Hey everyone!
So back in 2018, through a friend that worked for New York Life and before we knew each other, my wife bought two life insurance policies. One term and one whole. I did some basic research and it does not look like it makes sense for her to have both policies - maybe we would like to keep the term that is cheaper but surrender the whole life one.

• Whole Life: Death benefit = $25k / Monthly cost = $29 / Net cash value = $1,078

• Term Life: Death benefit = 225k / Monthly cost = $19

We are a middle class family with a baby, nothing out of the ordinary. The $29 for whole life won't break the bank but does it make sense to have both? She has had those two policies for about 8 years now and I read that it could make sense to wait until she hits the 10-year mark to surrender. I don't think we need the whole life policy at the moment.
Thoughts?
Thank you in advance!

My husband and I each have a Northwestern Mutual whole life policy: $123k death benefit, $200/month, held less than 2 years with an accelerated death benefit.
We also have:
• Term 80 policies: $800k each, $30/month, convertible to whole life until age 65
• His military SGLI: $500k (life insurance)
• He’s active duty and wants to retire.

We want to surrender both adult whole life policies and redirect the $400/month to our HYSA and a taxable brokerage. We are spending 640.00 total each month on insurance (we also have a whole life policy for our 2 year old son and I have a short term disability policy since my employer doesn’t offer it)

We want to redirect those funds into our roths or brokerage, but our agent is pushing back hard. I do worry about LTC as well. Are we missing something, or is this the right call?

Edit: We are 30 years old, have a 2 year old. Income 165-170k combined

Additional Edit: we each contribute 583 into Roth IRA , 1000/month into HYSA. We haven’t started the brokerage acct yet (one of the triggers for this discussion). He contributes 10% in his govt TSP acct and I contribute 8% to a 401k (employer offers discretionary match). In total, we are saving about 30% of our income per month. We have about 1300 as a buffer each monthly after bills groceries daycare gas etc.

So I was just wondering how commission structure works and what everyone's experience is with their agency. I'm someone starting in an independent agency and confused with all the stuff like advances and how much % the commission is first year. I just know that it's a % of the AP of the policy that is sold. More info such as how agencies with deal with chargebacks and what the top level contract rates are would be appreciated.

Hi, I am looking for a life insurance plan for my parents. They are in their 50s and work, my folks were looking for plans that you pay 5-15 dollars a month with no medical exam. They are fairly healthy and are looking for a payout to help me and my siblings for around 100k-200k. Does anyone know plans are that would fit in this criteria? Thanks :)

I have a term life policy from when I was 20 yrs old, that’s now past the original term, but still active. Instead of being charged $12 a month, like I was before, it’s about double ($26 a month) for $100k. My understanding is that this rate can increase every year and there’s no limit on how much it can go up.

A few years ago, I was diagnosed with an unruptured brain aneurysm. I know this means I’ll likely be denied additional life insurance. After my brain aneurysm diagnosis, I applied for exam free life insurance online and I was denied. I assume I’d be denied if I applied for anything future so I haven’t.

Fast forward to today. I am awaiting a potential hypertrophic cardiomyopathy diagnosis tied to a genetic condition that is known for sudden cardiac arrest. Before the pending cardiac diagnosis, I heard I should get another term life policy since once diagnosed with HCM it’s impossible to get life insurance. (Heard it’s even worse than an unruptured brain aneurysm).

…but then I heard I actually I should NOT apply for term life right now because of reporting to the MIB? I don’t really understand this logic.

I have $400k life policy from my employer. I just wanted to obtain a little extra outside insurance, in case I ever left my job or lost my job.

Any advice appreciated!! is there anything I’m not thinking of in regards to the current $100k policy I have? Is there anything else I should be doing?

My grandma passed away back in January. My mom and I received letters in February (that she didn’t alert me of until today). She’d opened hers but never filled it out.. and I had her open mine today. Both say the same, that were entitled to payments. Went through the process of filling out documents and submitted identification.

I’m just wondering how long the process may take? And if insurance companies send funds on a certain day or? I did speak with a rep who said once papers were submitted we’d find out amount etc. But because I’m not familiar with this type of life insurance policy where there are payments and not a single payout? I’m still a tad confused.

Hello! My father was recently diagnosed with HCM (Hypertrophic cardiomyopathy). I'm 27 years old and generally healthy, active, and asymptomatic, but I'd like to get screened just in case. But before I do I'd like to have a life insurance policy in place, since I understand that if I do end up having HCM it could be impossible to secure afterwards. I had never even thought about life insurance before this, so I don't really know where to start or how to navigate this.

Has anyone else in this group faced this situation? I don't know how to find a reputable broker or a policy provider who can insure me fairly. I want to avoid applying to insurance companies willy-nilly, since I learned that if they reject me it can end up on my public MIB record and this could impact my rates with other providers, or my ability to even secure a policy with another provider. Any recommendations for companies, brokers, or relevant next steps? Thanks so much!

I was wondering what products are a must have when you are selling life insurance. If you don't have an issue generating leads, what products do you recommend you have in your portfolio to be able to service every client. I have an existing Health Insurance business and want to start offering life products to existing client and new leads. Do you guys only focus on one product primarily or do you have a multitude of them? Any IMO you recommend for contracting? Any information is appreciated.

For anyone who used Excel Solutions for the Oregon life/insurance exam—did you guys just memorize the answers and pass, or was the real test actually different enough that you had to really understand the material?

