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[quote=Anonymous]My dad is 70. Mom is 68. They have 1 million in cash (CDs, liquid mutual funds), each parent has $1.2 million in 401k, and 500K in universal life for insurance for each parent.) they also own as $1M home. Dad is fairly healthy. Mom is less so but doesn’t have any major issues. Should they purchase another universal life insurance policy in which they would pay $18L per year and be guaranteed $500K death benefit? They want to optimize how much $ they can pass to their 2 kids (me and my brother - we are both in our 40s).[/quote]
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