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Life
Insurance: Term Critical Illness vs Return Premium?
Core Conflict: Term insurance has low premiums and high leverage, but feels 'wasted' if no claim; Return-of-Premium pays back if no claim, but premiums are high and value erodes with inflation.
Decision Criteria
5
Premium Cost
Annual premium amount
5
Coverage Leverage
Coverage amount per dollar
4
Opportunity Cost
Investment opportunity cost of extra premium
4
Coverage Scope
Scope of illnesses covered
5
Return Terms
Real purchasing power of returned amount decades later
3
Underwriting
Strictness of health declaration
2
Extra Services
Green channel/Second opinion services
3
Death Benefit
Death benefit coverage
5
Inflation Impact
Impact of inflation on return value
3
Surrender Value
Cash value if surrendering early
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