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Old 11-09-2018, 01:15 PM
 
605 posts, read 190,206 times
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Just wondering....

I have $100k free from employer yet we can buy additional coverage.
This is what i signed up for but can change it online within the next few days or so before enrollment closes
Thanks so much
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Old 11-09-2018, 01:35 PM
 
Location: MMU->ABE->ATL->ASH
9,131 posts, read 17,182,746 times
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$12 a week?, every Two weeks? two times a month? Once a month?
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Old 11-09-2018, 01:58 PM
 
Location: SoCal
13,391 posts, read 6,397,928 times
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It depends on your age. I have $750k each per person on a 67 and a 58 years old for less than $300 total a month.
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Old 11-09-2018, 02:06 PM
 
Location: Omaha, Nebraska
7,333 posts, read 4,186,118 times
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The very first question to ask is if you even need life insurance at all. Do you still have dependents?

If the answer to the question of "Do I still need life insurance?" is yes, the next step is to figure out how much coverage you actually need. Only then do you start to shop around for the best price.
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Old 11-09-2018, 02:09 PM
 
Location: Florida
4,381 posts, read 3,722,412 times
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The first question is what are your needs. For example if providing retirement income for your spouse a million dollars could provide 40,000 a year adjusted for inflation during retirement.


You have to total up the expenses you want the insurance to pay for to determine your need. The look up term insurance on the internet to get a few quotes. Then you will know if you have a good price from your employer.
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Old 11-09-2018, 06:31 PM
 
605 posts, read 190,206 times
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Quote:
Originally Posted by flyonpa View Post
$12 a week?, every Two weeks? two times a month? Once a month?
It's $17.25 x 2= $37 a month for about 75K worth of insurance between my husband and I. See below the screenshot.
There is also 25k free insurance and a long term disability policy worth $1300 a month which my employer subsidizes. Thanks a lot
Attached Thumbnails
Is 50K year life insurance for  a GOOD deal for a 50 year old?-screen-shot-2018-11-09-4.27.37   Is 50K year life insurance for  a GOOD deal for a 50 year old?-screen-shot-2018-11-09-5.45.46   Is 50K year life insurance for  a GOOD deal for a 50 year old?-screen-shot-2018-11-09-6.11.25  

Last edited by BumbleBeeHunter; 11-09-2018 at 07:12 PM..
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Old 11-09-2018, 06:47 PM
 
Location: NC Piedmont
3,919 posts, read 2,888,205 times
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When I buy life insurance, I always hope it is a really bad deal; I hope I am wasting every penny on my term policy.
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Old 11-09-2018, 06:58 PM
 
605 posts, read 190,206 times
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Quote:
Originally Posted by ReachTheBeach View Post
When I buy life insurance, I always hope it is a really bad deal; I hope I am wasting every penny on my term policy.
don't we all
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Old 11-09-2018, 07:19 PM
 
605 posts, read 190,206 times
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Quote:
Originally Posted by rjm1cc View Post
The first question is what are your needs. For example if providing retirement income for your spouse a million dollars could provide 40,000 a year adjusted for inflation during retirement.


You have to total up the expenses you want the insurance to pay for to determine your need. The look up term insurance on the internet to get a few quotes. Then you will know if you have a good price from your employer.
We need as much life insurance as possible. Beyond 100K, they want me to submit something from my Doctor.

Last year signed up for 500K but was never contacted so it turned into 100K without any documentation.
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Old 11-09-2018, 07:31 PM
 
12,318 posts, read 15,231,831 times
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Quote:
Originally Posted by BumbleBeeHunter View Post
We need as much life insurance as possible. Beyond 100K, they want me to submit something from my Doctor.

Last year signed up for 500K but was never contacted so it turned into 100K without any documentation.
I heard a life insurance salesman say that if he brings in a request for a million dollar policy, the underwriter is immediately suspicious. Some hidden health issue? Considering suicide?
The underwriter probably decided it wasn't worth the risk and deep-6ed it.
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