Is Term My Best Choice at 60?

Posted in Term Life Insurance about 1 year ago, 1 reply

in 1997 I bought a $250k term policy @ $65/month prem. I am considering one or two new term policies before I tun 60 in 6 months. I am thinking a $750K 10 yr policy at $133.52/month and a $300k policy for 20 yr at $136.29/month. I am thinking of this vs a $750k policy for 20 yr at$334.40/month because if I retire at 70 my family's needs may be less and my ability yo pay $334/month vs $133/month is more feasible. I am in good health and do not mind a physical

ANY THOUGHTS?

submitted by kk in Southern CA

Yes term does seem like the best choice. You might consider a 10-year term life policy with the option to renew or convert to whole life after 10 years. This would effectively buy you life insurance for as long as you want it. Since you don’t mind a physical exam, this policy might suit you well.

Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.

submitted by Denise in Wheeling, US @ September 02, 2010 - 02:46 AM

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