Re: Continue Term Life insurance?
Great topic, Lakebound !!! Thanks for bringing this subject up ! Good to read how many others are viewing this decision...
FWIW...For us, we recently let our long term term life insurance policy on me lapse...I never had the Fed insurance, because the cost through USAA was ALWAYS cheaper than the Fed version (FEGLI) !
Looking at our current situation, it made no sense to keep paying the increasing premiums to USAA. Wife will get part of my pension ; I'll get part of her pension...depends on who goes first !!!
Our "nest egg" is big enough, and we both have small policies that'll cover the "basics" for when we croak...the Wife through her school board retirement, which costs LITERALLY only pennies per month, and me through a whole life policy that my Uncle (an insurance agent) gave me, as a wedding present, in my 1st marriage...a LONG time ago !!! He's long gone...Holding it more for sentimental value than real "need" !!! Probably worth a lot of money by now...
A HUGE point raised by others is beneficiaries and their needs...we have no Kids or others that we worry about having $$$, so that wasn't even a consideration to us...very simple !!!
Long Term Health Care IS a topic that we're thinking about, but I think we've pretty much decided that our "nest egg" will probably outlive both of us...but that's the crap shoot, isn't it ???
Best wishes to all !!!
Stoplight...
"Too old to rock and roll...too young to die"... - I. Anderson
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