Life Insurance, any suggestion?

I have a stable income now and i wanna to do a little investment to secure my life. i heard life insurance would be good for first step.
There are so many options out there, i have no idea which company is good or how to choose my plan ? Any Suggestions?

my suggestion is you read up on it, then choose according to your situation.
More info here
http://www.simplyinsurancequotes.com/Life-Insurance-Explained.php
http://www.simplyinsurancequotes.com/links.php

First thing you should know that life insurance is not an investment or a savings plan. Though it is an investment on yourself, meaning you are protecting your income in case something happens to you. But life insurance is a tool that can replace your income if you were to die. There are several types of life insurance out there, but the one I have is a 30 year term insurance. Its inexpensive and you can buy lots of coverage for a low amount of premiums

If you are looking to invest for the future such as retirement or for your kid's higher education, you should invest in mutual funds. If you don't have a retirement plan, you should open an IRA and try to max out the contribution limit every year. (For the year 2009, its $5000.) For education savings plans, check out Coverdell or 529 plans.

Life insurance is a good idea if you have dependants who rely on your income. The best time is term insurance which you have only for a certain amount of years. The idea is that after the insurance is up you should have enough in retirement assets to pay your spouse and children to live without you.

Life insurance is not suitable as a financial investment. The purpose of life insurance is to protect those you leave behind if you die.

Ya, as others have said...it's not meant for/good as an investment tool. I'm guessing you're in the 20-40 range, so term insurance is probably the best insurance for you. Grab a 10/20/30 year term policy so if you end up getting married, having kids, etc they'll have money if you die prematurely.

Life insurance is NOT NOT NOT an investment. It's for if you DIE.

If you want to "lose" 90% of what you put in, THAT'S the type of "return on your money" that YOU will get.

If your goal is INVESTMENT, then life insurance isn't the right tool. If your goal is, a big fat payout to raise your kids if you kick off suddenly, then life insurance IS the right tool.

DEFINE THE JOB. Do that first. THEN, pick the tool. AND, always, always, always run the numbers. ESPECIALLY if someone is trying to sell you life insurance as an investment.

Life Insurance is not an investment.

Whole life, Universal Life and Variable pay big commissions for agents. So, it is more beneficial for agents to sell you these policies. It is money more in their pocket and not in yours.

Universal & Variable life come with big loads right off the top. Then the cost of insurance goes up on them every year just like the annual renewalable term. It is a big Rip off.

Find an honest agent. Take a level term for 20 or 30 years. I used to recommend 10 year but now I know that 10 years goes by so fast that you need want a level premium for 20 or 30 years. And, rates are so low that it is affordable. It is like car insurance, just use it or lose it and hopefully you do not need to use it. Term insurance is cheap.

Invest some money in a real investment., not life insurance.

If you need insurance then look to insurance. If you're looking to save money you could do better with a savings account. Identify what you're doing first then decide what to do.

You cannot make the blanket statement that a certain type of insurance is the best for this person. Term insurance is a fantastic product, its inexpensive, if your young and healthy 1 million dollars of coverage can cost somewhere around 1 thousand dollars per year. If you are young and have dependants and not a lot of disposable income this is most likely the perfect product. In general there are two types of term insurance, annual renewable increasing premium and level premiuim. Annaully renewable insurance has no fixed price. the price increases each year based on your age. In general you can only renew the insurance untill age 75. Although it becomes much to cost prohibitive well before that. If we use the same example of a million dollar policy that might costo someone in there 20's 1 thousand dollars per year, by the age of 75 it could cost well over 50 thousand per year. The level policies are usually for 10 or 20 years, they take the projections of what you would pay on the AR insurance durring that period and average the costs for each year. Again in general you cannot purchase a level term policy that will run past age 75. These two types of policies will serve the needs of the majority of the public.
However, there are many cases where whole life insurance would be the best fit.

Whole life insurance lasts for the life time of the insured, the death benefit will be paid out whether the person dies tomorrow or 100 years from now. It is however much more expensive, the same million dollar policy might cost 10 thousand dollars per year however, it never increases. Typically whole life policies earn cash value and pay a dividend each year. The cash value is the amount of death benefit that can be accessed through loans on the the death benfit while the person is still alive. For instance if one has 1 million dollars of coverage and 10 thousand dollars of cash value, and that person borrows 5K out of the policy, when the individual dies 5K is subtracted from the death benefit along with any interest that has not been paid. Each year a portion of your premium goes to paying for the costs of the policy, the rest is invested in the insurance companies general portpholio. The dividend is based on the amount of money you have put in the general portpholio. Insurance companies take out 90 percent of the costs of your policy in the first 3 years so your dividends will be very small, however after that time nearly all of your premium will go into the general fund so your dividend will increase. Using the dividend wisely is what can make whole life insurance an effective tool in building wealth. If you reinvest the dividend each year you will build up your position in the general fund as well as your cash value each year much quicker, thus earning larger dividednds, eventually the dividend will be large enough to pay for the premiums by itself so you will have a completly funded insurance policy and you will still earn cash value each year.
I will cautious you that not all insurance companies are created equal, the first thing you want to know is if the insurance company is public or mutual. Mutual insurance companies are required by law to distribute 90% of thier profit to their policy holders in the form of the dividend. Public companies have a duty to show a profit to their shareholders so they do not have the same restrictions and thus there dividend is less each year and the cash value does not grow as quickly. Assuming that you would go with a mutual company you would then want to look at how efficiently it is run since your divided is based on their profits. The main factors are mortality rate of the insured, administrative costs, perfomance of the general protpholio and stability of the returns on the fund. The mortality rate is the percentage of the insured that die each year. If a company insures healthier people then they pay less claims each year and have more profit. If the administrative costs are less then they have more profit. If the performance on the fund is greater then they have a greater profit. As a former broker there is one company that is head and sholders above the rest. In an effort to not show favor I will give you my top three in alphabetical order. They are Massachusets Mutual, New York Life and Northwestern Mutual. These companies have in my opinion the best products, you will need to consult an agent and not all agents are scrupullous so ask lots of questions and email me if you are having trouble. Also make sure to see projections on your policies at dividend rates that are lower than the current one so that you can see what will happen to your policy in the event of a economic downturn.

There is also a type of whole life called variable. It is essentially the same except that you choose the mutual funds that you want your funds invested into. I will caution you that most mutual funds do not beat the market and all you are doing

allstate has great prices for life insurance ask about a variable universal life insurance considering your in good health this policy can help you achieve your financial goal while insuring your family's future and if after you have built enough cash you want to continue your coverage you can keep it. ask for a projected illustration adding 100 an 200 dollars over the safety gap i wouldn't recommended unless i had one myself

Great Blog LOL

What happens when your Rule of 72 gets thrown off by the 5% loads on your mutual funds? What happens to your theory of decreasing responsibility when the market tanks like it currently is? In other words, if someone took out a year term, 30 years ago and just lost most of their retirement, how would the family pay for burial?

Never take financial advice from someone who thinks interest rate doesn't matter.

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