Aaron is 60.  On paper, he’s lost about 30% of his 401(k) this year. Not in a hurry to retire and confident over time he’ll recover those losses, he’s not selling.

To hedge against that bet however, he’s purchased $500,000 of ten year term life insurance with a monthly premium of $120.

Monday there was news that life insurers have “halted” sales. Well, there’s toilet paper and beef in my grocery store. And, plenty of life insurance for sale, too. (No Gracie, not in the grocery store!)  Premiums may be a little higher, but that’s because of exceedingly low interest rates, not the Covid-19 pandemic. That said, if you’re over 65 and at risk for the virus, underwriting could be a little tricky.

There’s another simpler way to acquire life insurance.

Many employers offer group voluntary options. The amounts available for purchase may be lower than Aaron needs but, they’re often guaranteed issue; i.e., no underwriting. Make a note to check that out at your next open enrollment.

Which could be as early as June 1^st if you start a new group plan!!

Hey! I’ve got bills to pay.

P.S. I went into a newly reopened business Friday morning and they took my temperature. First time for me. 97.3. Phew!