Originally Posted by
VQ2 Spanky
Gentlemen and Ladies,
Have gone round and round with this with the locals but want to hear what you all have to say pro or con on taking SBP?
Am I better off taking that 270 a month and getting a term or whole life insurance policy? I am thinking it is a big expense to give my spouse 55% percent of my avg high three 50%. I am an O-4 retiring at 20 years.
Can you change your mind later?
Thanks,
Spanky
Don't think you can start it later if you retire, but you can stop it during a one year period starting on the second aniversary of your retirement date. I think you'll also need your spouse to sign off on the termination as well, along with having her sign off on anything less than full coverage when you start it initially. I went ahead and took the full coverage...don't know whether it was a smart idea or not. I've got other life insurance too...I think a mix of both is probably a good idea. Congrats on your retirement.
B2P