Survivor’s benefit or life insurance ?

[1962colreb]

My wife is retiring in 5 months.  Her cola’d pension will drop from $1800 per month
to $1620 per month for the 100% survivor option. 30 year term for $250k will run
60 per month and 100 per month for $500k . Health insurance is not an issue.
I am 55 and she is 50.   I’m leaning towards the 500k term life insurance and
dropping the survivor benefit but wonder if there are considerations I’m missing ?

[Proud Foot]

Make sure you consider the whole financial picture and life expectancy. If she outlives you there is not a problem. What happens if you decline the survivor option and both outlive the 30 year term insurance? With you being 5 years older than her, based upon the information you gave, my assumption would be that she would outlive you.