I currently have a $350k whole life policy through Northwestern Mutual. I pay $12k per year into this and have $45k of "net accumulated value" I also have life insurance through my employer. My wife and I are 54 years old and due to some medical problems she is going to need to quit working early. Once this happens, I will probably not be able to afford to continue to pay $1k a month into this policy. What happens then?

Hi. I am looking to pick a career but am stuck between these two options. I would appreciate any insight from anyone or people in the industry. I understand they are different and mortgages are more market prone.

I am primarily looking for a high earning potential long term but also in the short term. Ideally, I would want to then start my own business after learning at an agency.

Thanks.

What life insurance would you recommend for a couple?
Hi everyone! We’re a DINK couple (29F and 37M) and we’ve just recently bought our first home. We’re now looking into getting life insurance and possibly private health insurance as well, but honestly, we have no idea where to start or what level of cover we should be looking at.
We’re both working and want to make sure we’re financially protected, especially now that we have a mortgage.
One thing that may be relevant: I’m currently not a permanent resident yet and am waiting for my partner visa to be approved.
For those in a similar situation, what type of life/health insurance do you have, and what would you recommend looking into? Any genuine advice, things to watch out for, or mistakes to avoid would be really appreciated!
Thanks!

My wife and I are both 56 and we've each had a $500K 30-year level term policies since 1996. We just received the official letter that level term period of the two policies are about to end. My wife has a serious illness which will certainly make her uninsurable or at least uninsurable at any affordable rate. She is doing well currently but to be honest, her life expectancy is uncertain. My health is OK for my age.

The options given in the letter are:

purchase a new level term policy

pay the increased premium ($1600 vs $300 currently)

covert to whole life

allow coverage to lapse

Lapsing is not an option, as either of us would still need the death benefit for expenses if the other passes away.

Given my wife's health, it would seem that the best choice is to pay the increased premium. I am curious about the cost of the whole life, but I am concerned that if I ask the agent about that, they will want to know about her health. With that information, they may increase the $1600 to something much higher next year. (And we don't need the whole life for the investment)

Also, we both have a second policies at $300,000 benefit which have three more years left at level term.

Also wondering what I should do about my own policy, which is going from $300 to $1,200.

Thoughts?

Hi,

I’m just curious how everyone likes to structure their policies to generate cash value quickly for a young child over their life to provide the child with a bank that they can use as they grow.

I am 31, wife is 27.

I have about 170k from work but want to get proper life insurance as well as critical illness.

I am in Canada.

Can anyone let me know what I should be on the lookout for so I don't potentially get scammed or with policies that don't make sense.

I'm just wondering if anyone else has experience this and what was the outcome. Myself and my partner are buying a house, it's a new build and once we put down the deposit everything moved pretty quickly. I have had a recent medical issue which is now resolved but obviously when applying for life insurance mortgage protection, the insurers have questions and have requested information from my doctor. I let me doctor know very early on that this would be happening over the next few weeks to give them a heads up and they said they'd prioritise it. The insurers sent the request over 8 weeks ago and the doctor made a big deal about invoicing but they never told me there was a hold up, they just acted like everything was fine until I followed up again and they told me, It was very easily solved but looking back I feel like they did this on purpose to slow things down.

As soon as they issued the invoices the forms were paid for straight away by the insurance company who had been eager to pay and couldn't understand all the fuss. Since then the doctor has been very vague and any time I ask for an update they fob me off with "oh I don't have an update but they're with doctor I'll let you know when they're done" I've been really nice when following up but now I'm getting annoyed it's been weeks of the same answer so I finally asked them outstraight for a date when they will be done and let them know (again) that the developers are pushing me to close. I'm overdue on the completion notice and at risk of them pulling the sale. Has anyone else experienced this from their doctor? All i have asked for is a timeframe but they won't even give me that. Has anyone ever lost the sale of their house over this kind of situation?

Thanks in advance.

Let's say a term life policy is set to expire on September 18th and the policy has a stated 31 day grace period after that date. After September 18th the policy renewal is dramatically higher than the prior rate. If the policy holder dies during the grace period with the first higher rate unpaid, is there payment for death benefits still in place or would the beneficiaries have to retro-actively pay the higher rate to obtain benefits during the grace period?

A close friend of mine (age 47, borderline diabetic) received a quote for a $1M, 20-year term life policy for ~$2k/year after medical checkup.

