Life insurance?

Discussion in 'Ask An Owner Operator' started by TruckerPete1990, Nov 26, 2020.

  1. TruckerPete1990

    TruckerPete1990 Road Train Member

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    Whos everyone using for life insurance? I've shopped around at statefarm and they want $50 for 10 years for 500,000....
     
    truckdriver31 Thanks this.
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  3. Chinatown

    Chinatown Road Train Member

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  4. PSM379

    PSM379 Light Load Member

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    I have State Farm, roughly $70 a month for $1,000,000 policy, 20 year term. I’ve spent $70 a month on worse things, and it helps me sleep at night if I do drop dead my wife and kids will have plenty, plus selling my equipment and other junk I’ve collected, hopefully they could live comfortable for a while until my wife can figure out things.
     
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  5. TruckerPete1990

    TruckerPete1990 Road Train Member

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    Yeah I'm not but the wife is.
    Did they make u go get a physical for that amount? If so can it be my local doctor or a doctor they choose.
     
  6. PSM379

    PSM379 Light Load Member

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    they sent someone to my house out in the middle of nowhere, couldn’t of been more convenient.
     
  7. Chinatown

    Chinatown Road Train Member

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    USAA is for veterans and family members. You're qualified for membership.
    My wife and I are both members.
     
  8. snowwy

    snowwy Road Train Member

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    Usually it's immediate family.

    If wife is..Hubby would qualify..And the kids.
     
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  9. '88K100

    '88K100 Medium Load Member

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    Buying life insurance is no different from any other product. You get what you pay for and many folks get sucked in to worthless post qualifying policies. Do you really think $50 a month policy for $500,000 insurance would ever pay out??? If no medical is required you likely only making a donation to the insurance company.
    Know what you are buying
    My current “permanent” policy which I’ve had 20 years pays dividends now which in turn pay the policies premiums.
     
    Last edited: Nov 29, 2020
  10. Accidental Trucker

    Accidental Trucker Road Train Member

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    State Farm is NOT going to be the best buy. You should be able to beat them by at least 30% through an independent broker.

    There's quite a few on line places, but make sure you use a burner email, because most of them will sell your email and you'll be buried in spam.

    There's some good hints here: https://www.nerdwallet.com/blog/life-insurance/
     
    RubyEagle Thanks this.
  11. AKDoug

    AKDoug Light Load Member

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    I was doing good on a $70 a month 20 year 1million policy that expires here soon. Now I'm 52 and looking around. I can't touch that price anymore at my age. Best I've found is a 10 yr. policy at $300K for that same monthly. At this point I'm only looking at $250K, enough to have a funeral for me, pay off the mortgage, and a year of income for my wife. She's capable of running our company without me, and the company wouldn't fold if I was gone.
     
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