant rule out aviation.

I hear yah, they're a lot of trade offs out there. I hope to be in a position where I can include the aviation part soon. At least before the 20 year term is up lol. Good to see people having or making a plan for their families. I failed to mention the underwriting process took about 3 months or so. They sent a nurse to take blood and check my over all health. And later received the numbers on it and the parameters they should fall under. They wanted to know why I asked for 700 k being that I didn't make enough to qualify for that.I told them I would be making more in the future and gave them rest of my spill. Rule of thumb would be 10 times your income, all your debt if any, number in house etc. Well hope you find something that will work for you.

You MUST check out Navy Mutual Aid. It isn't just for Navy and they WILL NOT, DO NOT discriminate against pilots. They charge the same for teachers, SEALs, pilots...whatever.

I went through about four "name brand" insurance companies and every single one of them jerked us around in the end because we were pilots. It wasn't like this was new information, but they ALL did it and called it a pilot surcharge. It upped the original quotes by about 300%. I was ****ed off.

Not only was NMA affordable, they didn't jerk us and we got our policies for the same rate as non-pilots would get at the other companies. AND there are NO exclusions for aviation.

Worth a look.

BTW, I got $750K 20 year term for $43 a month.

Is 500K enough as a homeowner and one child? Are you going to have more children? Have you sat down and figured out how much your wife, child, and perhaps future children would need if you died tomorrow? College? Day care for years if your wife will have to work? Health insurance premiums for your family? Don't forget to include the Social Security benefits your wife and children may be entitled to upon your death.

Insurance agents may try to sell you whole, universal, and variable universal life policies, and variations thereof. They will want to sell them to you not because that is what is best for you, but because their commissions are higher for those types of products vs. selling you a straight term policy. It is unlikely that those are the best type of policies for you and your family. They are typically high cost policies with high surrender costs. Beware.

I did not realize term policies without aviation exclusions were so high nowadays. I had no problem finding competitive prices for term life insurance as an airline guy when I was in the market. Have you checked out websites like Term4Sale.com - Term life insurance comparisons (over 100 companies) ?

Thanks...I will check this out.

Global..this was a rough estimate that my wife and I thought of during breakfast..certainly not set on it.

My wife works and makes equal money to me and we have 1 kid with no others planned for. The 500 was based on paying off the house and providing 4 or so years of salary. We make a fair amount more than we owe so the idea is that as time goes on we would need less insurance as we would have more money and less debt. 500 is a good starting point but it may get bumped up a bit.

We have a winner. 600K 20 year term for $25.80 per month. No aviation exclusions whatsoever.

I'm forty seven and got a policy over at harveywatt.com
I bought a million in coverage with 10 year level premiums that I can keep until I'm 65 for about 43 bucks a month.

Best part is there are no exclusions at all for me and the wifes insurance so it'd pay for aviation and even war. we looked all around and couldnt find anything close without the exclusions.