scaredy, my advice is to get a guaranteed term policy underwritten by a reputable carrier while the getting is good. You don’t want to apply AFTER some minor problem gets reported on your medical record kept by the Big Insurance Computer in the Sky. Such as, slightly elevated blood pressure or cholesterol, heart palpitations appearing on your EKG or a small polyp removed in your colonoscopy.

For example, if any of the above conditions are found in your medical record or physical exam performed by the contractor for the carrier you applied to, the term LI premium offered to you will be much higher to start.

Also, try to get a premium which is “fixed” between ages 50 to 70 instead of signing up for a declining term policy or rate hikes every 5 or 10 years. Your initial premium will be a little higher but, overall, I think its a better deal IF you want coverage to age 70.