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Reply to "Term life insurance duration"
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[quote=Anonymous]My kids are a little bit older and we did a 20 year term policy. This took us through the kids being out of college plus a few years. (very similar to you) It is a relatively small delta for the 30 year term - but we asked the question - what was the purpose of life insurance. Our answer was to make sure that financially the kids would be able to get through college without having to worry about financial decisions due to one or both parents death. I am not a lawyer - but you might want to talk to one about the beneficiary being a Trust. I can't remember the details - but doing it this way provided a layer of control of minor children or 1 child who was a minor and 1 adult.[/quote]
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