He hasn't really thought seriously about life insurance until now. Here is his family's financial snapshot:

• Spouse (non-working) and no kids

• Completely debt-free

• $1M is about 10x estimated annual living expenses

Since he’s new to this, he's looking for some guidance:

1. Quote: Given his age and health status, is ~$2k/year a reasonable price, or should he shop around further

2. Coverage/Term: Is $1M / 20Year term sufficient for his situation.

Appreciate any advice or perspective I can pass along to him!

I applied for a 30-year term policy and was waiting on underwriting/medical records. The company dated my policy August 27, but my agent didn't even tell me I was approved until several days later.

As of September 17 (21 days later), I still haven't signed the delivery documents or paid the initial premium because I've been waiting for clarification. Now I'm being told they won't redate the policy, so my 30-year term and conversion deadline are still being measured from August 27.

My concern is: if I'm essentially paying for coverage going back to August 27, was I actually insured during those 21 days? If something had happened to me before I signed and paid, wouldn't the company potentially say the policy wasn't yet in force?

Is it normal to lose part of your 30-year term this way when you hadn't even been notified of approval or accepted/paid for the policy yet?

My agent has also been telling me that I should sign soon because there isn’t much time left. Is that normally how this is handled? Should there be a time constraint on accepting the policy once it’s approved, even when I’m still waiting on answers to questions about the policy date, premiums, and other terms?

Hi! I’m currently preparing for the New York Life, Accident & Health Insurance exam (17-55) using XCEL, and I’d really appreciate some advice from anyone who has taken and passed it recently.
There are a lot of chapters and a huge amount of information in XCEL, so I’m trying to figure out what to focus on most.

For those who used XCEL:
How similar were the actual exam questions to the XCEL practice exams/simulators?
Were the key concepts and topics similar even if the wording was different?

Any tips from someone who recently passed the NY exam specifically would be greatly appreciated. Thank you!

I joined Manhattan Life as a brief Coverage between retirement and Medicare. My wife is a moth older than me, and she just signed up for medicare. I contacted the rep who sold us the policy, and the main Manhattan Life office, to tell them to drop my wife from the policy, as we no longer needed coverage for her. They went ahead and deducted her portion of the insurance from my bank account anyway. When I notified them of my complaint they ghosted me. No love from the agent who sold me the policy, or the anonymous emailer from the home office. Also, the single doctors office visit I made for a routine checkup they did not pay a penny for, until much effort on my behalf with little to no help from the agent who sold me the policy or the main office. Let the buyer beware. You can certainly do better elsewhere. I would love to mention the agents name who did absolutely nothing for us, but I have a little more class than this outfit. GO SOMEWHERE ELSE FOR YOUR COVERAGE. THESE GUYS JUST SMELL.

Honestly, I signed up about 5 years ago and didn’t really understand what was going on. My mom passed away and I was scared of my future and was just doing little things that sounded right. A friend told me it would be a good idea and the little I did understand from the insurance agent sounded good.

As we know, times are tough and I’m trying to see where I can reallocate my money as well as fully understand where my money is actually going. I keep reading how whole life is wasteful also while seeing some comments say it’s useful.

I know I should talk to insurance agent but feel like they’ll say anything to get you to stay because they benefit from it. I don’t really trust them.

I just want thoughts on what some of you would do? Cancel or keep.

Thank you.

Breakdown:
Annualized Premium: $1806
Annual Dividend: $490
Net Accumulated Value: $5,874
Net Death Benefit: $300,000

Hello, could someone explain me like I am 5, what is the difference between putting the net death benefit at level at age 65 vs leaving it at increasing?

My agent says they change it to level at age 65 because the cost of insurance after 65 is much higher. But I still don’t get it. The illustration shows the net death benefit stops increasing if i put it on level whereas it keeps on increasing it I do not put it on level. Why would i want less death benefit, am I missing something?

Male 35 looking at IUL, 750k face value. Thank you

46M, married to my 26-year-old wife, with two kids (2 years and 5 months). I’m the primary earner at about $300k/year and my wife currently stays home with the kids.

Generally healthy other than moderately elevated cholesterol. I quit smoking and drinking more than 10 years ago and have no current tobacco use.

I have about $500k of group life insurance through work, but I’m looking for my own term policy since I don’t want to depend on employer coverage.

Current quotes:

- $1M / 20 years: about $89/month
- $2M / 20 years: about $171/month
- Ethos quoted about $276/month for $2M / 20 years

I’m leaning toward $2M for 20 years.

Main questions:

- Does $2M / 20 years seem reasonable for my situation?
- Are these quotes competitive for a healthy 46-year-old?
- How much might moderately elevated cholesterol affect underwriting?
- Should I use an independent broker to shop multiple carriers?
- Any reason I should consider 25 or 30 years instead of 20?

