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Old 06-25-2009, 10:31 AM   #21
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When I bought, I asked the salesman where the "best" deals were ($250 and $500K I think, at the time) and asked if I bougth two $250K policies, will it be cheaper than 1 $500K policy?

He ran the numbers and it turned out slightly cheaper for the big policy.
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Old 06-25-2009, 09:22 PM   #22
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I am 10 years into a 20 year term. I plan on buying another 20yr, for a lessor amount, to over lap them.
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Old 06-26-2009, 09:28 AM   #23
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FYI - what I've decided to do is to stick with a single term life insurance policy for my own private policy, but participate at work via the plan offered through my employer.

I figure if I stick to that plan, I'll always have "more" life insurance while I'm working, and if/when I FIRE and leave employment I'll naturally dial back on the life insurance.

What really made me go with this approach was when I confirmed that I could indeed reduce the amount of life insurance on my policy down the road if I wanted to, without any problems (it's if you want to increase your coverage amount that it would be difficult/expensive!). So that's flexible enough for me.
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Old 06-29-2009, 09:02 AM   #24
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Quote:
Originally Posted by Lusitan View Post
FYI - what I've decided to do is to stick with a single term life insurance policy for my own private policy, but participate at work via the plan offered through my employer.

I figure if I stick to that plan, I'll always have "more" life insurance while I'm working, and if/when I FIRE and leave employment I'll naturally dial back on the life insurance.

What really made me go with this approach was when I confirmed that I could indeed reduce the amount of life insurance on my policy down the road if I wanted to, without any problems (it's if you want to increase your coverage amount that it would be difficult/expensive!). So that's flexible enough for me.
Sounds good. See how much total LI you can buy through your employer. Typically thet help subsidize this benefit, and you can buy the coverage cheaply.....
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