If there is a supicious death it will not pay out until they figure out who the killer is 
But Nicole Brown Simpson’s killer is still unknown.
All insurance has a negative expected value. Only insure against events that would be devastating if they happened. Once you’re past a certain net worth dying isn’t so devastating.
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Term like everyone said.
Even more reason to have it if your health metrics are shit. I had an easy physical and a redic cheap policy as long as I don’t intensionally drive the Porsche I can’t/don’t want to afford off a bridge the fam is set.
Big YES!!! If you’re in really good shape then i would definitely lock in a 20/25 term policy with at least 10x your income. I actually spend a year doing hardcore exercise to lock in a 30yr term policy…
show us your carrera gt
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Strong 21 tundra 38 months now haha
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Any recommendations for good life insurance companies?
If you’re young and healthy you can also lock in a rating now buying term and convert to a permanent policy later… though it depends on the company for conversion privileges.
Happy to quote anyone if anyone needs help getting coverage. I have access to dozens of companies. Not sure if I need to register as a broker here to offer that lol.
Northwestern Mutual
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Are self-employed or have an employer? Most corporations have group policies you can tap into to start with. Maybe look into your employee benefits, if you have them.
I’m self-employed so I’ll have to find a policy on my own.
Lots of solid advice here. Somewhat similar situation. I have always had a small term policies given as part of benefit package by employers. I also had a variable whole life policy that was started when I was a child. I wish I would have understood this policy in greater detail and life insurance in general at an earlier age. I requested an in-force illustration of the whole life policy and it was so eye opening. The policy premiums absolutely skyrocketed as I aged, like tens of thousands of dollars per year. I cancelled the policy and started a term policy. Check out term4sale website for an idea of prices, also consult an insurance broker in your area, they do not charge anything to find a policy. My thinking was I just wanted a policy to bridge income loss until we are close to retirement age. I’m 42 and started a 15 year term, I figured once I’m 57 I’ll have enough cash / retirement assets to tap into in the event of my death and my children currently 14 and 12 should be well established and hopefully have some independence and careers of their own. The broker who found me excellent rates with Erie Insurance for home/auto wasn’t all that competitive with the term policy. There was a number of reputable companies on term4sale, I decided to start a process with Thrivent for $39.99 per month quote for 750k term life, this was assuming the highest qualified rates. It was really straight forward, I did an application, was assigned a “Virtual advisor”, they were super helpful, straightforward and no upsells. I then had a recorded virtual interview about my health history, lifestyle, etc. They told me that may end there or I may need to go do a physical and lab work. I did not need to do that and qualified for the best rate, but I have a pretty boring lifestyle outside a little travel abroad, no chronic health issues and have normal vitals and have a healthy weight/BMI. For $40 a month it’s a no brainer peace of mind. You may also want to check into long term disability coverage as well, I do opt for this additional coverage through my employer for the same reasons I purchased a life policy, my family could not maintain our lifestyle without my salary. In the end, the policy is there for risk mitigation, only cover as much as you think you need and for as long as you need. I’m sure there is some fringe cases where whole life policies make sense, but I would only enter in one if I advised with a fiduciary that recommended it, most investment professionals push these policies as they are lucrative from a commission standpoint. The policies, at least the one I used to have was extremely complicated/complex and difficult to understand. For anyone that has a whole life policy I highly, highly suggest requesting an “inforce illustration”, you can have it model hypothetical returns but the real eye opener is exposing all the fees/expenses and surcharges that can increase over time.
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Question is do you tell your wife you have a $5 mill policy on yourself? 
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Any of the big mutual companies
Mass mutual
Northwestern mutual
Ny life etc
Many of the brokers for these companies can actually sell across brands. One observation is a good bit of them do what’s easiest and what they know, but don’t necessarily recommend the best option for you. Ie they may just sell you a simple policy but not discuss (or really understand) a paid up rider while avoiding a mec etc
Agree w everyone that term is cheap, even at your age (im 36 and just renewed), so get a lot of it if you like your family. The chances of you dying in the next 20 or 30 years are rather low. So your cost is still going to be low on either a 20 or 30 year term.
I also have a good bit of whole life that I took out when I was 23. And, got some for my kids. It has a cash value and you can take loans from it later in life (if needed) while maintaining the death benefit.
Happy to go against the grain. There is no overwhelming research view that life insurance makes sense. It tends to make more sense (when it does) for people who don’t have much in the way of savings or investments.
And to remove any emotion, there are a ton of calculators out there that help you decide if it makes sense.
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This is horrible advice for anyone with people who depends on them. Unless you have enough saved to pay your mortgage, fund your kids college and retire comfortably today in the event of a lost income… which few do, then life insurance is a no brainer. Especially if you’re healthy and young and paying less than $20 a month for a million dollars of coverage.
I’ve delivered claims for life insurance, grieving beneficiaries tend to need the help.
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