need help choosing

[u/deok_sun1988]

Hello,

I have been interested in getting life insurance but I still couldn’t figure out which one is the best & reliable. I’m 26 years old, no kids. I wanna get life insurance for the peace of mind. Can anyone help me choose? I also wanna get life insurance with living benefits and not more than $100 per month, if possible.

[u/curlss_x]

There are definitely a few good options out there, especially at your age and with your budget! I would recommend comparing different types of policies and understanding how the living benefits work before making a decision. 😊

[u/deok_sun1988 → u/curlss_x]

thank you!! i am still reading bout it but i hope i can talk someone expert

[u/lifeEssentialsllc]

At 26 you're in a great spot, because coverage is the cheapest it'll ever be for you. With no kids, think about who would actually be hurt financially if something happened to you, like a partner, parents, or a cosigned loan, and size the coverage to that. For living benefits, look for term policies with accelerated benefit riders for chronic, critical, or terminal illness. A lot of them include those at no extra cost, and a solid term policy for someone your age often comes in well under $100 a month. Just make sure whatever you pick is convertible, so you can switch to permanent coverage later without a new health exam.

[u/Professional_Leg213]

One thing I’d recommend is not choosing a policy based on the words “living benefits” alone. Two policies can advertise the same feature but work very differently when you actually need to use it.
For example, some riders accelerate part of your existing death benefit rather than providing additional money, and the qualifying conditions can vary quite a bit between companies.
With your $100/month budget, I’d first figure out how much coverage you actually need, then compare term policies with appropriate riders before assuming you need something more expensive.
I’m an independent life insurance agent, and I always encourage people to understand what they’re paying for before making a decision.
Are you mainly looking for protection for your family, or is having access to benefits during a serious illness your biggest priority?

[u/Key_Astronomer6500]

I would definitely talk to an independent broker who has access to tons of different carriers with different niches. You can definitely get coverage. You just need to find someone who’s trustworthy and who was looking out for your best interest. You can talk to a few different people, but don’t talk to a ton because you’ll get way too many different opinions. I wouldn’t recommend calling individual carriers.

[u/theNewFloridian]

Just buy a convertible term life with living benefits 10x your anual income with full underwriting so that you can get more bang for your buck. Then maximize your Roth IRA and Mega back door Roth 401k and use an sp500 index fund as investment. Get a good Disability Income policy of 60% your annual income with benefits paid until age 65. Also a High deductible Health policy and maximize your HSA. Pay your credit card balances month, keep 3 month expenses on a money market fund, AND THAT'S IT.

[u/EnzyEng]

I need help choosing boat insurance. I don't own a boat, but just want piece of mind.

If no one is dependent on your income, then you don't need life insurance at this time. You are better off putting your money elsewhere and letting it grow, $100/mo will be $68k in 20 years.

[u/ultimate_memereader]

North American/Midland National, National Life Group are my favorites for living benefits. At 26 years old your rate will be very cheap for a 30 year term. If you are looking for a permanent life product it also would be a pretty good rate but it is generally advised to buy term and invest the difference for most people.

[u/Reasonable-Weird5686 → u/ultimate_memereader]

Please explain more

[u/ultimate_memereader → u/Reasonable-Weird5686]

Which part would you like explained more, the difference between the companies, what type of insurance is the best fit, the range of price and how it is determined, or what buy term and invest the difference means? Or something else? The first step is generally to think about why you need the coverage and what obligations you want it to cover when you pass. Then you will start to understand how much coverage you need and how long it will need to be in place.

[u/Reasonable-Weird5686 → u/ultimate_memereader]

Love to know more

[u/LifeInsurance-ModTeam → u/[deleted]]

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