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[quote=Anonymous][quote=Anonymous]Married 52yo here with two kids, 16 and 13yo. DH is 58. I have $800K in term life insurance, DH the same. We both work. I know this is not much by DCUM standards but we have only $90 K left on the mortgage with 4 years to go before it is paid off, and $300K saved for college. $1.6m saved for retirement. So if one of us died, it would be plenty.[/quote] We are similar and i have a $250K policy term ($250 per year) + 1 year salary for each of us from work. We have a bit more saved for retirement (but not such good shape on mortgage). When i ran the numbers I realized buying a policy for 8x each of our income was overdoing because we had already saved a significant amount. I think many people are oversold policies. When you look at social security & pension effects plus the fact that you have only one person to retire vs 2 it makes a difference.[/quote]
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