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  #31 (permalink)  
Old 02-20-2007, 12:54 PM
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hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts
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I think what Godbless bought was Universal Life Insurance policy where the Company invests in Mutual funds etc. but that has lots of finance charges and hidden costs. Traditional Whole Life on the other hand has no such thing because by law the company can only buy bonds, govt securities and Mortgages only. Hence the return on Traditional Whole Life policies is low (5-6%) but they are safe and do not have hidden charges and infact insure you at a fixed cost for whole life hence the premium never changes and policy cost to the insured remains fixed while the cash value is an added incentive for the long term. It's like putting money in bank and earning some interest but having a life coverage at the same time for not just 20-30 yrs but uptil 98 years of age. I have a few family members who are insurance agents and they always recommend Traditional Whole Life if you have good income and patience to stay long. For all other folks Term is the best but note that when you retire at 60+ and have built immovable assets then to cover the risk for them you need to have some Life insurance policy and getting Term at that age is like walking on fire. Nobody gives Term after 65+ and even if they do so then the premium is very very hefty which can be a good turnoff.
So, it all depends on your priorities and situation. 95% of US Citizens / PRs with above average asset values & income buy Traditional Whole Life policy because they are living longer and working longer and building assets well into their 60+. Term provides good & cheap coverage for young people but only for max 30 years period. After 60 + people are in soup again without Traditional Whole Life coverage.
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  #32 (permalink)  
Old 02-20-2007, 05:25 PM
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kuppas is on a distinguished road
Default Life insurance for H1

I have been doing the same research for the past one month, here is my experience.

1. Termlife Vs Wholelife.
Term is better than whole life. Instead of going with whole life, you can have Term + Saving account. For example, if you need $500/year for term and $2500/year for whole life. Take the Term insurnace and pay $500/year, open a saving account and deposit $2000/year ($2500 - $500).

2. You can compare the different life insurance with ratings. http://www.term4sale.com/

3. No life insurance for H1 (non-immigrant)
I have talked to WesternSouthern and Metlife agents. WS does not offer Life insurance for H1 but Metlife offer life insurance provided that insured person must be working in the same company for last five years.

4. Insurance here (US) vs India
Term insurance in India is much higher than insurance here. I got the quote here for $500/year but for the same insurance amount, the LIC cost me Rs.80,000.00

5. Hidden items
Make sure, you understand all the hidden item when you take insurance from here(US) or India. If you (owner+beneficiary) take life insurance here, the insured person stays outside the country for long time (more than six weeks) and if the insured person dies then you can't claim.

Thanks,
-Kuppa
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  #33 (permalink)  
Old 02-20-2007, 05:48 PM
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Guys, i have got very good rates from New York Life thru IEEE. Try them.
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  #34 (permalink)  
Old 02-20-2007, 06:17 PM
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hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts hopein07 is infamous around these parts
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Quote:
Originally Posted by kuppas
I have been doing the same research for the past one month, here is my experience.

1. Termlife Vs Wholelife.
Term is better than whole life. Instead of going with whole life, you can have Term + Saving account. For example, if you need $500/year for term and $2500/year for whole life. Take the Term insurnace and pay $500/year, open a saving account and deposit $2000/year ($2500 - $500).
The only issue here is that Term will cover you till the age of 60-65 if you get 20-30 year fixed rate policy. But if you still have immovable assets at age 65, which you surely will, that you need protected for your dependents then you will not have any coverage at all because Term will last only its stated duration. If saving/investing during young age is the objective then Term is good, no doubt, because it's cheap and covers you from risk during young working years. But I guess no company gives Whole Life on H1 so there's not any other option.
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  #35 (permalink)  
Old 02-21-2007, 09:34 AM
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H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future
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'AAA Life Insurance' is offering 200K Term life Insurance for $25.72 / Month provided a person has to pass a Medical Test.Wondering $25.72 a Month is Fairly Priced compared to other Vendors ??
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  #36 (permalink)  
Old 02-21-2007, 11:42 AM
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Default How is employer sponsered policy coupled with your personal policy?

