Need a licensed Insurance broker to go over potential coverage

[resjudicata]

38/M looking at getting a policy for the first time in my life for family members. New to the game entirely. NOT looking to stick with my employers insurance which only covers if something happens WHILE working.
I am in great health but looking for something that would cover if my health started deteriorating, down the road, for instance and meant I could not keep working that would not get cancelled. Thanks

 

[adoptedwatcher]

@resjudicata A common option with life insurance is a waiver of premium if you become disabled.

 

[seekeroftruth0]

@resjudicata Sounds like you're talking about a policy that would cover you in the event any critical, chronic, or terminal condition.

I don't know that I would necessarily recommend a whole life policy as much as a term policy with living benefits that has the option to convert to whole down the road, if needed.

This would by far be the most cost-effective option!

 

[genebgto]

@resjudicata

1. Most employers have a voluntary life insurance option which can be ported after you end working with them.
2. It’s best to get your own term insurance policy. 20x your annual compensation for 30 year term.
3. You might also want to look at long term disability insurance and critical illness insurance coverage if you don’t have them through your employer. They are generally expensive though

 

[longroad]

@resjudicata Based on your description, it sounds like you want a permanent policy. I would not recommend term as when the term is over, it’s not really canceled but the cost to keep it in force may be unrealistically high.

On the permanent side, I would recommend whole life. The premiums will not increase on you. You can also have the ability to overfund the policy as well.

There are other styles of permanent insurance which may have a chance for initially faster cash value growth, but could also have increased premiums down the road to keep them in force as well.