The Brief
- Zander Insurance only sells term life insurance policies
- Term life insurance doesn’t last for your entire life
- You can shop for whole or universal life insurance policies online
If you were to conduct an internet search for “term life insurance Dave Ramsey,” you will have most likely stumbled upon Zander Insurance. Famed author and radio host Dave Ramsey’s insurance tips have inspired many consumers to purchase life insurance through this enterprising company, but is Zander Insurance, the right company for you?
Free Zander Insurance reviews, like this one, can help you find an insurance company that is best suited to your needs. Keep reading this Zander Insurance review to learn more about this company and the life insurance coverage it has to offer you.
Table of Contents
What is Zander Insurance?
Founded in 1925, Zander Insurance is an independent insurance agency based in Nashville, Tennessee. Independent agencies collaborate with multiple insurance companies. Zander Insurance representatives will provide you with quotes from various major insurance companies that include:
- Pacific Life
- Prudential
- The Hartford
- Travelers
- Chubb
- MetLife
- Mutual of Omaha
- Nationwide
- Kemper
This long-standing insurance agency also has an A+ rating from the Better Business Bureau (BBB) and a Dave Ramsey term life insurance endorsement. Unfortunately, sample life insurance rates aren’t available on Zander Insurance’s website, but you can use the free quote tool to learn how much you may pay for a policy.
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What life insurance does Zander Insurance offer?
Although Zander Insurance has partnerships with multiple life insurance companies, it doesn’t offer too much variety in the way of life insurance policies. You can only purchase a term life insurance policy through Zander Insurance. If you are interested in learning about some of the other products Zander Insurance offers, like home, auto, or health insurance, you can call 1-855-609-8922 to speak to a Zander representative.
Who should buy Zander term life insurance?
If you’re trying to find the best life insurance for stay-at-home parents or insurance that can fit within a tight budget, you may be interested in a term life insurance policy.
Term life insurance tends to be very inexpensive, allowing individuals to purchase substantial coverage for very little. Rates are influenced by a variety of factors, though, as you can see here:
Average Monthly Term Life Insurance Rates for a 30-Year-Old, Non-Smoker Male
| Coverage Amount | 10-Year Term Length Average Monthly Rates | 20-Year Term Length Average Monthly Rates | 30-Year Term Length Average Monthly Rates |
|---|---|---|---|
| $100,000 | $10.85 | $12.53 | $16.36 |
| $250,000 | $13.45 | $17.45 | $24.41 |
| $500,000 | $18.56 | $26.22 | $37.93 |
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What is exciting about Zander Insurance’s services is that the agency will bring you term life insurance quotes from multiple companies so you can be sure that you are getting the best deal possible while remaining within your budget.
Remember that term life insurance won’t last forever. You can typically choose when the policy ends, but when it does, be aware that you will no longer have any life insurance coverage.
Are the other types of life insurance products on the market?
If you don’t think term life insurance best suits your goals or coverage needs, you can look into other life insurance types, like whole life insurance or universal life insurance. These policies operate differently than term life insurance, so let’s take a closer look at each policy type so you can determine which is the best fit for your coverage needs.
Whole Life Insurance
A popular form of insurance, whole life policies will remain active for your entire life as long as your payments are made in a timely fashion. Most whole life insurance policies also accrue cash value, and this cash value is yours to use as you see fit. For example, you can withdraw the cash value to help buy a house or even start a business.
