We are two parents, ages 35 and 40, with two kids aged 3 and 1. We want to buy a 30-year term life insurance policy for $500k on each of us. We are in excellent health and don’t smoke, but we want to avoid pressure from financial advisors or insurance agents. Since we live in Massachusetts, State Farm isn’t an option. Where can we find coverage?
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What do you mean by “agent pressures”? If you know the coverage you want, be clear about it and say no if they try to upsell. An agent can help you compare prices and find the best rate. I usually recommend Banner, as they often offer the best prices for healthy individuals, and you might qualify instantly without a medical exam. Brighthouse is another good option, providing instant decisions with no exam. Pacific Life is typically competitively priced as well and has a no-exam option.
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I am in MA too. I went with Prudential last week. Still, you have to talk to an agent. Life insurance isn’t something you buy on Amazon. Say what you want to the agent and he/she should be able to take care of you.
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Don’t view agents just as salespeople; many are genuine advisors. Honestly, consider visiting a financial planner to see what they can provide. Just make sure they are fiduciaries.
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What’s wrong with using an agent? This industry depends on good agents to help you find the best solutions and assist with underwriting, which is crucial for securing a favorable rating. A trustworthy agent won’t pressure you into buying something you don’t need. I’m sorry to hear you may have had a bad experience, but there are plenty of good agents out there.
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When you contact the producer, be clear about your needs. Let them know you want term insurance, and if they try to sell you something else, be ready to move on.
If that happens, consider Legal & General. They offer some of the best options for affordable term insurance and are available through several online portals.
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They’re pretty terrible to do business with, and have little to no conversion products in my experience, but yes they have very cheap term products.
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I recommend working with an agent regardless, as they can simplify the underwriting process for you. Check out term4sale.com to compare prices. I suggest considering Pacific Life; they are a reputable company.
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You might want to check if your employer offers a life insurance policy that is transferable upon retirement or termination. If your company is based in Texas, feel free to contact me.
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If you absolutely do not want to speak to or deal with any agent/advisor, go to ethos.com to get quotes and potentially buy it online.
Ethos will never be lowest rate or best value, but you won’t have to speak to anyone to buy it.
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IMO would go with New York Life . Just for overall benefits w the riders and conversion with their term policies. Although you will probably have to deal with an agent .
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Why NY Life (who will sell only NY Life term almost exclusively) versus someone who offers 20+ carriers and is agnostic to carrier?
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In my opinion, they’re a reputable company and rank among the top 10 in life insurance.