The husband had a 10 year life insurance policy that was issued in 2011 and was paying $56.18 per month or $674.16 per year. We were able to issue him a new 30 year term policy and added a $10,000 childrens term rider for $56.42 per month or $677 per year. Same money, much longer coverage and much better situation.
The wife had a 20 year term policy issued in 2011 and was paying $36.88 per month or $423 per year. We issued her a 30 year level term policy for $52.50 per month or $630 per year. She's spending a little more money but she's extended her level term premium by 14 years.