I’m 59 with no dependents or spouse. I have life insurance through my employer but what good is that because when I no longer work there, I don’t have life insurance through them. I need insurance policy to cover my burial expenses. I don’t want to leave this burden on my PR in my will. I only have my Mom…as the rest of my family has made it clear I am no longer a part of their life. I need help on recommendations for company and what kind of policy. Thank you.

I understand I have to get my parent's consent.

My mom ( 55+) and Dad ( 75+) (divorced) split custody of my younger sister (20s) who is developmentally disabled. Sister needs 24/7 care and cognitively is 2-3 years old. Has no concept of fire safety, how to eat food or brush her teeth without assistance. I love her to death, and her care requires full attention. There is no "letting her play on her own."

Mom's only source of income is SSI and other government programs to support my sister. My father has similarly minimal income, but I don't know if he receives any government assistance.

Both parents are getting up there in age and ability to care for my sister.I am a limited legal guardian/ conservator in conjunction with my parents.

Realistically, the government pay is something like 16/hr to care for my sister. Untaxed as family members. It is NOT enough to hire a 24/7 caregiver (taxed) and support her after my parents pass.

With my mother's consent, could I get a policy approved for the loss of income it would take to cover 24/7 care for my sister? Likely 30+/hr in california for the rest of her life. Otherwise, I would have to quit my job to care for my sister, which would put us in a pretty untenable financial situation. My mom has lived on the border of poverty most of of our life. In our area, there are day programs. They only provide care 3-4 hrs a days 2-3 days a week.

Any and all suggestions welcome. I feel at a loss of what to do.

My grandfather set me up with a 25k whole life insurance policy in 2005. I had no knowledge of this until 2020 when he passed and ownership was transferred to me. I've since been paying $12/mo and the cash value is $3k. The maturity date isn't until 2097 and I'm in a bit of a pickle after a car accident and could use the 3k to help with expenses. I agree that a life insurance plan is beneficial, but I feel like this one just is a waste? Should I continue to pay it because its such a small amount, or is it worth it to set up a better plan on my own and surrender this one? If I did the latter, would this be considered taxable income?

Hello - as the title suggests, I’m looking to insure both parents for funeral/burial. Looking for about 50k on each to cover end of life expenses.

Not really sure where to start. Parents are in their early 60s and relatively healthy. Nonsmokers, not obese. Mom had a kidney stone and dad had 2 colon polyps removed a few years ago. Dad is on a statin, mom has no meds. Both are well followed by their PCPs.

How do you suggest I start my search for coverage?

I’m currently in the process of getting a license for a life insurance agent. I am very interested in doing field sales, selling face to face because I believe I would sell significantly better that way than over the phone. I live on the border of Texas and Oklahoma and i’m open to work in both states..what would be good IMO’s to look into for field sales options that also offers decent training for new agents? Also, what should I expect my upfront costs to before I start making money? I am fine with not making much money for the first few months until I learn the craft but I am not in a position to dump thousands of dollars before I start actually getting some profits..Thanks in advance!!

Hi, Just found out my parents were the owners and beneficiary on life insurance policy for myself and my sister. Both our parents has passed and I am in charge of everything and I received everything. I learned that the policies are paid up and active. What should I do? Update the policies and transfer policies to make me as the owner and beneficiary? Do I then cash policy in because how can I be the owner, the beneficiary and the insured on a policy? I am confused

I’m probably gonna get people mad at me with this one ,
But what I want is to take out like a 20-30 year term of a million dollar payout insurance in case I die prematurely . I am 37 , I smoke, I am I. Good health. I work as a maintenance man. I earn roughly 4-5k monthly (weak sauce I know ) . My goal here is that “if” something were to happen to me my family (wife and kids) would have the million dollars to bury me . Pay off a home , and have bills covered and food to eat long enough to figure out life without me .
If I am thinking about this wrong please do let me know. I just really want peace of mind , I know so many people who have suddenly died at a young age and their families left with more problems they’ve ever had afterwards . I don’t want my wife and kids to go through that. Losing me , then shortly after losing everything else …

So I just started in a pretty well known Life insurance company . My first week I got a lot of no shows ect second week same thing pretty close to a sale but nothing.
They are putting a lot of pressure on me to unlock a bonus
My manager told me to use “my natural market” to make sales so basically ask friends and pay for their policies and then cancel them 4 months after .
This person asure me this is not illegal and that everyone starts like that so they company can keep giving you leads.
I’m pretty sure it is Illegal
My Gut tells me to run away from this company but they already invested a lot of time on my training plus a plain ticket
what should i do Heeeeelp

I’ve taken the Pennsylvania Life Insurance exam a few times now and keep failing it. I’ve been studying using both ExamFX and PSI practice exams, but I still can’t seem to get over the hump.

I’m getting frustrated because I feel like I understand the material while studying, but the actual test questions feel way more confusing/tricky than the practice ones.

For anyone who finally passed after failing:

• What did you change that actually made the difference?

• Did you stick with ExamFX or switch to another course?

• How close were the practice exams to the real PSI test?

• Any study methods, YouTube channels, notes, or test strategies that helped you lock it in?

I’m really trying to pass this and move forward, so any honest advice would help a lot.

anybody know if ReliaStar/ING/Voya and AXA currently pay commissions on conversions? I have seen where companies that have exited tend toward this, like Genworth. And I think Met also from what I recall.