Shopping for Term Life Insurance

prasads · Post by **prasads** » Wed Jun 02, 2010 7:41 pm

Wife and I have insurance with our employers for about 2.5 times of our annual salary. We would like to get term life insurance in addition to this. we have two more years before R2I. Me in early 30s and wife in late 20s both USCs, she is OCI. We are shopping for term life insurance and will appreciate your inputs to the following and anything else we missed

1. Seems like there are many institutions selling term life insurance. Any suggestions based on your experience which ones are the cheapest? e.g for the sake of mplicity, going with same provider as auto insurance, banking etc

2. Can we carry over the insurance to India? I heard from some sources that one cannot insure for very large sums of money in India if there are no assets to back with. My concern is here we can get term life for 1 million but back home we dont have assets nor dont think we will be in the income group to get 5 crore policy.

sanjosedesi · Post by **sanjosedesi** » Thu Jun 03, 2010 4:15 pm

prasads;2931811. Seems like there are many institutions selling term life insurance. Any suggestions based on your experience which ones are the cheapest? e.g for the sake of mplicity, going with same provider as auto insurance, banking etc

My wife got pretty good rates from state farm with medical checkup. Since I did not, we picked up AAA which did not require a health checkup, and was overall less expensive.
For your age group, and assuming both of you are healthy, you should be able to talk to your auto insurance company, or any other.
Going with your auto-insurance company -- the multi-policy discount usually gives a discount on Auto, not on TERM ... so when you R2I (or even before), you lose the notional benefit.

prasoum · Post by **prasoum** » Thu Jun 03, 2010 10:10 pm

Is term life insurance only available to USC? What about other folks..Folks on EAD etc..Thanks.

sanjosedesi · Post by **sanjosedesi** » Fri Jun 04, 2010 6:49 am

prasoum;293627Is term life insurance only available to USC? What about other folks..Folks on EAD etc..Thanks.

Call them. I got it on GC, well before USC.

gopinathpc · Post by **gopinathpc** » Fri Jun 04, 2010 9:50 am

prasads;293181Wife and I have insurance with our employers for about 2.5 times of our annual salary. We would like to get term life insurance in addition to this. we have two more years before R2I. Me in early 30s and wife in late 20s both USCs, she is OCI. We are shopping for term life insurance and will appreciate your inputs to the following and anything else we missed

1. Seems like there are many institutions selling term life insurance. Any suggestions based on your experience which ones are the cheapest? e.g for the sake of mplicity, going with same provider as auto insurance, banking etc

2. Can we carry over the insurance to India? I heard from some sources that one cannot insure for very large sums of money in India if there are no assets to back with. My concern is here we can get term life for 1 million but back home we dont have assets nor dont think we will be in the income group to get 5 crore policy.

If you live in California I can help. I am a registered financial advisor and can assist you with your needs.