Life Insurance question.

[upsmaninmi]

Anyone have life insurance that allows a payroll deduction? I'm 37, my mom just passed and it has really made me start thinking and planning for my family. Thanks group.


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[jumpman23]

Just get it through UNION LABOR LIFE. You will see something come through the mail on it. Once you sign up they will just take it out automatically out of your checking account. You wont even see it come out of there really and its pretty inexpensive.

 

[UpstateNYUPSer(Ret)]

You can find much better deals online that you can pay EFT.


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[Brownslave688]

Are you not responsible enough to work the money money into your budget?


Depending on your kids age if you have any but a 20-30 years term insurance plan should cover u just fine.

 

[Cementups]

Are you not responsible enough to work the money money into your budget?

But automatic is far easier than having to manage your own money. I have all my money transferred into different accounts automatically through my credit union. Check gets deposited and then the credit union divvies up my money. Easy peasy!

 

[Brownslave688]

But automatic is far easier than having to manage your own money. I have all my money transferred into different accounts automatically through my credit union. Check gets deposited and then the credit union divvies up my money. Easy peasy!

We have a driver that I think has direct deposit into like 4-5 different accounts.

 

[UpstateNYUPSer(Ret)]

We have a driver that I think has direct deposit into like 4-5 different accounts.

You can do 2 through upsers and need to go through HR if you have more than that.

I have direct deposit and set up automatic EFT's from my checking account for those bills that are the same each month.

 

[Cementups]

We have a driver that I think has direct deposit into like 4-5 different accounts.

Mine goes into my account. Then my CU deposits money into our joint account at my wife's bank. Then my CU distributes money into a few other accounts within my account for chirstmas, vacation and savings. What ever is left pays for my car, cell and cable and me stuff.

 

[Wally]

Are you not responsible enough to work the money money into your budget?


Depending on your kids age if you have any but a 20-30 years term insurance plan should cover u just fine.

I looked into it just because it would have been easier like using the credit union. Nothing to mail, no headaches. The rates weren't competitive enough to do it though.

There are some good search tools that give great rates on term from a lot of companies. Don't want to mention name but think gecko...

 

[Jackburton]

https://www.zanderins.com/term/instantquote.aspx

Take a look at Zander insurance, they are a broker and shop different companies. I can tell you right now I pay 515 for a 20yr 1mil term at preferred plus. You get discounts with these companies when you pay once a year vs installments, so keep that in mind. If you're concerned about your family, term insurance is probably the single best thing you could do for them if anything would happen to you, besides staying alive.

 

[Jackburton]

I'd also like to mention I changed companies when I found the one I'm currently with, Banner Life. I just looked up a quote from them based on my age 37, and it's about 120 bucks more a year than what I locked in just last year, just to let you know.

 

[upsmaninmi]

Thanks for all the replies and good info. It's appreciated.


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[brown bomber]

when I was your age , I didn't plan on passing away however I also took out a policy that would pay off the home, and leave enough to pay for the kids education, and have a few bucks ($200,000) left over......every life and situation is different, talk to a Certified Planner

 

[upsmaninmi]

I will. Wasn't expecting my mom to pass at 60, she had a small policy that covered her funeral. I want to make sure my wife and kids aren't left with any financial burden, that's all. (Just in case).


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[Notretiredyet]

What local are you in? Ours has someone who works with the local that allows you to pay it thru payroll deduction.

 

[UpstateNYUPSer(Ret)]

What local are you in? Ours has someone who works with the local that allows you to pay it thru payroll deduction.

This may not be the most affordable option available.


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[Nimnim]

This may not be the most affordable option available.


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Agreed, but they may be able to give information while trying to upsell to their market that could help while looking independently.