Ok so I've always been on board with term life insurance being what makes sense and not getting suckered into crazy whole/universal life policies. So my wife and I have term life until we're about 55.
However, lately as my income has gone up and my wife works less, I've been feeling like I'm a little under insured. I decided to take a look at a guaranteed universal life policy offered as part of my benefits package at work through met life. I'm struggling to see the downside.
I'm not even really in it for the idea of actual permanent coverage, but it seems like I might as well pay that $25 premium every month just for the death benefit.
I can actually get a slightly larger death benefit than my current term policy, for $100/year cheaper than I was able to secure term life for.
What am I missing?
Let the insurance fight begin!
However, lately as my income has gone up and my wife works less, I've been feeling like I'm a little under insured. I decided to take a look at a guaranteed universal life policy offered as part of my benefits package at work through met life. I'm struggling to see the downside.
I'm not even really in it for the idea of actual permanent coverage, but it seems like I might as well pay that $25 premium every month just for the death benefit.
I can actually get a slightly larger death benefit than my current term policy, for $100/year cheaper than I was able to secure term life for.
What am I missing?
Let the insurance fight begin!