Author |
Message |
Serate
Member
08-21-2001
| Thursday, September 29, 2005 - 9:59 pm
My husband [age 35] just qualified for Service-Disabled Veterans life insurance but we're clueless as to what is a better option. We've narrowed it down to these three. If anybody can give us any input we'd appreciate it. I'm putting down the monthly costs not to ask if the cost is ok - with my husband's medical issues he'd not qualify for many others and this pays no matter what the cause of death is - but just to show the difference in the 3 plans. All 3 are for $10,000. MODIFIED LIFE AT AGE 65 $14.80 monthly * Must apply before 61. * Face amount is cut by 1/2 the day before 65th birthday but premium remains the same for lifetime. * Cheapest permanent plan, but... Amount of insurance lost can be replaced with purchase of another, separate policy at an additional cost of $6.58 per month per $1000. [$32.90 to replace the $5000 lost, for a total of $47.70 a month]. MODIFIED LIFE AT AGE 70 $16.10 monthly * Must apply before 70. * Face amount is cut by 1/2 the day before 70th birthday but premium remains the same for lifetime. * Amount of insurance lost can be replaced with purchase of another, separate policy at an additional cost of $8.64per month per $1000. [$43.25 to replace the $5000 lost, for a total of $59.35 a month]. ORDINARY LIFE $20.10 monthly * Pay same premium throughout lifetime. * No reduction of face amount. * Lowest premium payment of any of the permanent plans except Modified Life.
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Jan
Moderator
08-01-2000
| Friday, September 30, 2005 - 8:41 am
Serate - do you think you might get more response if you titled it "Life Insurance Question - help Required" just so people know that you are looking for help not trying to sell? It's just a thought. If you do decide you want it changed just drop a note HERE in the questions to mod thread and I , or someone else if I am not around, can make the change for you.  PS I am sorry that I know nothing about the subject 
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Juju2bigdog
Member
10-27-2000
| Friday, September 30, 2005 - 10:34 am
Serate, I am thinking changing the title might help too. Folks around here love to give advice, and it is often very good advice. I always say that if folks at the Clubhouse don't know it, then nobody knows it. I was thinking that Mware might be in the insurance business, but not sure if he reads here anymore.
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Bob2112
Member
06-12-2002
| Friday, September 30, 2005 - 11:22 am
Mware is in the mortgage business, but no longer in the reading TVCH business.
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Ketchuplover
Member
08-30-2000
| Sunday, October 02, 2005 - 3:42 pm
Where is Mware?
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Mak1
Member
08-12-2002
| Sunday, October 02, 2005 - 6:09 pm
in Connecticut. 
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