Navigating Life Insurance – Are These Quotes Fair for a Healthy Couple Under 30?

How the heck do I start? My wife and I are both under 30, healthy, non-smokers with zero issues on our medical charts. Since we’re planning to start a family soon, we’ve decided it’s time to get life insurance policies for each other.

I recently had an introductory meeting with an agent my family has used before, and while it was helpful, I’m wondering if the quotes I got are competitive or if there’s a way to get better rates without spending hours on the phone with different agents. I work in finance, so I’m hoping to learn more and make sure we're getting the best deal possible.

We’re looking at $1M-$2M in coverage for each of us to cover our mortgage and future children’s college costs. We know that if we wanted to fully cover everything, including grad school for four (hopefully) kids, we’d need more than we can comfortably pay for right now. So we’ve landed in the $1M-$2M range, and I think $1M will probably be fine—but I’m open to advice.

The quotes I’ve received for 30-year term policies (which include BOTH of us, with one of us as a "rider"), without a disability waiver, are:

$1M: $190/month $1.5M: $281/month $2M: $373/month

Does this seem reasonable for a simple 30-year term policy? Any advice on how to ensure we’re not being taken advantage of, or other ways to shop around without losing a ton of time? Thanks!

submitted by /u/MBAFPA
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