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Life & Health Insurance/Term life or whole: which is best for us?


I am 49 and my husband is 44.  He has psoriatic arthritis and will, quite possibly, not live for 30 more years.  (But one never knows, right?) Due to his health condition, he is taking two medications that are known to reduce one's lifespan. We have no savings, and we both work, earning approximately $80k per year, combined.  We are considering purchasing life insurance on my husband but we are unclear as to which type is best, given our situation.  I am of the opinion that a 30-year term policy might be the best option, given my husband's age, health condition, and medications, plus our financial condition.  What advice can you give me?

Dear Lisa,

Whether you choose Whole Life or Term, he is likely to be rated for the conditions and meds you have described. In order to answer your question, I need to know what you're committed to as far as your expenditures require. Here are some questions I have for you:

1. Do you have a mortgage, or are you renting?

2. If so, how much is your monthly payment?

3. Are you paying extra toward the principal?

4. Are you contributing to IRAs or 401(k)s?

5. If so, how much that is not being matched by your employers?

6. Do either of you smoke?

7. Besides your housing costs, how much are you paying for other debts?

I have a report that goes into more details than what you are asking. If you would like a copy, you can e-mail me at

Willard R. Brumbaugh, LUTCF
CA License 0374776
(888) 792-2379  

Life & Health Insurance

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Willard R. Brumbaugh, LUTCF, CSFP


I can handle questions concerning life insurance, it`s tax implications, how to determine what is appropriate, and how it fits in one`s estate and retirement planning.


For 2 1/2 years I was an expert on, where for most of that time I was ranked #1. I have been a moderator (instructor) for the Life Underwriters Training Council. I have been licensed since 1969. Organizations I belong to: National Association of Insurance and Financial Advisors - California and the Inland Empire Estate Planning Council. I hold the professional designation of Life Underwriters Training Council Fellow.

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