Be aware that whole life insurance costs more than term life insurance. If you’re curious about the affordability of a whole life insurance policy, you can examine sample whole life insurance rates here:
Average Monthly Whole Life Insurance Rates by Age & Gender for Non-Smokers
| Policyholder Age | Rates for Male with $100,000 Coverage | Rates for Female with $100,000 Coverage | Rates for Male with $250,000 Coverage | Rates for Female with $250,000 Coverage | Rates for Male with $500,000 Coverage | Rates for Female with $500,000 Coverage |
|---|---|---|---|---|---|---|
| 25 | $93.70 | $84.91 | $201.90 | $179.97 | $396.07 | $352.22 |
| 30 | $107.71 | $97.35 | $238.33 | $211.60 | $468.50 | $415.25 |
| 35 | $128.24 | $112.93 | $289.26 | $251.86 | $569.70 | $495.33 |
| 40 | $153.90 | $132.15 | $350.98 | $299.62 | $692.47 | $590.19 |
| 45 | $190.79 | $156.17 | $434.71 | $365.30 | $859.29 | $720.90 |
| 50 | $234.90 | $191.66 | $538.74 | $449.58 | $1,066.47 | $888.81 |
| 55 | $294.84 | $243.17 | $678.64 | $574.34 | $1,344.73 | $1,137.02 |
| 60 | $399.24 | $311.63 | $895.65 | $735.39 | $1,777.01 | $1,457.58 |
| 65 | $528.00 | $421.69 | $1177.24 | $978.84 | $2,338.00 | $1,942.51 |
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As you can see, whole life insurance may cost more than a term life insurance policy through Zander Insurance, but these types of policies do come with extra benefits, like cash value and life-long coverage.
Universal Life Insurance
Another type of life insurance product you can investigate if you are eager to increase the value of your policy is universal life insurance. Universal life insurance products are typically tied to a specific stock market index. While your death benefit is guaranteed by most life insurance policies, the rate at which you gain cash value is controlled by the index’s performance.
Individuals who aren’t sure if a universal life insurance policy is the best choice for them can use this data table to review the benefits and shortcomings of such a policy:
Pros and Cons of Traditional Variable and Variable Universal Life Insurance
| Type of Life Insurance | Pros | Cons |
|---|---|---|
| Traditional Variable | Tax-deferred income Potential for higher return than whole life Permanent life insurance (does not expire) Death benefit can be increased as cash value grows Can borrow or withdraw from the cash value May be used to supplement retirement and other deposit accounts Guaranteed death benefit | Riskier than whole life Lower interest than other long term investments Higher premiums than term life Borrowing lowers the death benefit Management and investment fees may affect cash value May not have guaranteed rate of return, or it may be low Cash value often isn't equal to surrender value for 10 - 15 years Regulated investments can translate into higher hidden fees Poor performance may lower the death benefit Fewer investment choices offered than variable universal |
| Variable Universal | Tax-deferred income Potential for higher return Can borrow or withdraw from cash value More investment possibilities than traditional variable Can voluntarily fund the account early to build the cash value Can use the cash value to pay premiums May be used to supplement retirement and other deposit accounts Flexible premiums and death benefits Governed by securities law Combines life insurance with income growth | Lower interest than many long term investments Difficult to manage investments More risky than whole life and traditional variable Subject to fluctuations in value based on market volatility Higher premiums than term life Borrowing lowers the death benefit Higher premiums when investments are not performing High surrender fees |
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You can also shop online to get free universal life insurance quotes and compare them side by side to verify that you are making the best choice for your coverage needs.
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Zander Term Life Insurance: The Bottom Line
Zander Life Insurance can save you time and energy by searching through a plethora of insurance quotes to find the best ones for you. However, while this illustrious agency has a Dave Ramsey life insurance endorsement, it only provides term life insurance policies. Therefore, if you want a policy that can grow cash value or provide coverage for your entire life, it will behoove you to shop online for a whole or universal life insurance policy.
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
Melissa Morris has a BS and MS in exercise science and a doctorate in educational leadership. She is an ACSM certified exercise physiologist and an ISSN certified sports nutritionist. She teaches nutrition and applied kinesiology at theUniversity of Tampa.She has been featured onYahoo,HuffPost,Eat This,Bulletproof,Vitacost,LIVESTRONG,Toast Fried,The Trusty Spotter,Best Comp... Full Bio → | Written byMelissa Morris |
Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them.Licensed in Massachusetts, New Hampshire,... Full Bio → | Reviewed byKristen Gryglik |
