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Financial Discussion

It is always wise to have a secure financial foundation. Here is a place to ask questions, exchange ideas and share information on how to make the most of your money.

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Mike in VT  
#1 Posted : Tuesday, January 12, 2021 4:28:53 AM(UTC)

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I've seen a few articles mentioning that FEGLI really isn't a good deal past a certain point (45 years old +). I read an article that there are a few options that more than double the benefit, for far lower premiums. Are there any recommended life insurance plans/companies from the folks here?
#2 Posted : Tuesday, January 12, 2021 4:57:42 AM(UTC)

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Around age 45 I kept FEGLI Option A (the basic) and dropped all additional options.
I switched to WAEPA for additional coverage, there are many comparison charts.
However, WAEPA is term insurance cheap when you switch and expensive when you're old.

When I retired, the kids were gone, the mortgage was gone, the debt was gone.
Life insurance is not a retirement plan so, I dropped WAEPA.
I kept the FEGLI Option A into retirement.

I just turned 65 and my FEGLI life insurance is free.
It will reduce over the next three years to 25% of its face value.
Just enough to plant me.
Retired July 2011
thanks 1 user thanked for this useful post.
Mike in VT on 1/13/2021(UTC)
#3 Posted : Friday, January 15, 2021 5:21:43 PM(UTC)

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There are a few term life insurance shopping sites on the internet.

Select Quote and Zander Insurance come to mind. You might want to put in bogus contact information when filling out their forms so you don't receive follow up phone calls.

These sites will give you quotes from top name brand insurance companies.
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