Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [term-life]

Questions relating specifically to term life insurance (as opposed to permanent life insurance).

Questions relating specifically to term life insurance which provides coverage at a fixed rate of payments for a limited period of time. Not to be confused with Whole-Life or Universal-Life which are forms of permanent life insurance.

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Is it acceptable to not have term life insurance in my case?

Age: 42 Married No kids I'm currently the only source of household income. My wife doesn't work outside the home. However, that decision was by choice since my income easily supports the both of us. If I were to die tomorrow, we have enough short…
Kris Johnston
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Do I need term life insurance at age 57?

I am looking at a term policies for my wife age 56 $250k worth of coverage with an initial cost $957/yr and myself $400k worth of coverage with an initial cost of $1450 /yr. We have about $100k left to pay on our home and $700k in 401k. Kids are…
Steve
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Do laddered term life-insurance strategies give significant savings over getting re-rated with shorter term policies?

I have been reevaluating my life-insurance strategy and having remembered an article about using laddered term life insurance to give you a higher amount of coverage in the short term with reducing amounts of coverage in the long term. I am a…
NL - SE listen to your users
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What is the point of term life insurance?

I am in USA. I am trying to understand term life insurance. My husband makes $150K a year and wanted to get a term life. I believe the rule is 10 times your yearly salary so for us it would be term life insurance for 1.5 million. We called Zander…
Mary Doe
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What will happen to this life insurance policy obtained just before a possibly terminal diagnosis?

A family member in his early 40s recently suspected he may have cancer due to digestive issues. A life insurance policy for $500k was purchased. A basic medical exam to determine eligibility was done. He had been working with multiple doctors for…
maplemale
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Does this very cheap traveller insurance make any sense?

A local railway company partners with an insurance company and offers insurance policies as paid addition to railway tickets. A random monthly salary in this region is an equivalent of seven hundred USD. A typical ticket costs between five USD and…
sharptooth
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What happens if the term insurance company closes?

I have bought a term insurance plan for 35 years. I pay yearly premiums, and will do so for a long time if everything goes well. My question is, what will happen if say after 20 years the company shuts down? What will happen to all the premiums…
SahuKahn
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missing term life insurance policy papers

We are missing term life insurance policies, but making yearly payments. In case a something wrong happens? Will the policy number alone will be sufficient to make a claim ? I also see there are companies who are holding payments.
puzzled
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Is term or whole life better?

So this is all very confusing to me I don’t understand the difference and what I need. I am a 48 year old female of average health. One dependent child. Trust age is offering me 20k whole life for $47 mo . I keep seeing people say term is better and…
Janie Reyes
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Should I use Social Security survivors benefits in calculating the amount of life insurance needed?

I see a question How much life insurance do I need? , but I want to buy least amount of Life Insurance but still cover my kid and spouse up to an extend. We all get annual social security statements and it mentions …
Neil
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HDFC LIFE PROGROWTH PLUS WORTHY?

I’ve recently became a member of HDFC LIFE PROGROWTH PLUS plan. The person from my savings holding bank told me about this plan. He asked me to invest 25000/- per year for 10 years, you will get good earn after 10 yrs. I said I wouldn’t like to go…
user6161
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Can term life insurance have a surrender value?

Five years ago, I opened a 20-year term life insurance policy with Protective Insurance. In my recent annual statement for the policy, I was surprised to see a non-zero value listed next to "surrender value." The value listed here is about 75% of…
NeutronStar
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401(k)/IRA in lieu of term life insurance at age > 55

I have a term life insurance plan that will expire when I am 55 years old (~20 years from now). My insurance salesman wants me to convert part or all of this into some sort of whole life policy, and their explanation is that it will be harder/more…
SethMMorton
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Term Life Insurance premium vs Interest/Inflation rate

I am thinking of buying a term insurance plan for myself in India and am 28 years old. My premium per year to be paid for a period of 10 years and coverage till 99 years works out to be 111,213 INR. Sum assured at death is 3 crore INR (3,00,00,000…
user3796354
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Is term life insurance a good investment?

Average life insurance for a 60-year-old man costs about $400 per month for a 20-year term (starting today) with a $1,000,000 payout. If I reason that the average 60-year-old man has a 35% probability of dying within 20 years and long-term savings…
bobuhito
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