Life Insurance

My wife just had our first child so its time for me to get some real life insurance. I know very little about life insurance but I've been reading a little about it lately on Dave Ramsey's website. He recommends Term.

Is there anything out there for us controllers? Federal employees? Any kind of sweet deals or whatever? Any company I should go to that gives best deals? Etc?

Any input would be appreciated.

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- Nick

Term. Term. Term. Period. I don't know what the FAA offers but let me tell you... Dave is a millionaire... for a second time... the FAA... lets not go there.

Term, term, term. Dave 4 President, plz!

Funny you mention Mr. Ramsey, I am listening to him right now XD

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9/1/07 - CTI School (CCBC)
5/2/08 - Applied PUBNAT2
5/28/08 - Selected for AT-SAT
7/8/08 - AT-SAT 93.8% (CHI)
8/11/08 - Geo Preferences
9/8/08 - Made Referral List
10/14/08 - Pissed

I listen to the guy everytime Im driving through Houston. I just realized he's got a show on Fox Business News channel.

__________________
- Nick

He's amazing.

You can listen to him live every day 2-5pm EST online Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan.

It keeps me sane and hopeful while at work.

__________________
9/1/07 - CTI School (CCBC)
5/2/08 - Applied PUBNAT2
5/28/08 - Selected for AT-SAT
7/8/08 - AT-SAT 93.8% (CHI)
8/11/08 - Geo Preferences
9/8/08 - Made Referral List
10/14/08 - Pissed

I just got out of the Air Force and started working for State Farm because they are a military friendly hire while I am waiting for my application to get picked up from the FAA for ATC. It really depends on what your need is for life insurance and what your goals are. I am licensed in life, health, property and casualty so I have an idea of what I am talking about. The best advice I can give you is go talk to your local State Farm agent and ask to do a life needs analysis. Good luck and if you have any questions shoot me an email back. Later

Federal Government offers FEGLI. Your coverage is the amount of your annual salary + $2000, but under 35 they will provide additional coverage in the amount of your annual salary free of charge. i.e. You make 30,000 per year. Your Basic coverage would be $62,000 (salary + $2000 + bonus coverage in amount of salary).

After 35, however, the bonus coverage steadily decreases to 0.

FEGLI also provides options for additional coverage (1-5x your annual salary), and options to cover your spouse ($25,000 max)/kids ($12,500 max per child). This is very cheap and is simply based on whether you have a spouse or children, not on the number. In essense, the more kids you have the cheaper that coverage is.