Do I Need Waiver Of Premium For A Term Life Insurance?
I already have a disability insurance via my federal government job. In addition, I am 39 and plan to retire no later than 55, since I would qualify for federal gov. Retirement at 50. However I have 3 kids btwen 1 to 6. SHould I get 20 year or 30 year term life? I appreciate your assistance?
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asked 2 years ago
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As with any life insurance policy, you need to evaluate your needs. Waivers and riders can be expensive to add on, but the benefit can be great.
What type of term policy are you looking at? 10 years, 15, 20, 30? How is your health? Do you foresee being disabled in the near future due to lifestyle, heredity and habit?
If so, as a precautionary measure, it might be worth taking. But keep in mind that there is a waiting period between the time you become disabled and unable to pay your premiums versus when the insurance company kicks in and pays your premium.
What type of term policy are you looking at? 10 years, 15, 20, 30? How is your health? Do you foresee being disabled in the near future due to lifestyle, heredity and habit?
If so, as a precautionary measure, it might be worth taking. But keep in mind that there is a waiting period between the time you become disabled and unable to pay your premiums versus when the insurance company kicks in and pays your premium.
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