My tbm dad is talking about me getting some life insurance from Allstate. I think it's gonna be 10k to pay for when I pass. I'm 41. Has anyone here ever bought life insurance from here? We have a 9am apt with them next Tuesday. I think it's a side effect of my mom's passing almost 2 months ago. This Sunday marks her being gone.

Can anyone help me out here? Thanks!

Do you have any life insurance at all? Everyone should have something, even if it's just enough to cover a funeral.

You want a term-life policy. Don't buy whole life or variable life. Those are investment vehicles packaged with insurance and do neither very well, at a high expense. Term-life gives you life insurance coverage for a set period of time at a set price. At the end of that period of time the price is reevaluated. It is the least expensive option and for your purposes (and for the purposes of the average American) should be the only type of insurance you consider.

You have a week to do some price comparisons. Contact three of four companies and get quotes for a 10, 15, 20 or 30 year term life policy, depending on how long you want the policy for. They'll want to know your basic health history. To get an actual, set price, though, you'll need to fill out some forms, maybe take a few small tests. Although, for $10k they may not be that worried about a huge number of details since that's such a small dollar amount for life insurance. You can also compare prices online.

Ditto the term life. You can get a lot of term life until 70-75 for a relatively small price. I'm not sure of your disabilities. If physical, they will certainly affect the price or even the ability to get a policy.

Do not get anything that involves savings, etc. If you suffer from depression, it's good to keep in mind that policies do not cover suicides within the first 24 months. Not trying to imply anything here, but this is always an important consideration of the companies and underwriters.

You didn't say who you have to provide for after your death. It's great to provide about 2 years minimum worth of salary for those left behind. You may also look at debt that may need to be settled. I currently carry enough to pay off our business so all she has to worry about is selling it, all personal debts will be paid and she will be left with about 250-300k. Now when she sells our business, she can live comfortably and I can sleep eas..... Wait, I sleep with one eye open and I have found her standing over me once or twice in the middle of the night with a steak knife. She said she was just up getting a snack. hmm.

You can't go through work?

I've got $~500k through work for basically pennies every month.

In my opinion, you don't need life insurance. The main purpose of life insurance is to provide for dependents should you die. You do not have any dependents.

I agree with Kolobian -- if you want enough to cover a funeral for you, then get it through your job. Wait for the next open enrollment period and get a small term life policy, NOT whole life. OTOH, cremation is rather inexpensive, and you could easily save that amount of money.

I have very minimal life insurance that is offered as a free benefit through my job.

Go to an online retailer like Select quote and compare.

Avoid whole life types that are "investments."

You have had health issues, so if you get a policy that needs a physical, that could impact your rate.

Unless you have dependents you don't really need a lot of insurance, IMO. Maybe you could get just enough to cover expenses so your relatives won't be burdened.

In an ideal situation, you could invest what you would pay for insurance for a few years and use that to cover your burial/cremation. Of course if you should die before you accumulate enough for that, it could be a risk.

You don't need a giant policy that invests and costs a lot of money upfront, in my opinion. Beware. I suspect your dad is vulnerable to being sold things you don't need.

I have some term life to help out my wife when I catch the big bus.

I see life insurance as a wager. They bet you are going to live longer than the actuary table predicts. You bet you will die first.

Consider setting up a regular savings program instead until you get a few thousand stashed away. Then you vcan use it for any sort of emergency.

I know that the insurance companies think I should buy a whole bunch and that the commissions are generous.

Any red flags there?

your health history. You have had bouts with cancer, so I think that term life is probably the way to go.

Terminal kidney disease runs in our family, and unfortunately, I passed the gene for it to my son, and he developed the disease. (Not everyone who carries the gene develops the disease. It's just rotten luck.) Anyway, he had some signs and symptoms that made me suspicious when he was very small.

I bought a sizable whole-life policy for him when he was very small, before there was much of anything in his medical records. He wasn't actually diagnosed with the disease until he was in his late 20's, but once he was diagnosed, he became un-insurable. Yeah, I've paid a lot into it over the years, but I don't mind. There is some protection now for my granddaughters.

In your situation, since you don't have any dependents, I think a policy that would decently cover funeral arrangements would probably be adequate.

Go to your nearest mortuary and buy funeral insurance, it will pay funeral expenses over time ( you can pick a payment term , typically 5 years,) and then you have your funeral prepaid with today's locked in prices, and it doesn't Expire (until you do--ha!) Life insurance can take up to 90 days to pay out and funeral expenses can't be paid for by credit card at time of need. Could be crisis for family left behind as funeral expenses can be 10 to 15 thousand cash. It's called a "prepaid funeral plan". I did this as I don't have dependents either and it eases burden on others.