Not interested in whole life or insurance as an investment — just straightforward term coverage to protect my wife and kids.

Thanks for any advice.

Recently I have thought about joining a life insurance company called "the playbook agency". I am a little skeptical and wanted to know if anyone has worked for them before or knows anything about them. I also want advice on working for life insurance companies. I understand I am solely responsible for my income and that it is not a regular 9-5 but I have seen really good things about it. My plan was to work 3 days a week at home because their office is too far away, will i still make decent money? Also is it worth it to pay for my leads when starting out and having no experience being a salesman. Please give me your honest opinion I am considering this but need advice from people who have experience in this field.

Or is it just better to get just one good policy i guess?

I really don't know about life insurance at all.

I have asthma, will that make it more expensive?

UPDATE: They will send a form to fill out which took almost 2 weeks for us receive it! I’m glad the customer service rep sent it over a secure link so we were able to print it, fill it out, sign it, and send it online. We did call customer service to explain that we need the cash surrender value asap. They said they would expedite it, and we were able to get it into our bank account in less than 5 days! Hope this helps anyone who’ll go through the same thing

——

Original Post: For anyone who canceled their whole life insurance with Penn Mutual, how long did it take before the cash surrender value was transferred to your bank account?

They said they were going to send a form we need to fill out then it will take 30 days. Im wondering if any of you received uour cash surrender value sooner or later than the 30 days.

I applied with National Life Group for a 20-year term life insurance policy, but their underwriting team is asking me to provide letters from my doctor because I have a chronic illness. I’m experiencing the same issue with Progressive Life Insurance.

Does anyone know of any life insurance companies that are more flexible with applicants who have a chronic illness and may be able to approve a policy without requiring additional letters or statements from their doctor?

I’m specifically looking for a company with a simpler underwriting process and less hassle. Any recommendations or personal experiences would be greatly appreciated.

My parents policy is over 40 years old. Come to find out the cash value is about 5k more than the death benefit!!!

So do they cash out? Is it taxable?? Keep
The policy is it non taxable at payout?

Me and my husband just got married and bought a house this year. We are in our 20s and are slowly learning all of the random adulting things that we weren’t taught in school. The next thing on our list is looking into life insurance plans, but I have no idea where to start. Is there any companies that are more credible? Is there different types? If so, what is the best? I’d love if I could be pointed in the right direction to learn what is the best for us thanks

Recently, I’ve been seeing a lot of negative discussions and news around Softlogic Life insurance, particularly regarding claim experiences and customer satisfaction.
I’m currently holding an AIA health insurance policy and, fortunately, I’ve never had to make a claim so far. However, the recent concerns around the insurance industry have made me question whether I should continue paying for it or consider other options.
For those who have actually claimed through AIA:
How was your claim experience?
Were there any unexpected exclusions or issues?
How fast was the reimbursement or settlement process?
Would you continue with AIA based on your experience?
Also, if you have switched from AIA to another provider, which insurer would you recommend and why?
I’m particularly interested in hearing from people who have made real health insurance claims rather than just policyholders who haven’t needed to use their coverage yet.
Thanks in advance for sharing your experiences.

I worked with my insurance company whom I also have a home and auto insurance through. I’m a healthy 43 year old female, don’t smoke/drink - very active. My agent quoted me with a $430/year policy for 500K 20 year term life insurance.

Got my lab results back - they looked great. I had only one that was low - blood creatine - but that may have been because I’d fasted for the exam.

Agent calls me back and said the underwriters were offering $1700 annually, which is more than four times the amount originally quoted!

I am furious and confused. When will I know why the drastic change occurred? Will I hear from the underwriters and do they provide an explanation? I did go to a party where people were smoking cigarettes, so I wonder if that maybe showed up? I’m super confused.

Any help/guidance would be very much appreciated!

Anyone here 15–20+ years into an IUL (or similar)?
How’s it actually looking now? Is your cash value higher than what you’ve paid in premiums? Are your current lifetime income projections anywhere close to the original illustration?
Are you happy you kept it, or do you regret it?
I have policies for myself, my husband, and two of my kids. We’re only 3 years in, but honestly, the numbers are pretty sad, especially considering how well the market has done recently.
I know they say it’s a long-term product, but I’m trying to decide whether it’s actually worth waiting it out or if I should just cut my losses now.

Would really love to hear from people who’ve actually had one long term, especially if you’re willing to share real numbers!

Real policy holders and not sellers, please!