I have term to 100 with accelerated benefit ,when I came down with cancer they handed $30,000 which turned out to be the exact amount I owed after surgery
Long term health care insurance is just as important as life insurance. We were lucky and took out a LTC policy over 20 years ago. Nobody will write you a lifetime policy like that now. LTC policies are harder to get if you have any major health issues and more expensive to keep. Our policy covers at home care or in a nursing home care. Think about forking out $3500 or more a month for LTC and that can eat up your savings real quick. If you wait to you're old and in bad health the premium can be about as much as the care cost.
I appreciate everyone's responses. It was helpful. Several mentioned about my tobacco use and weight. You're not wrong and I need to quit and start working out and eating right again. Unfortunately I picked the dipping habit back up about two years ago after having quit for about 5 years. Such a stupid decision. Wife want me to and need to work toward getting the courage up to dealing with the first week of hell while quiting. Once past that it becomes 100X easier for me to keep on the wagon. My weigh has always fluctuated throughout my adult life from 210# to 285# down to 197# now up to about 285 again. Naturally, I;m a big guy and about 225-230#s I look fit and trim. I can lose weight fairly easily if I put my mind to it but with the hours I'm putting in at work and commuting it is very difficult to get exercise in. Jsut need to make a commitment to do it. I did last night do some basic exercise last night when i got home from work and I slept amazing last night. The time change will make it easier to get this started up again.
I do appreciate ya'lls input. Thanks
I do appreciate ya'lls input. Thanks
I have $1000 through the NRA, $1000 through the American Legion, and $1000 through the Veterans of Foreign Wars. All free with membership.
We do have a Long Term care policy for the wife. I’ll get whatever the VA offers for long term.
We do have a Long Term care policy for the wife. I’ll get whatever the VA offers for long term.
You could always get the best deal you can get right now, then work on the weight and tobacco. When you get that where you want, cancel and replace the policy with one at preferred rates. If it's in a year or two, I doubt you'd see much increase in cost due to age.
Edit: thinking term policies, not whole/universal
Edit: thinking term policies, not whole/universal
FWIW, the tobacco will cost you typically double, if not triple the premium cost...... and even if you quit later on.... you'll typically still be paying the tobacco rate. Otherwise you be in a situation where you'd try to rewrite the policy down the road, and that will be expensive too. Basically, be as healthy as you can when you write a policy.
Wife and I just got LTC coverage last year and it was reasonable. Would definitely suggest having LTC unless you have enough cash to cover. No life insurance on wife. For me, I've got around $500K through work plus a little for long term disability. This will stop once I retire but then our retirement accounts will be enough where if I pass then wife will still live comfortably and vice versa.
Honestly I do not have a huge amount of coverage , but at the same time I also have zero debt and when I shuffle off this mortal coil I am leaving my significant other with cash in the bank , an adequate sum in life insurance and a collection of valuable firearms and collectibles which when liquidated will leave her with a nice sum of cash in its own right.
Speaking of which and I am addressing this specifically to the young people who are getting into shooting as a hobby or sport. Quit buying garbage guns which won't appreciate in value.
Educate yourself on what true collector grade firearms and accessories are and buy those. You will thank me later for this advice.
I have sold old boxes of ammo for more than a lot of guns sell for .
Speaking of which and I am addressing this specifically to the young people who are getting into shooting as a hobby or sport. Quit buying garbage guns which won't appreciate in value.
Educate yourself on what true collector grade firearms and accessories are and buy those. You will thank me later for this advice.
I have sold old boxes of ammo for more than a lot of guns sell for .
Term insurance should be used to cover the gap between not having enough savings to provide for the family to when enough savings is there.
I pay $34 per month for $500k of term coverage. The insurer is Lincoln National.
I bought it around 2014 I think. I need to verify, but I think it was a 10 year term. It may be 15.
I pay $34 per month for $500k of term coverage. The insurer is Lincoln National.
I bought it around 2014 I think. I need to verify, but I think it was a 10 year term. It may be 15.
