I know a fair amount on here will speak up against having life insurance but I still need to get a new policy.
Wife and I got ours just before our son was born. We were way over insured, especially me and I believe I have a whole life policy. It's been so long since I've looked at the policy that I don't remember much about it but do know that the price per month is getting up there. My wife's Term policy and expires this month. SHe is getting various quotes through Select Quote and they seem very reasonable for her age, etc. I need to cancel mine and get a reasonable term policy but My situation is a bit different. We want the life insurance as we still have a son in college and want the added money so the surviving spouse would have a comfortable cushion in the event one of our salaries dissappears.
Here's my deal. I'm 51 years old, about 55 lbs over weight, had A-Fib about 10 years ago and got an ablation to remedy it, and chew tobacco. The funny thing is that for my employers health benefits we get a $600 reduction in premiums if we do a full health assessment. I did it in December and as far as blood work goes and all the metrics involved the only glaring problem was that I'm obese; of course. All only other thing that was marginally out of the recommend levels was my good cholesteral. All other blood work was in normal range.
I really don't want to have to get a full physical and blood work done again. So, I went online and did some basic prelimenary term life quotes. Looking to get $750K in term life coverage and if I put in all the info accurately the cost was sky-high. From about $450-700 per month. If I fudged my stats on weight and non tobacco use the monthly cost got down to about $150-$190 per month. Dropping this down to $500K was marginally better.
For those that have a term life policy, who do yo use and if you don't mind what's your coverage and monthly nut? Any intel you can provide would be helpful. Thanks.
Wife and I got ours just before our son was born. We were way over insured, especially me and I believe I have a whole life policy. It's been so long since I've looked at the policy that I don't remember much about it but do know that the price per month is getting up there. My wife's Term policy and expires this month. SHe is getting various quotes through Select Quote and they seem very reasonable for her age, etc. I need to cancel mine and get a reasonable term policy but My situation is a bit different. We want the life insurance as we still have a son in college and want the added money so the surviving spouse would have a comfortable cushion in the event one of our salaries dissappears.
Here's my deal. I'm 51 years old, about 55 lbs over weight, had A-Fib about 10 years ago and got an ablation to remedy it, and chew tobacco. The funny thing is that for my employers health benefits we get a $600 reduction in premiums if we do a full health assessment. I did it in December and as far as blood work goes and all the metrics involved the only glaring problem was that I'm obese; of course. All only other thing that was marginally out of the recommend levels was my good cholesteral. All other blood work was in normal range.
I really don't want to have to get a full physical and blood work done again. So, I went online and did some basic prelimenary term life quotes. Looking to get $750K in term life coverage and if I put in all the info accurately the cost was sky-high. From about $450-700 per month. If I fudged my stats on weight and non tobacco use the monthly cost got down to about $150-$190 per month. Dropping this down to $500K was marginally better.
For those that have a term life policy, who do yo use and if you don't mind what's your coverage and monthly nut? Any intel you can provide would be helpful. Thanks.
