Is Policygenius a good option for shopping term life insurance?

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1

I’m 33, recently had a child, and want to get serious about life insurance. I’m looking at a 20-year term life policy to cover my family during this period, as I expect my 401k and Roth IRA to be sufficient in 20 years.

I’ve come across Policygenius, which looks like it aggregates policies for quick comparison. Is it a good resource? Are there better options?

I was estimating about $10,000 over 20 years for a $1 million policy. Does that sound reasonable?

For context: I’m a non-smoker, drink occasionally, and have borderline high cholesterol that I’m working on. I’m 5’10”, 210 lbs, and had back surgery over five years ago with no issues since. Any advice is appreciated!

2

My spouse and I used Policygenius for term life insurance a few years ago. It was a smooth process, and their agents were helpful.

Is the $10k for the entire 20 years? If so, that seems reasonable. If it’s $10k per year, that’s way too high.

3

@Baylen
Yeah, I meant $10k total over 20 years. Did you have to submit medical records or anything? Should I schedule a doctor’s appointment first?

4

Van said:
@Baylen
Yeah, I meant $10k total over 20 years. Did you have to submit medical records or anything? Should I schedule a doctor’s appointment first?

You might need to submit medical records, but the process is straightforward. Policygenius will arrange for a nurse to do a health checkup at your home or an outpatient facility. It’s all paid for by the insurance company.

The insurer might also request records from your doctor, but they handle most of it—you’ll just sign forms authorizing the release of info.

5

@Baylen
Thanks for the detailed info!

6

Policygenius is a great tool for comparing policies. Term4Sale is another option worth checking out.

7

Term4Sale.com is solid for comparison shopping. Your estimate sounds reasonable, but rates might be a bit higher due to recent market changes.

8

Policygenius is good, but I recommend using a separate email address for aggregator sites to avoid spam in your main inbox.

9

Term life policies have annual premiums, not upfront payments. Based on your description, $500 per year seems reasonable.

10

Thayer said:
Term life policies have annual premiums, not upfront payments. Based on your description, $500 per year seems reasonable.

Once I lock in a rate, that stays consistent for the full 20 years, right?

11

@Van
Yes, your rate is fixed for the term length. You can cancel early if you feel self-insured before the 20 years are up.

12

@Van
You could consider a shorter term (like 5 years), work on your health, and reapply later for better rates.

13

SelectQuote.com is another site worth exploring for term life insurance quotes.