Originally Posted by
e6bpilot
It's a gamble. SBP is a better deal if you die tomorrow. Term life is a better deal if you die in 20 years. I chose term life. I can get a $1M policy through Navy Mutual that is going to last me until I am 71 for around $100. I also have $650K through WN that is super cheap.
I am all about taking care of my family, but I personally plan on living until I am old, and the rates for SBP are redonkulous for my family to get paid 40 percent of my 50 percent. No thanks. Either way they are taken care of, this way I just don't pay through the nose to ensure that is the case.
Do a solid risk-benefit analysis. When did your parents die? What is your lifestyle like? If there is a good chance you are going to be toes up in 10 years, SBP may be right for you.
I'd make a small but significant correction....SBP is better if you die tomorrow. Term is better if you die in 20 years. SBP is better if you die in 20 years and 1 day. The biggest factor with term that lasts til your 71 is that if you die at 72 your wife gets nothing. With SBP if she outlives you by 3ish years your wife is getting back more than you ever put in. If she outlives you by 20 years like my grandma did my grandpa SBP is a far, far, far better deal. To me it was a no brainier for peace of mind. $225 a month isn't that much.