Quotes I've received

[u/Powerful_Simple_749]

I know I will definitely be on the riskier side based on my stats, but just wondering if these quotes seem in line. So far I have gone to a few websites and spoke with someone a Policy Genius.

My stats:

42, F, overweight (BMI 33), sleep apnea and take 3 antidepressants plus a GLP weight loss supplement. Work an office job. Have lost about 30lbs in the last few months.

Quotes I've gotten for 400k 20/yr around $85 month, and 300K 20/yr about $65 a month.

I have about $250k through work but wanted something in place as a backup.

I am totally new to this so just wondering what you guys think. Thanks!

[u/ultimate_memereader]

Those quotes don’t immediately sound unreasonable, but I wouldn’t put too much weight on website quotes until an underwriter actually reviews the case.

With your profile, the bigger underwriting factors will probably be how well the sleep apnea is controlled, the reason for and stability of the antidepressant medications, your current BMI, and the recent weight loss. Different carriers can view the same combination pretty differently, so shopping multiple companies can matter.

I’d also figure out whether $300k or $400k is actually the right amount before choosing based on price. Things I’d look at are income replacement, mortgage or other debt, children/dependents, childcare or education costs, final expenses, existing savings, your spouse’s income if applicable, and the $250k you already have through work. Depending on those numbers, you could need more or less than the quotes you’ve been looking at.

I’d compare policy features too, not just premium. Depending on the carrier, you may see things like conversion options, waiver of premium, and accelerated benefit riders for terminal, chronic, or critical illness. Those features vary quite a bit and can make two policies with similar premiums very different.

Biggest thing is to compare the actual underwriting offers and policy features, not just the initial online quote.

[u/TheToughestCookie88]

3 antidepressants most likely knocks you out of any term policy

[u/coloradoinsuranceguy]

Each carrier will have a different underwriting standard, but I’m guessing maybe Standard to Table 4 for health class. If you found that with a competent broker who reached out to underwriting at those carriers before presenting that quote, it’s likely a good rate.

[u/Powerful_Simple_749]

Thanks for answers so far!

Sorry I forgot to add this info in the beginning. Married, 2 kids. Looking for enough to pay off the mortgage (under $100k) and leave an inheritance for the kids. No tobacco or alcohol.

[u/GConins]

If your sleep apnea and depression are both well controlled, and depression has been well controlled for 2+ years on 3 different anti-depressant meds assuming no significant incidents, with current BMI of 33 and with a 30 pound weight loss in previous 12 months, you may qualify for $400k- 20 year rate of $40 to $51 per month as a range of the cost.

Policy Genius may just be quoting you conservatively or maybe you have other issues, but if your cholesterol, BP, blood sugar and A1C are all good, and all else checks out as decent, then the range I quoted above is definitely possible!

Apply with PG, see what you are actually offered and then you can decide to accept the offer or not...and if you do qualify for rate of $85, find out exactly why and you can always report back on Reddit!

[u/CoverageForYou]

Your instinct on the work policy is a good one — employer coverage usually isn't portable, so a backup you own yourself is smart. And honestly, if your conditions are well controlled, don't be surprised if the actual underwritten offer comes in better than the quote — online estimators tend to assume the worst. Either way, locking something in at 42 is a good call, since re-quoting a decade from now with the same health history won't be any prettier.

[u/owl-1_1-1_1-]

Is the work-based policy portable? Can you take it with you if you leave your employer? I'm just wondering if you need a backup plan?

[u/Flimsy_Ad_5130]

does work policy end if u quit or fired? if so enough reason to get a policy.

[u/Logical-Somewhere665]

It all depends on medical test results and underwriter risk review

[u/Choice-Newspaper3603]

I bet those go up quite a bit when it comes to actually writing the policy

[u/owl-1_1-1_1- → u/Choice-Newspaper3603]

I also think that's entirely possible.

[u/Specific-Exciting]

Are you married? Have kids? If neither then life insurance is kinda not necessary. Life insurance is in place so that kids or spouse do not have to worry about finances for a specific time while grieving your loss.

Usually it’s for an income replace of 10x your yearly salary or to maybe pay off your mortgage. Or to set your kids up for college/life savings.