Life insurance renewal!

[recycled sixtie]

Well renewal of life insurance time. As I am approaching 66, I have been informed that the premium of my $100k term policy goes from $51 now to over $300 when I am 66! I have another policy for $50k which I pay a premium of $62 and that does not change with age. I am going to see my financial planner this am and he can get me a $200k policy coverage for a little over $200/month. I will check the terms and conditions carefully before I commit. This is just a little heads up for those of u that are similar in age. Any comments? Anything I should be aware of?

[mikefocke]

In the same age group, I dropped my term coverage completely. My wife will have enough after I die to live comfortably, we'd rather take the money now and spend it on trips, the kids, etc. I needed big insurance while the kids were growing up and I still had financial responsibility, I don't feel the need to sacrifice now so they might have a bigger inheritance. I still pay on some policies taken out 68 and 46 years ago but those I could collect on any time as they were whole life policies in amounts that are now trivial in both payout and yearly costs.

I guess what I'm suggesting is to ask yourself if you really need the insurance or do you have enough in savings and retirement income and assets to make large insurance amounts on your life no longer a need.

[masraum]

What companies do you guys suggest for a term life policy. This would be something like a $100k policy for 15 or 20 years and I'm 42.

Crud, just realized this is on the boxster forum. I figured it was in OT. Nevermind, I'll probably never get back here to see the answer.