Life Insurance

[Lali]

Does anyone know of a company that provides reasonable life insurance for non residents like us? I got a quote of $3000 for a policy that would cost a resident $300.

Please help.

 

[Upstate_NY]

Rule of Thumb:
Go with reputable companies. Avoid companies that attract with lower premiums but dissappear when a claim is filed.

I didn't understand your Insurance policy. State farm is a good company.

Policy Coverage Age Monthly Premium
$250,000 30 ~ $20-25
$100,000 30 ~ $12-15

I prefer term insurance over the other type where one has to shell $100-200 monthly for 10-12 years and then, being covered till death.

Disadvantages with term insurance is that premium changes once the locked-in period is over. Oh well! But good for non-residents.

 

[Lali]

$300 is the annual cost (25/month). Do you have State farm insurance? Did they ask for proof of residency?

 

[pv1976]

Dont you have membership with any credit unions .??

I have taken life insurance (CAN mutual) thru my Credit union, as well as another one thru Bank of america.