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Thread: Continue Term Life insurance?

  1. #13

    Default Re: Age 55 FEGLI life insurance increases

    Quote Originally Posted by flalaw97 View Post
    I am glad I found cheaper life insurance -....
    ...I was able to get fixed premium $300/month for $750k coverage for 20 years (nonsmoker) with USAA...
    FF, our biggest regret was that we tried to save money by opting only for 20 years.
    We should have chosen the 30 years at a slightly higher premium and slightly lower coverage.
    Stats say majority live past age 75.
    Emotions should never play a role in one's investing strategy!
    No to Greed...No to Fear!
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  3. #14

    Join Date
    Mar 2020
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    Default Re: Age 55 FEGLI life insurance increases

    True on the longevity, but my hope is that if we live to 75, we won't need the payout anymore - purchased it to take care of mortgage, parent plus loans and fill in for my income. By 75, mortgage and student loans should be paid. Not trying to create a nestegg for descendants with life insurance, just trying to protect spouse if pension is cut in half and one SS payment disappears which would happen if I die. I agree that if you eventually want to make sure you get something in return (other than just peace of mind), longer term, lower coverage would be prudent. Or some type of whole life product perhaps?

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