Question to champak,
Is it separate policy or more coverage for employer sponsored policy which you bought from your employer?. if it is binded with employer policy , how could you move to new employer or take out along with when you leave firm?

thx
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  #37 (permalink)  
Old 02-21-2007, 11:46 AM
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Default Share your secret to compare rate

H1B-GC
Premium depends on your age,duration of policy(10/20/30) and place of living if you you do not have any health problems. unless you disclose your age , no one can help you on your rate comparison.

hoping you don't mind sharing your secret!()

Thx
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  #38 (permalink)  
Old 02-21-2007, 12:04 PM
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H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future H1B-GC has a brilliant future
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Quote:
Originally Posted by 21stIcon
H1B-GC
Premium depends on your age,duration of policy(10/20/30) and place of living if you you do not have any health problems. unless you disclose your age , no one can help you on your rate comparison.

hoping you don't mind sharing your secret!()

Thx
I don't think Age of a Person fall's under some 'official secret Act' or something like that
I Turned 30 about 3 weeks ago.
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Last edited by H1B-GC; 02-21-2007 at 12:10 PM.
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  #39 (permalink)  
Old 07-13-2009, 11:39 PM
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chiraj has a spectacular aura about chiraj has a spectacular aura about chiraj has a spectacular aura about
Post Life Insurance

Hi ,
I am a GC Holder can anybody advice me top5 Life insurance companies for Term as well as Whole Life Insurance.
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  #40 (permalink)  
Old 07-14-2009, 08:20 AM
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Quote:
Originally Posted by chiraj View Post
Hi ,
I am a GC Holder can anybody advice me top5 Life insurance companies for Term as well as Whole Life Insurance.
Prudential
Metlifef
NewYork Life
AXA
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  #41 (permalink)  
Old 07-14-2009, 02:23 PM
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fittan is a splendid one to behold fittan is a splendid one to behold fittan is a splendid one to behold fittan is a splendid one to behold fittan is a splendid one to behold fittan is a splendid one to behold fittan is a splendid one to behold
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Quote:
Originally Posted by 21stIcon View Post
Prudential
Metlifef
NewYork Life
AXA
Few things to add:

1) You need to determine sufficient coverage. If you have a mortgage and children, $500K is the minimum. A 30 year term non-smoker age 35+ should be about $350/year. You usually get a discount if you buy a policy for your wife too. If you try to purchase a whole life for $500K coverage, the premium will be ridiculous...probably $1500 to $2K/year.

2) I always remind myself of the KISS rule (Keep it simple stupid). If you want protection buy term insurance, if you want to save/invest buy stocks, mutual funds, bonds, etc. Don't try to mix them.

3) To protect your familiy, think of the 3 areas: Death, disability and illness. Dying is the easy part...you die, your family gets a lump sum. The worst is that you DON'T die, but have a terminal illness (e.g. cancer), have no job and then incur substantial medical bills. Remember to cover all areas.

Fittan
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  #42 (permalink)  
Old 07-14-2009, 02:30 PM
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hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute hpandey has a reputation beyond repute
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  #43 (permalink)  
Old 07-14-2009, 02:33 PM
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Quote:
Originally Posted by fittan View Post
Few things to add:
3) To protect your familiy, think of the 3 areas: Death, disability and illness. Dying is the easy part...you die, your family gets a lump sum. The worst is that you DON'T die, but have a terminal illness (e.g. cancer), have no job and then incur substantial medical bills. Remember to cover all areas.

Fittan
Fittan,

Do you know any best long term disability insurance for reasonable price to cover income?
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  #44 (permalink)  
Old 07-14-2009, 02:39 PM
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Quote:
Originally Posted by 21stIcon View Post
Prudential
Metlifef
NewYork Life
AXA
I think John Hancock\Manulife Financial is the biggest in business . It used to be the second largest after AIG but ever since AIG's fall it is now at the top.
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  #45 (permalink)  
Old 07-14-2009, 03:02 PM
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Quote:
Originally Posted by sanju_dba View Post
I did refered earlier in this forum ,about KIRAN SATHAYE AGENCY , a desi agent deals with Farmers Insurance in Texas only.
I got mine and my wife insurance with him for $15 a month covering 250K Term Life insurance ( We are on H1 )
Check for any Farmers agents in your area.

Good luck.
Do you get anything in return after the Term? Or is it gone?
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