u/therandomwalker

Hi all,

Wife and myself want to get a life insurance policy setup, mainly to safeguard our growing family - both of us work, and we both want life insurance mainly for income replacement if something happens. We are financially secure, have no other debt than a low interest mortgage, and would like to cover college for 2 kids in 16 years or so. Not looking for whole life, conversions (unless I am missing some info) or anything fancy that needs any management - looking for a policy that would pay without hassle if something bad happens.

Chatted on phone with a policygenius agent over phone - she was very nice and knowledgeable and gave the following quotes. We also got some quotes from a prudential agent - quote high ($200 for myself, 100 for wife) which seem much higher than policygenius.

I was leaning towards everly since it has live benfit - but seems like this sub does not like it a lot. I was wondering if

• there is much difference in the first 4 products (Protective, corebridge, everly, banner). Are these reliable, establihed companies that have been around for a while?
• is there a reason to upgrade to transamerica/ prudential - these are the only names i have heard before
• seems like despite me asking for term quotes, there are two accelerated products - is my understanding correct that these are whole life in disguise? Do people use them as term?
• does anyone have knowledge on what happens if your life insurance company goes under? Has that happened?
• Is buying through policygenius OK, recommended?
• are there other companies we should consider that are not on list?

Thanks for any help - me and my wife have 7 degrees between us, and we can not make sense of these financial/ legal thingys so we really appreciate it. If I have asked something silly/ contradicting, apologies in advance.

Myself, 38 M; $2,000,000 / 20 years
- Protective / Classic Choice Term 20 / Monthly: $76.80 / Annual: $903.58
- Corebridge Financial / Select-a-Term 20 / Monthly: $76.81 / Annual: $909.00
- Everly / TermVest+ (Accelerated) / Monthly: $76.88 / Annual: $926.26
- Banner Life / OPTerm Horizon 20 / Monthly: $77.80 / Annual: $915.30
- Transamerica / Trendsetter Super 20 / Monthly: $82.45 / Annual: $970.00
- Prudential / EssentialTerm Plus 20 (Accelerated) / Monthly: $110.69 / Annual: $1,265.00

Wife, 36 F: $1,500,000 / 20 years
- Corebridge Financial / Select-a-Term 20 / Monthly: $39.11 / Annual: $462.85
- Protective / Classic Choice Term 20 / Monthly: $39.27 / Annual: $462.04
- Pacific Life / PL Promise Term 20 / Monthly: $39.52 / Annual: $464.94
- Everly / TermVest+ (Accelerated) / Monthly: $39.72 / Annual: $478.57
- Banner Life / OPTerm Horizon 20 / Monthly: $39.78 / Annual: $467.96
- Transamerica / Trendsetter Super 20 / Monthly: $40.80 / Annual: $480.00
- Prudential / EssentialTerm Plus 20 (Accelerated) / Monthly: $56.00 / Annual: $640.00

Both non smoker, no health complications, no other issues that will come up on underwriting according to our financial person.