That can be as true as it is false. Let me explain: if you are widowed and beyond age 70, you’re right, stand alone insurance for estate planning is probably not going to be in your best interest. BUT if you’re under age 75 AND you have a spouse, insurance will cost LESS than the tax your estate is going to have to pay making it a wise investment decision.

Universal Life Insurance Annual Premiums

$500,000 Death Benefit, Non-Smoker

Coverage Type Age 55 Age 60 Age 65 Age 70
Male $8026 $11,163 $15,039 $21,158
Female $6,286 $8,851 $12,372 $17,316
Joint-Last to Die $4,035 $5,571 $7,770 $10,714

*Rates as of January 18, 2012

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