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Old 08-29-2018, 02:48 PM   #2307
DaFace DaFace is offline
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Join Date: Aug 2005
Location: Donkey Land
Casino cash: $2326899
Quote:
Originally Posted by DenverChief View Post
Really? I pay ~$30.00/quarter for $180,000 policy on myself and another ~$10.00/quarter for an $80,000 policy on my spouse. I over pay into the policy by $30/each ($60/$40 per quarter) with a guaranteed minimum 3% return on my cash value. Every 4 years that is re-evaluated if the rate is higher than 3% that is effective for the next 4 years. If it is lower, then 3% is the minimum. IDK about you but that seems pretty damn cheap for a whole life policy with some pretty good guaranteed return or better. Cash out the policy tax free at retirement or take a loan out at anytime.

I also have a term life policy thru my job for about $12/month.
I guess I'd have to see the details on your policies (which I don't care enough to do), but something about this doesn't seem right. $175k of whole life coverage should be more on the scale of $50/month. Here's a calculator just to play with the numbers.

https://smartasset.com/life-insuranc...surance-quotes
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