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Which life insurance should a 32 year old sign up for?

I'm planning to get the term life for $1 milliion for 30 years and the cost annually is: Banner Life $700 A+ TransAmerica $740 A+ AIG $760 A++ AIG is the only one that's getting A++ rating (I don't know what that means but anything with lots of A plus sounds good). Yeah...I have a family and mortgage I have to help them pay off. My friend just died of cancer this past weekend at age 30. I want my family to be taken care of if anything happens to me.

Public Comments

1. You must be planning a very elaborate funeral.
2. their rating is how easy they are to deal with. I'd take the cheapest one. Save yourself the $60 per year. There is only a slight chance that your family will need to collect your insurance, and if they do, they should have no problem dealing with an A+ company.
3. You must have a miserable life if your even considering life insurance... But then again you do live in America!!!!! :-o
4. Strength of company is very important. Price is important and quality is important. I would suggest that you make sure that this term policy is convertible. Convertible means if you would like to convert some or all of the term policy to a whole life or universal life policy you can do so with out showing evidence of insurablity. So your 32 today if 25 years from now you would like to have some of that insurance for the rest of your life you can "convert" the term insurance into a permanent type of life insurance. Even if you have a physical problem that would make you uninsruable at the time. A lot can change over 30 years. For the price difference look at the convertible term. It will cost a few bucks more but it is well worth it... Good luck
5. That plus is a financial strength rating. It's NOT how easy they are to deal with - no one rates that. If the coverages are all the same - guaranteed renewable and convertable, I'd go with the cheapest one! I'm not worried about the difference between the A+ and the A++.
6. Baner Life is a good company, go with them. Afterall, that's why you price shopped didn't you...to get the cheapest one.
7. Without knowing the specifics of your situation, you have probably made a wise decision to go with a large face level term product. Those are all financial strength ratings and have nothing to do with how easy they are to work with. A+ is plenty strong and I wouldn't be surprised if AIG sees a reduction down to A+ after all the capital issues they've been reporting lately. All three of those companies are leaders in the US term market and are very large and strong companies so you can't go wrong. It's sad to here about your friend but I'm glad you are taking care of your family. $700 is not a lot of money for the amount of piece of mind it offers. Most people spend more than that on Starbucks and cable tv each year.