Huntley Wealth and Insurance Services Life Insurance Quotes for 50 to 75 Years Old

ATTENTION SHARKS: TEST YOUR POKER IQ HERE

DO THE POT ODDS MAKE SENSE IN LIFE INSURANCE?

"I'm All In"

Did you know?  A lot of people calculate if life insurance is a good bet similar to the way they calculate pot odds in hold'em.

CALCULATING "POT ODDS" IN HOLD'EM 

3 Easy Steps to Winning Consistently by Weighing Risk vs Reward

1

CALCULATE YOUR ODDS OF WINNING

FOR EXAMPLE...

YOU HAVE AN OPEN-ENDED STRAIGHT DRAW​ ON THE FLOP

8 OUTS X 4 = 32% ODDS OF HITTING YOUR HAND​

... OR APPROXIMATELY 2 TO 1

(Not including implied odds or anti-outs)

That means you have to get paid back at least 2X your money if you're going to bet.

2

KNOW THE PAYOFF

While rookie poker players are chatting it up at the table and eating fried rice, the sharks keep track of every dollar put into the pot.

Poker player going "all in" pushing his chips forward
3

GET YOUR MONEY IN GOOD

Putting it all together...

Winning players get their money in when the "pot odds" are right.  It's all about risk vs reward.

For example, if I can call $50 to win a $300 pot, and I have a 50% chance of winning, it's a no brainer... 

Let's see if you can use the same strategy to determine if life insurance is a good deal.

Poker player going "all in" pushing his chips forward

CALCULATING "POT ODDS" IN LIFE INSURANCE

As it turns out, you can use the same three steps to determine whether to go "all in" with life insurance or fold your hand.

  • Calculate your cost and how long you'll likely pay
  • Your return 
  • ... and the odds of winning
1

CALCULATE YOUR COST

COST VARIABLES:

  • Annual Life Insurance Premium
  • Term Length or Life Expectancy
  • (SEE VIDEO)

EXAMPLE: $325 AND 20 YEARS

When you get your quote: Be sure to jot down the annual premium, the term length, and the coverage amount.  (If you selected a "lifetime" term, use the Life Expectancy calculator instead of the term length.)

2

ODDS OF PAYOUT

Here's the deal...

Since most people "outlive" their term, most term life insurance policies don't ever pay out.  

You need to know the odds of there being a payout over the next 10, 20, or 30 years to calculate your life insurance pot odds.

Watch this video, and click the button below.

Did you remember to jot down your odds of death for the term period you selected?  

3

GET YOUR MONEY IN GOOD

Putting it all together...

Just like in poker, it's best to go "all in" with life insurance when the "pot odds" are right.  It's all about risk vs reward.

For example:

If I can spend $10,000 over 20 years for my family to win $500,000, with an 8% chance of dying (approx. 12 to 1 odds), I'll take that bet all day, since I'm getting 50 to 1 on my money. 

Poker player going "all in" pushing his chips forward

See if you can figure out if the pot odds work for the quote you got.  If you have any trouble, use our calculator below.  

A Word of Caution: In poker, using pot odds works when applied consistently hundreds of times.  In life, we don't have the luxury of 100's of lives.  

You never know if life is going to "river" you.  So if you have people who depend on you financially, I suggest you say, "to hell with it... let's gamble!"  Get the protection you need today.