Reply to Life Insurance for mid-50s

Forum Index » Money and Finances

Reply to "Life Insurance for mid-50s"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]We have an advisor and he suggested getting term life back when we were mid 30s, and had young kids and a mortgage. However, he just suggested we do it, and didn't point us to any vendors. I chose a vendor on my own, so he didn't get any kickback from it, that's for sure.

20year term life if you're in mid-50s is going to be super high. The avg life expectancy in the US is 76 years, so there's a high chance the insurer may have to pay out before the term expires.

If you really need it, get 10 year term instead.[/quote]

Yes and no on the 76.  That is the average for all people.  But somone already in their 50s can expect to live longer than 76.  Also race and income matter.  White, UMC will push that up.  Also if they are ok after the medical exam in their 50s -- you would expect a much older.  A white, UMC, already in 50s with no health issues would be expected by an insurance company to live past mid-80s.  Some might, some might not but that is how the numbers would run.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics