I'm about to turn 50, in great health and recently married - what's my best choice for life insurance?

I suggest buying a 20 year term. Its cost effective and you can buy lots of coverage for low amount of premium. Since premiums are low, it gives you room to invest your money in a saving plan of your choice (whether its IRAs, 401k, etc).

Then you want to add a spouse rider to the policy. That way you and your spouse won't be paying for another policy if you were to buy them separate. Each policy cost about $100/year.

If you were to die, your beneficiary will get death benefit plus your investments.

I would agree with the people who said to go sit down with an agent.
I would disagree with the people who suggest term insurance. I assume you intend for this to pay final expense and provide some income if you or your spouse were to pass before the other. With you being in good health it is unlikely that you would pass away before the 20 or 30 year term expired, and then there would be no insurance for final expenses. People are living longer and longer and many are living into their 90s and even to 100. Term is not a good option for someone only half way through their life.
You could look at some type of permanent policy for you and your husband. Many policies would allow one of you to be primary insured and the other to be insured by an additional insured rider. Many times this can be a more cost effective option than having two policies.
If you can't afford the permanent and do decide to go with the term, make sure it has an option to convert to permanent later if some health issues were to come up that would prevent you from obtaining new insurance.

My husband is 57 and I'm 46 and we got insurance through AARP, I got it because he was old enough and there is no exam.

Join the "Knights of Columbus" believe it or not

Congrats on the recent marriage!! Awesome!

It sounds like you are ready to learn more about life insurance and make an informed choice.

Based on your information I would suggest you consider a 20 year level term life insurance policy at the coverage amount that meets your needs. That should provide you with the greatest amount of protection at the lowest rates. Your rates will remain the same for the entire 20 year term. Your coverage will stay the same also.

However, when you outlive your policy (here's hoping you do) your coverage will expire. So you may or may not want to buy a new policy at that time depending on your situation. If you do need more coverage it will cost more based on your age at that time.

Now, how do you get the best term life insurance quote.

First, you have to understand that the internet has made it so easy to compare quotes that many insurers have lowered their rates in recent years. Also, many of the quote providersвЂ™ web sites have agreements with the top rated insurers offering the best rates. So, when you go to a respected web site and request a quote вЂ“ youвЂ™ll get instant side-by-side comparisons from many of the best insurers with the best rates available online.

Where Do You Begin?

There are consumer review sites that mention the top rated quote providers online. These top sites include: ReliaQuote, AccuQuote, Insure and Term-Life-Online.com.

First, decide why you need the coverage and for how long. Then, determine how much life insurance protection your loved ones need. Use a life insurance needs calculator (they are available at life insurance web sites) to determine the right amount of coverage.

Select a web site mentioned above and go to their quote page. This should be clearly stated on their web site. You answer one set of questions, one time and they give you easy to understand quotes from top-rated insurers. The quotes shown will be the lowest available from that service based on your information.

Also, the quotes should show the financial rating for the insurers. A.M. best is a financial rating service that reviews and rates the financial strength of insurers. You may want to choose an insurer with an "A" rating from A.M. Best to be safe.

Next, make sure your quotes are for the coverage you need. The most common type of term life insurance is Level Term Life Insurance. An example would be a $100,000 policy for 20 year Level Term Life Insurance. This means you pay the same premium each year for 20 years. If you die before the term ends, your beneficiary receives the death benefit of $100,000. If you outlive the term, your policy expires. If you need coverage at that time, you will need to purchase another policy вЂ“ usually at higher rates based on your age at that time. However, you may or may not qualify for coverage if you are in poor health.

Helpful Tips

Next Higher Coverage Limit вЂ“ If you need $178,000 of coverage, compare quotes for $200,000 as well. You may find the higher limit of protection doesnвЂ™t cost that much more.

Your Current Age вЂ“ One factor that affects your rates is your age. Buy coverage more than 6 months before your next birthday if possible. Some insurers set rates based on the age you are nearest. That means your rates may be lower at 25 years and 4 months than they are with the same insurer when you are 25 years and 7 months old.

Premium Payment Plan вЂ“ If you can afford it, choose to pay your premium on an annual basis вЂ“ if they charge you more when paying on a quarterly or monthly basis. This may save you some extra money on your life insurance premiums.

Buy Early вЂ“ The sooner you buy coverage, the cheaper it will be. Your age is a factor in determining your rates. The older you are, the closer you are to your life expectancy вЂ“ so, the higher your life insurance premiums. Younger people are not expected to die soon, so their premiums are lower. Also, your health may change and you may not be able to qualify for life insurance coverage in the future. Or, the premiums may not be affordable.

Important Note: Always make sure you get guaranteed rates. Level term insurance offers you guaranteed rates for 10, 15, 20 or 30 years. So you know your rates will not increase during the policy period. Also, you may want to get a guaranteed death benefit that will remain the same for the entire term of the policy.

Finally, when comparing quotes to get the best term life insurance quote available, make sure you get the amount of protection your family needs at a price that you can afford.

If you have any question you can call or email the quote provider or insurance company and ask for a reply in writing to any/all questions you have. Make sure you understand your policy before you buy.

I hope that helps, and best of luck!

Source: http://www.term-life-online.com

You have a lot of options. I would sit down with an insurance agent, either one recommended by a friend or the one who writes your auto and homeowners insurance, and discuss what you wish to get from your policy.

I wouldn't recommend the agents at banks because insurance is not their priority and they expect (although do not require) you to open some kind of substantial account with them.

I agree with the other answerer that at this point in your life you would do well to purchase the longest term you can afford. However, if you own a business or if you are health and your spouse isn't, there are other types of policies that you should look at. That's why I recommend "sitting down" with an agent. One of the first things they should do is a "Financial Needs Analysis" or something similar. If they don't ask you about all your current income, debts, property owned, and future plans, then I would doubt that they have YOUR best interest in mind.

You don't say if you are male or female, but on the assumption of male, I'd say 20 or 30 year term. Life insurance is not meant to be an inheritance, it is to help cover expenses if you die too young. By the time you're 70-80 years old, you aren't going to have anyone left to be supporting. If you were a little younger I'd recommend some type of flexible universal whole life which can also help to provide cash on the chance you go the other way and live too long, but its probably getting cost-prohibitive at this point (no offense- I'm not a spring or even a summer chicken myself). It will probably be more affordable if you are female. Talk to a REPUTABLE agent in your area. Don't go with "Insurance.com" or "800-INSURANCE" type policies. The whole thing you're paying for with insurance is service- make sure you get it.

there are lots of options. if you ask at your bank, many banks have specialized insurance representatives (they are licensed) and they can explain your options. www.suntrust.com

ditto on not going to your bank.. need to find a specialist.....

as far as life ins. not being an inheritance... i don't agree....

true it is vital for someone supporting a family first and foremost..
#1 reason to buy.. but if u love ur wife then you will get some
life ins. if in the event you decease before she.. there could be a huge possibilty that she will lose a big part of income... (w/out knowing ur financial situation i cannot expound) however, i am referring to ssi, pensions, investments, etc..

and u may want to leave additional $ to other family members, charities, religious affiliates, etc...

sounds like you do.. so find yourself a good agent that has been in the insurance industry for a long time.. be careful who u work with some people push unecessary products.. weigh out all your options.. term is fine and since your in good health you shouldn't have any problems finding coverage..

good for you for thinking about your new wife...
she should also purchase a policy and make you the primary beneficiary....

may you enjoy many happy years together....

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