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Old 05-27-2015, 08:11 PM   #21
Thinks s/he gets paid by the post
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Join Date: Jun 2013
Location: Coronado
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Quote:
Originally Posted by martyb View Post
Not crazy about the cost, but I sleep well at night l knowing she's protected.
This is kind of how I feel. Even though DW has a good career and we will have enough savings to be FI by my retirement age (if things continue to progress with modest growth), we did a lot of math based on forecasts and we couldn't rationalize not spending the 6.5% for SBP. She will not have any DB income other than my pension, thus if I kick at a young age, she's working a lot longer to build savings to account for the pension which will likely account for 40-50% of our spending in retirement, and that's even with our NMAA term benefit. That's a big chunk that goes away with me... I'll sleep better at night knowing that when I do, and even if it's at a young age, she'll probably be OK.

I suspect at some point in the far off future we might have enough in savings that the SBP becomes somewhat insignificant, and in that case we won't care about the 6.5% at that point either. Before then, we'll cancel our term life insurance.
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