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Is there any benefit with staying with the same life insurance co. when wanting to add additional term life?

Basically, I am looking to increase my insurance coverage at this time and wanted to know if I am better off doing it with a insurance company I signed up with years ago or shopping around to find a better rated one. I currently have universal life but I now want to add a Term life policy. Not interested in increasing my universal life since it is expensive and only interest is just adding a term life policy. Just do not know if there is benefits with doing it with a company I already am insured through.

Public Comments

1. Just shop for the lowest rates. There might be some type of discount for getting additional coverage from your present company so get a quote from them, but there's no guarantee you couldn't buy the coverage elsewhere for less. Make sure you're shopping equal coverage. Some term policies are not guaranteed renewable and also compare the rates at the renewable anniversaries. The cheapest policy today might become expensive in the future when the rates increase.
2. No benefit other than only needing to make the claim against one carrier instead of two, which is pretty minor. Just go out there and find the cheapest term policy you can, they are all the same (unlike pretty much every other kind of insurance).
3. The only benefit I can think of is if you can add a term rider to your current coverage with little or no underwriting.
4. Not really. Just shop around for the lowest rates. Just one suggestion, get a level term policy with a 20 or 30 year level premium and a level death benefit. That means the premiums do not go up and the death benefit does not go down. (level premiums and level death benefit).
5. There's no benefit to staying with the same company - let them quote it, but shop it out.