Originally Posted by
sailingfun
I have looked at the imputed income and policy rates and I can't get even close to just paying the imputed income.
Just so I understand clearly you are saying that paying the tax on the imputed income is less expensive than paying for your own policy? Did you look at the accumulated costs over the life of the policy and the step ups you pay on the imputed income?
Originally Posted by tennisguru
Also, one would hope that after 20 years you'd have enough money saved up to offset the need to have life insurance.
I would also hope for that also. However I'm just about to sign on the dotted line for a 30 year mortgage. Let's say I lose my medical and have to leave the company at age 60 then croak at 61 I want to make sure my family is taken care of. Obviously my mortgage will be quite a bit reduced (hopefully paid off) but you never know.
Originally Posted by Bobz
And where can you buy a 20+ year no-cancel set premium wage indexed term policy.....that has no physical exam/medical monitoring, or terrorist exclusion condition?
How is it wage indexed? The delta policy doesn't change with wage, except the premiums will go up as my tax bracket goes up? The policy I'm looking at (done the medical waiting on a quote) has no exclusions for flying (need to verify the terrorism clause) and I believe it's a fixed premium for 20 years. I guess I'm worried about not being employed at delta at a time in the future and leaving my family exposed.
Thanks for all the input. I'm trying to get ejimicated before I do something stoooopid.
Airfix