Best life insurance policy ?

Discussion in 'Emergency Medicine' started by Angry Birds, Aug 20, 2017.

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  1. Angry Birds

    Angry Birds Angry Troll 5+ Year Member

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    What you guys recommend?

    I saw this from the AMA, but it only covers accidental death or injury. Yeah, what if I just... die?
     
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  3. The White Coat Investor

    The White Coat Investor AKA ActiveDutyMD Partner Organization 10+ Year Member

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    I've written an article about how to buy life insurance. It isn't complicated. Basically, get an online free instantaneous quote from one of several places then go to an independent agent and have the policy written up. Do the physical. Go back in two weeks and sign the policy. Voila-you're insured.

    But don't buy it from your professional society and certainly don't buy just an accidental death policy.
     
  4. TimesNewRoman

    TimesNewRoman 2+ Year Member

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    Life insurance is simple. It's all about price as long as you're buying the right kind (term, level). Figure out what you need, then get as many quotes as you can. You don't need accidental death and disability. Why would your husband/wife need more money if you die from an accident vs. not an accident?

    Figure out when you will achieve financial independence, then figure out how much you will need to pay off your mortgage, student loans, put your kids through college and let your spouse live off of until that time.

    I'm a fellow. I have a level, term policy for 10 years. When I graduate, that will be 8 years old and I will add a 20 and 30 year policy with each of the three policies being equal amounts, because I will need less as I move closer to financial independence. I will never add another policy after that. That staggered amount should work well for my family. I would prefer to have all of that in place now, but my wife and child would be fine with why is currently in place. If/when I have the mortgage paid off, kids college saved for and am approaching enough to retire, I will start peeling them off.
     
    WheezyBaby and Angry Birds like this.
  5. sb247

    sb247 wait...you mean I got in? 5+ Year Member

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    Galt's Gulch
    i've tried pushing some friends away from whole life and despite most everyone (wci, ramsey, clark Howard, etc) advising against it I just can't seem to get through to them

    Term, level......it's literally that boring

    Any advice on talking sense to people?
     
    Dr.McNinja likes this.
  6. Raryn

    Raryn Infernal Internist / Enigmatic Endocrinologist 7+ Year Member

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    Physician
    I've given up. Anyone talking about whole life gets a "that's interesting, but it's not for me. I think I've read about how it might not be as good a deal as it sounds", a link to WCI's website if they want to read more on their own, and the subject dropped.
     
    sb247 likes this.
  7. TimesNewRoman

    TimesNewRoman 2+ Year Member

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    May 14, 2013
    WCI actually just had a post about what I described.
     

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