Anyone have the NRA sponsered Life Insurance

Are any of you guys using the Life Insurance that the NRA sells. The company that actually sells the insurance is ReliStar Life Insurance Company. Nicole is hounding me about getting a policy to at least cover the price of the home if something were to happen to me. Considering I do a lot of mountain hiking, snowmobiling, etc. It’s not a bad idea.

Are you guys satisfied with their customer service? Any horror stories? Any recommendations on better policies. Definatley looking at Term Life, not Whole.

I have not heard of ReliStar, but I used to sell life insurance. I’m not sure how old you are, but don’t write off term insurance. You can ‘manipulate’ a term policy in so many ways, that it can take the risk out of them. You can typically get up to a 30 year term to coincide with a mortgage that are much cheaper than a whole life policy. You can also ask about a renewable term in which you are guaranteed the right to take out another term policy. Or you could ask about convertible term in which you can convert it to a whole policy if you feel necessary.

In my situation, I have a whole life policy to cover funeral charges (because we’re all going to die someday), then I have a 30 year term to cover my mortgage and other incidentals).

My other advice would be to get a quote from this ReliStar or any other ‘dependent’ agent, then get one from an ‘independent’ agent (one that can sell multiple company’s insurance). Imagine using delta.com, then using expedia…you will probably save some money when you do this.

Good luck in your search for life insurance.

Typing ReliStar into Google brought up a company called Reliastar – is this the actual spelling?

Reliastar is under the ING umbrella of companies and it’s financial strength ratings are listed on the homepage. The ratings aren’t impressive. While the ratings are all on the higher side of the scale, my guess is that there are at least 20-30 companies per rating scale so that leaves Reliastar well down the list. Probably not low enough to be an issue, but there are many better options out there.

If you are just looking to cover the mortgage, you could go with a policy that lowers the amount of insurance as the mortgage goes down.

But, you may want to just grab a 20-30 year level term policy, the highest amount you can afford. If the worst happens, your wife may need more than just to pay off the house.

I’d look for other companies rated in the top 1-2 levels of the ranking system.

Eric