[quote=AN][quote=flu]No. I was talking about a 20 year term…That puts me at 50ish.
I felt for me, that was sufficient because my goal was house paid off, 10+ rentals replacing my current w2 income, kid undergrad college paid off via 529 or something similar…
AN, I think I also wrote “20 year term” on my post… Must be that old age finally catching up to you :)[/quote]
I reread your post just to make sure it’s not my old age… and yes, I’m not old yet. You didn’t mention 20 years, at least not in the post where you mentioned the price difference. I understand where you’re coming from and that sounds like a safe and sound estimate. I was assuming 30 years because that’s what I have.[/quote]
I’m just ribbing you AN… I know it was just an oversight….heh heh…
Policies are kinda interesting… The difference between 15 and 20 year term when you’re thirties isn’t that much…But between 20-25 is a jump and between 25-30 not so much difference… At least that’s what I experienced.. I guess it makes sense statistically.. Seems like the magic threshold is around 55years+…..
Also, the slightest change in health makes a huge difference. (Women insurance tend to be less than men, because I guess statistically women live longer lives than men…)…So it’s probably a good idea to get insurance sooner versus later.
For me, to supplement my own insurance, I do participate in the supplemental offered by my company for 3x salary…That’s the threshold before needing a health exam to qualify…That said, it’s not ideal, because the policy isn’t portable..But, that’s the best option for me right now.
Can’t really get rich off of insurance. It’s more peace of mind.
