term life insurance, what do you pay/recommend?
- Thread starter Ender
- Start date
I prefer life insurance be as boring as possible. Accelerated death may not be that appropriate, especially if you have adequate health & LTD insurance.
You may consider purchasing separate policies with different terms, to account for accumulated retirement assets becoming self-insurance. For example, $500k 20-year + $500k 10-year.
If you're both working and don't have kids you could bypass life insurance altogether.
You may consider purchasing separate policies with different terms, to account for accumulated retirement assets becoming self-insurance. For example, $500k 20-year + $500k 10-year.
If you're both working and don't have kids you could bypass life insurance altogether.
Esteban_Villa
Veteran XV
hes playing fortnite now cause he is gay
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What kind of retard considers life insurance at 30 with no kids?
GOSHIN!!!!!!!!!!!!
just read the the rest of the thread 
hey btw 700k for $500 a year seems a little low...
what kind of stuff does this have? do they pay your life insurance premium if you are disabled until you are healthy and can work again?
how often are you allowed to move portions of term over to permanent? Can you do that without taking another medical exam? Can you re-up at 60 if you wanted without taking another medical?
do they have any caveats or exceptions or exclusions for the policies? Did the quote show a standard rate or did they quote you guys with a better medical underwriting expectation?
if you are married and want your spouse to be financially ok and accomplish the dreams you have for each other even if you arent here, then it's good to have some life insurance. If you are thinking of having kids in the future, getting it when you're young and healthy is a great idea.
Depending on your income, you should consider a return of premium policy. Essentially if you don't die in 30 years, (or 20 if you do a 20 ROP), you get all your premium back. Good for a nice boost of money before retirement and if you die, you've protected your family all the same. Usually 3x more than base term.
If you want to make your money back + interest + guarantee your insurability and be able to pay a policy off completely while it stays in place forever, look at a limited pay whole life/permanent policy. You can get a smaller permanent policy with guaranteed insurability option (allows you to get more life insurance even if you are no longer insurable) or a larger amount depending on how much you want to sock away. You'd want to view it more as a savings account + insurance vehicle. Builds cash value, guaranteed interest rate + dividends on top. Allows you to take loans out and become your own bank if you want. Gives you options later down the road as well.
edit:
oh. YES you need accelerated benefits rider. Check to see what % of the death benefit you can take and when you are allowed to take it. I had a customer get some cancer, had to stop working a few months later. Declared terminal by doctor so they were able to take up to 80% of their 500k policy if they wanted early. Originally said they didnt need it. About 6 months later they took out 200k to help pay bills that werent covered by medical and take care of bills piling up at home. Spouse stopped working also to help take care of them around the home and spend time while they were dying. Ended up dying about 8 months after the doctor originally thought (around 2 years out instead of closer to a year) and the ability to take the money out was a huge relief to their family. Again, it gave them options.
P FUCKING S
if you wanna get a quote from me let me know
i'm a shameless shill
hey btw 700k for $500 a year seems a little low...
what kind of stuff does this have? do they pay your life insurance premium if you are disabled until you are healthy and can work again?
how often are you allowed to move portions of term over to permanent? Can you do that without taking another medical exam? Can you re-up at 60 if you wanted without taking another medical?
do they have any caveats or exceptions or exclusions for the policies? Did the quote show a standard rate or did they quote you guys with a better medical underwriting expectation?
if you are married and want your spouse to be financially ok and accomplish the dreams you have for each other even if you arent here, then it's good to have some life insurance. If you are thinking of having kids in the future, getting it when you're young and healthy is a great idea.
Depending on your income, you should consider a return of premium policy. Essentially if you don't die in 30 years, (or 20 if you do a 20 ROP), you get all your premium back. Good for a nice boost of money before retirement and if you die, you've protected your family all the same. Usually 3x more than base term.
If you want to make your money back + interest + guarantee your insurability and be able to pay a policy off completely while it stays in place forever, look at a limited pay whole life/permanent policy. You can get a smaller permanent policy with guaranteed insurability option (allows you to get more life insurance even if you are no longer insurable) or a larger amount depending on how much you want to sock away. You'd want to view it more as a savings account + insurance vehicle. Builds cash value, guaranteed interest rate + dividends on top. Allows you to take loans out and become your own bank if you want. Gives you options later down the road as well.
edit:
oh. YES you need accelerated benefits rider. Check to see what % of the death benefit you can take and when you are allowed to take it. I had a customer get some cancer, had to stop working a few months later. Declared terminal by doctor so they were able to take up to 80% of their 500k policy if they wanted early. Originally said they didnt need it. About 6 months later they took out 200k to help pay bills that werent covered by medical and take care of bills piling up at home. Spouse stopped working also to help take care of them around the home and spend time while they were dying. Ended up dying about 8 months after the doctor originally thought (around 2 years out instead of closer to a year) and the ability to take the money out was a huge relief to their family. Again, it gave them options.
P FUCKING S
if you wanna get a quote from me let me know
i'm a shameless shill
Last edited:
you’re located at the confluence of hippy, doofus, and noodle arms