I am looking for a good company to go to for life insurance. What company doesn't increase their premiums?

I just received my yearly premium from Chase Insurance. It has gone from $354.00 to $1759. It only stayed the same for 5 years. Now it will go up each year. I am looking for a company that will give me a policy that will not rise every year. Can you recommend a good company to go to, I am looking for a life insurance policy for $50,000.00.

Why do you need life insurance? I don't know your situation, but lets say you are married, own a home, have kids, and have some consumer debt such as credit cards. You probably don't have lots of money saved, so the need for life insurance is very high. In later years, your kids move out, your mortgage is paid off, and you shouldn't have too much consumer debt. You are retiring and you better have lots of money saved. So the need for life insurance is low.

There are two goals you should have in mind right now.
1) Protect your family's assets now since you don't have much saved.
2) Accumulate wealth so that you don't need life insurance anymore or as much coverage.

Life insurance will provide income to your family in the event of your death. Saving your money somewhere else such as bank accounts, IRAs, 401(k), mutual funds, bonds, etc will build wealth for you.

No one knows your financial needs right now. $50,000 coverage seems a bit small. I don't know where you live, so $50,000 may be enough if you live in a very rural area. If you live near a metro city such as New York City, $50,000 is definetly not enough.

I have always sold 20-35 year term insurance. All the other types of life insurance makes no sense because they bundle insurance and savings together. At the same time, I set up an investment plan for them. I have them open an IRA account and recommend what they should have in it. If they have an IRA account, most of the time I can find better investments that has lower expenses and have higher rate of return.

If you invest $200/month for the next 20 years in a mutual fund that has an average 10% rate of return, you can potentially have $153,140. In 30 years, you can potentially have $455,865. I'm being very conservative with 10% because the average rate of return on mutual funds I offer ranges from 9-15% in the past 10 years. You don't have to put in $200/month into your IRA account. You can put in as little as $25/month if you don't make much money right now.

When you buy a new life policy, you want to read the policy right away. You only have certain time limit (about 1 to 2 weeks) to read it and then decide to cancel it and get all your premiums back.

I work at Primerica Financial Services and the things I mentioned is what they do for families. Besides providing life insurance and investments, they also help families get out of debt, and create a financial plan to reach whatever goal the client has.

OK, when you buy a 5 year level term, it stays level for 5 years. If you buy a 20 year level term, it stays level for 20 years.

It's not the COMPANY that's the problem, it's the PRODUCT. If you want it level for your whole life, buy WHOLE LIFE (of course, it's generally a rotten deal, but hey, it meets your goal. You'll pay the rate of a 70 year old even when you're 20.)

What you REALLY need, is a good, honest, local agent who will shop out for you, and compare products and pricing.

The only product that will stay level in premium and will pay the same or increasing benefit is an old product called whole life.All other life insurance is Term insurance and will increase in premium at renewal time. The earlier in life that you purchase whole life, the lower your premium will be. There are many options available to cut your premium payment time but talk to a qualified professionaL

Search 'life insurance'. Talk to a couple of agents. Many have a search engine and can find the lowest rate for your age and needs.
Buy the longest term plan you can.

The concept of 'Buy term and invest the rest', pretty much failed. People didn't have the persitancy neccessary to voluntarily invest money every month if they can skip without penalty.

If you want to leave the $50k whenever you die, then you need universal life. The premium is fixed forever or until 100.

Mariebgz,

The only insurance policy where increases in premiums are customary are "Term Insurance Policies". The premium is recalculated at the end of whatever term the particular term policy you purchased is to renew; 1 year, 5 year, 10 year, 20 year. Premiums are based on your attained age at original purchase and when renewed. Health is only an issue when originally purchased.

Level premium insurance policies are variations of "Whole Life" policies.

Term policies are inexpensive at young ages; they become prohibitive in price as you age. Whole life policies are also based on the age when you buy it, however, the premium remains level until age 100 or prior death.

All major insurers sell both term and whole life insurance.

once you purchase a term or whole life policy that premium should never increase who ever sold you a variable policy was wrong in doing that check out globalwideinsurance. com for more help

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