Reply to Life Insurance for mid-50s

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I definitely wouldn’t get a 20 year term policy in your 50s. Life insurance gets very expensive past 65 or so. You could maybe get a 10 year policy if you really need it but it is an open question whether you need it all.

Would be careful about advice from this guy in general based on this recc. [/quote]

+1. With a few exceptions, it’s unlikely you need a new life insurance policy in your mid-50s, and certainly not a 20 year policy.

Whether term or whole, many financial advisors get commissions for pushing unnecessary products, particularly in the life insurance space. That’s why someone else mentioned asking him point blank if he is a fiduciary (and why the only person defending this is another salesperson).[/quote]

True. I actually have a small universal life insurance policy that I took out in my 20s when it was cheap. I’m in my 40s and I’d never take out a new life insurance policy at my age.[/quote]

A small universal life insurance policy in your 20s was a complete ripoff. You could have put it into S&P — do the math [/quote]

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