Hi all,
I'm shopping term insurance right now, and need a little feedback on what may be best. My wife and I are both in our mid twenties with 3 little kids (under 3). I make about 66k a year, no debt except a 250k mortgage. Here are my annual options for a 30 year term.
500k 628.98
550k 685.88
600k 742.78
650k 799.67
750K 913.47
I'm also considering 25 years on all of these to bring down the premiums since I plan on being FI by 50. However, things happen, and I'm wondering if tagging the extra 5 years is worth the bump in premium from 25 to 30 years (about $150 +/- per year).
Thanks!
I'm shopping term insurance right now, and need a little feedback on what may be best. My wife and I are both in our mid twenties with 3 little kids (under 3). I make about 66k a year, no debt except a 250k mortgage. Here are my annual options for a 30 year term.
500k 628.98
550k 685.88
600k 742.78
650k 799.67
750K 913.47
I'm also considering 25 years on all of these to bring down the premiums since I plan on being FI by 50. However, things happen, and I'm wondering if tagging the extra 5 years is worth the bump in premium from 25 to 30 years (about $150 +/- per year).
Thanks!