Re: [TSPStrategy] Life insurance

In Bryan's case he's still paying the same amount at 61 because it's term life. That would change if he opts into a convertible whole life after 61, that can come with different options. FEGLI is nice option with no medical exam and 75% reduction. But totally recommend younger generations with a family a term life early on followed up by FEGLI later on.



On 4/9/21 at 12:10 PM, Nelson Garcia via groups.io wrote:

From: "Nelson Garcia via groups.io" <it2garcia=yahoo.com@groups.io>
Date: April 9, 2021
To: TSPStrategy@groups.io
Cc:
Subject: Re: [TSPStrategy] Life insurance

The thing about this life insurance is when you turn 60. They either reduce your coverage and increase your monthly. When you are still alive after the term they get to keep your money. So I just stay with basic FEGLI for funeral expenses  and put more in my TSP when I die my dependent can have all my TSP to cover them.

On Apr 9, 2021, at 8:34 AM, eljosco@mail.com wrote:



Totally agree with this Bryan



On 4/8/21 at 5:43 PM, Bryan Gardner wrote:

From: "Bryan Gardner" <Bryubpharm@gmail.com>
Date: April 8, 2021
To: TSPStrategy@groups.io
Cc:
Subject: Re: [TSPStrategy] Life insurance

Still much younger in my career, but ditched the basic option as it had climbed to $690/yr for 1/10the coverage of my term life which is good thru 61 with the option to convert to whole life if I want.  I plan to be able to self fund  and have no liabilities at that point.  

Unless there is a pre-existing condition outside term is far cheaper.  In my own scenario over 30 year career the difference it adds up to $10k extra.

On Thu, Apr 8, 2021, 5:24 PM Paul Machiele <machiele.p@gmail.com> wrote:

I've been happy with WAEPA for years for term life insurance. However, as I near retirement I will like drop it, as the premiums rise and my needs decline. The one thing to hang onto into retirement if you had it prior to retirement is the free portion of FEGLI.
> On Apr 8, 2021, at 11:03 AM, DENNIS GRANT <dgrantrescue@gmail.com> wrote:
>
> I have recently retired and I remember reading on here about some various life insurance options instead of FGLI. Can someone please assist with what you are using? Thanks
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