Sign up, and CougarBoard will remember which categories you want to view. Sign up
Sep 16, 2014
1:19:17pm
Like I said, not a bad strategy, provided you can be 100% sure that on the day
you leave that company and find yourself at one that doesn't offer group insurance, you don't have diabetes, or high blood pressure, or cancer, or any one of a number of conditions that make life insurance very expensive or unobtainable at any price.
I pay almost $500/month for 500K of coverage on two old group policies, and the price goes up with every birthday. After my mortgage, it's my largest bill. Am I grateful to have it, considering my health? You bet. Do I regularly kick myself for not buying that coverage in my 30's or even my forties and paying about $75/month back then? What do you think? Unfortunately, I have never been able to find life's rewind button.
Also, 5x/annual salary is not enough insurance. You need at least 10X, even up to 15 or 20X if you are young, healthy, and have a houseful of kids and your HCBW's main marketable skill is that she got you through school.
This message has been modified
Originally posted on Sep 16, 2014 at 1:19:17pm
Message modified by buzzard on Sep 16, 2014 at 1:25:42pm
buzzard
Bio page
buzzard
Joined
May 31, 2007
Last login
Apr 15, 2015
Total posts
9,036 (105 FO)