Does universal life insurance make sense for us over term?
We are in the process of getting life insurance quotes. Married, wife is 23 and husband is 27 (he is a pilot so has horrible rates). At first we thought we would want a 30 year term policy for 0k. When we met with an agent he gave us quotes for term and universal life. The premiums were about more a month (increased from 0 to 0 for the two of us) for the universal life policy. I would have never considered a permanent policy until receiving these numbers as from my research I thought we would get very low term rates and unaffordable permanent policy rates. 0/month is unaffordable so we are likely going to drop our amount of coverage to the minimum we’d need anyways. I don’t foresee us to need insurance after the 30 years is up, we would rather invest on our own, etc. Just looking at the cost per month and that after 30 years we’d be out the 0/month with nothing to show except peace of mind vs. after 30 years paying 0/month having a bunch of money guaranteed to us (another form of retir
