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Started By
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1
Posted on 8/20/26 at 3:28 pm to GREENHEAD22
Zero for me. No debt and no need to replace income if my wife or I died.
Posted on 8/20/26 at 6:39 pm to GREENHEAD22
Have $500k. Would have gone more but cancer 20 years ago made it too costly.
Plus have another $50k work pays for on my behalf.
Edit:
I just renewed last year (age 51) on 20 yr term
My previous 10 yr term expired and a did a couple of year to year trying got a lower rate.
Plus have another $50k work pays for on my behalf.
Edit:
I just renewed last year (age 51) on 20 yr term
My previous 10 yr term expired and a did a couple of year to year trying got a lower rate.
This post was edited on 8/20/26 at 6:43 pm
Posted on 8/20/26 at 6:56 pm to basiletiger
Dad was county agent - extension through auburn
Mom was teacher
They were not rich nor am I
Mom was teacher
They were not rich nor am I
Posted on 8/20/26 at 7:17 pm to tigeraddict
I’m in a similar situation. Had cancer in my mid 20’s, 35 now.
Every quote I get just seems outrageous. $300 a month for 500k in term coverage. I don’t think it’s worth it.
My mindset is to just take the money and put it in a mutual fund. I have a really good prognosis and basically zero recurrence likelihood. Feel like I am making the right decision.
Every quote I get just seems outrageous. $300 a month for 500k in term coverage. I don’t think it’s worth it.
My mindset is to just take the money and put it in a mutual fund. I have a really good prognosis and basically zero recurrence likelihood. Feel like I am making the right decision.
Posted on 8/20/26 at 8:36 pm to Taffeta
Join AARP. You can get $300K with no medicals for $120 a month. You’re welcome.
Posted on 8/20/26 at 8:38 pm to GREENHEAD22
Whatever work provides.
Think it’s 2x annual compensation.
Self insured otherwise.
Think it’s 2x annual compensation.
Self insured otherwise.
Posted on 8/20/26 at 8:44 pm to GREENHEAD22
That seems like a lot. Including what my employer provides, I have 4.5x my salary which will cover the house, high school, and college for the kids. My wife can get by on a school system salary if I'm gone and all those things are paid for.
We have no life insurance on my wife. Finances don't change if she's gone.
We have no life insurance on my wife. Finances don't change if she's gone.
This post was edited on 8/20/26 at 8:47 pm
Posted on 8/20/26 at 8:47 pm to GREENHEAD22
quote:That is fricking insane and absolutely because the people saying its the standard are the ones making money off of selling it
I think because the standard seems to be 10-15X annual income
Posted on 8/20/26 at 9:08 pm to TigerTatorTots
Why is it crazy?
Make $100K and insure for $1-1.5? If you are in your thirties with young kids then that’s reasonable.
Make $100K and insure for $1-1.5? If you are in your thirties with young kids then that’s reasonable.
Posted on 8/20/26 at 9:10 pm to lynxcat
If all major debt is covered for the next 20 years then I don't see a reason to overinsure past that. If the husband or wife is a stay at home mom/dad, i could understand it. If both have jobs, I do not.
Posted on 8/20/26 at 11:09 pm to GREENHEAD22
I'm at $1M, wife is at $500k. Never been about getting rich if something happened, but giving them enough to survive if something did with me as the sole provider.
My life insurance ACH is the best money I spend every month.
My life insurance ACH is the best money I spend every month.
Posted on 8/21/26 at 6:01 am to basiletiger
quote:
too cheap to policy match yet your wife's income exploded. Yikes.
When you put it like that it does sound bad.
We settled on a number that was comfortable for both of us, it was not adversarial. We saw life insurance as income replacement. Why should we pay for more insurance to replace an income that didn't warrant it? As it turned out I was proven right. I'm still here.
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