I sent in my papers a couple weeks ago and am happily anticipating my new existence in the upcoming year. I got my estimate and it all looks fine and dandy as far as I can see with just one little question, life insurance cost. I dropped all but the basic a while ago and indicated that was all I wanted to continue into retirement. For that I have been paying $13 / PP for a while now which is for aprox 90 k insurance. The estimate shows me paying $178 for what it appears is the same coverage. FWIW I'm 57. Of course the estimate doesn't elaborate I can't see how it comes to that number and unless I really was sitting on my head when the papers got filled out I didn't fill out any of the part A or B options. I'll be calling them to figure it out but in the mean time does anyone who has been there have any ideas how they came to that high a number?
The joke's over and I am outa there. Now someone else can save the world. Somebody please remind my rich uncle not to forget his end of the deal
100 G
RSI - Relative Strength Indicator DMA - day moving average
There could be reasons why someone would want to keep life insurance, if you are unable due to health reasons, could be one. Before terminating or reducing to 50% in retirement, the actual costs for 1x salary is really not that expensive even all the way up to age 69, beyond that it gets expensive very fast. So you can still reduce to 50% and maintain 1x salary. Of course if you can get insured on the outside it is normally cheaper.
Each indecision brings its own delays and days are lost lamenting over lost days... What you can do or think you can do, begin it. For boldness has magic, power, and genius in it.
I chose the option that costs the least and declines to free at age 65. At this stage in life you don't need a lot of insurance. You have no young children for instance. I took the 50% survivor's benefit on my annuity, beneficiaries are all named on my various accounts and besides as a veteran I get burial.
Life insurance payouts are not taxable on the whole, but planning your estate properly to avoid taxation is important.
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
S&P500 (C Fund) (delayed) (Stockcharts.com Real-time) |
DWCPF (S Fund) (delayed) (Stockcharts.com Real-time) |
EFA (I Fund) (delayed) (Stockcharts.com Real-time) |
BND (F Fund) (delayed) (Stockcharts.com Real-time) |
||
Yahoo Finance Realtime TSP Fund Tracking Index Quotes |
Bookmarks