I’m 20 years old, I have a wife buut no kids. I want to take out a term life insurance plan. (I probably will need it for about 30 years) My question is, should I take out a 30 year plan, so I will be paying the same rates in 30 years? Or should I take out a shorter one, paying less, than purchase another one in 10 or 20 years? I’ve heard speculation that rates will be lower when I’m 40 because life expectancy will be longer. What do you guys think? I’m in good health and don’t have a bad medical family history. Thanks!!
I got news for you, the older you get the more likely your rate is to go up, because you are that much closer to the old guy with the sythe, and are more likely to die. I would take out the 30 year plan, that is what I have. You might want to consider checking out SBLI if that is in your area. They are pretty low premium insurance.