My husband and I are in our early 30s and planning to start a family. We want to get life and disability insurance. We know whole life insurance isn’t a good deal even though it’s heavily promoted.
Is there anything else to watch out for with Northwestern Mutual? Other posts say their regular Term 80 policy is decent.
Before having kids, you both did the right thing by getting life and disability insurance. You’re also right that the rates for whole life insurance are usually higher than what you need right now.
Hey Amanda, let me simply explain what it means
Term 80 life insurance guarantees a payout to your beneficiaries if you pass away before turning 80. The amount of this payment depends on your coverage. The reasons for choosing this type of insurance are significant.
Term 80 life insurance guarantees your beneficiaries a payment if you die before you turn 80. That payment depends on your coverage.
Looking for Term 80 life insurance? It lasts until you’re 80, pays out if you die in that period, and is good for young families (like yours!). It’s usually cheaper than whole life.
Northwestern Mutual might offer a good Term 80 plan, but get quotes from several companies! They might also push whole life, which you likely don’t need now.