Is $2585 billed annually for a $2M policy 20 year term for 48 year old male non smoker a reasonably good price?

$1M would be $1365 annually or $117/mo billed monthly.


Please LMK ASAP if that’s a good deal. Thanks mucho gassy burrito

I'll see if I can get Mrs. Wedge to chime in, she sold the stuff for a year.

Oh, I'm fat. 

Oh, I'm fat. 

Join the old guy club. all those years I smoked, I'd see the Doc and he'd say "you need to quit smoking!". So I quit smoking. Then as soon as I go to the Doc he says, "you're a fat bastard!". I swear there's no pleasing those guys...

LT

A word to the wise- don't be worth more dead than alive.

too late


Going to renew this policy at $2M for at least the next year... fingers crossed I die soon!

Honestly, should have used a broker who gets multiple quotes.  Is the carrier a nonprofit or not-for-profit entity?  Those tend to have lower rates as they don’t have shareholders to satisfy.

Of course, I currently pay $241.33 every quarter for $250K of term coverage w/cost of living rider (adds value to policy based on inflation).  51, non-smoker, no serious health issues.  Got my policy around 1999-2000 with TIAA-CREF when working at a university.

Also, do you really need $2 million in coverage?  Insurance is to put you in the ground and pay off any outstanding debts that would hurt your heirs.  As you get older, you shouldn’t need all that coverage, but I don’t know your financial situation.

 

Honestly, should have used a broker who gets multiple quotes.  Is the carrier a nonprofit or not-for-profit entity?  Those tend to have lower rates as they don’t have shareholders to satisfy.

Of course, I currently pay $241.33 every quarter for $250K of term coverage w/cost of living rider (adds value to policy based on inflation).  51, non-smoker, no serious health issues.  Got my policy around 1999-2000 with TIAA-CREF when working at a university.

Also, do you really need $2 million in coverage?  Insurance is to put you in the ground and pay off any outstanding debts that would hurt your heirs.  As you get older, you shouldn’t need all that coverage, but I don’t know your financial situation.

This. You're better off getting just what you need and put the rest of what it would have cost you to get more insurance into retirement investments.

And yes, whole life is a total rip off.