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Money and Finances
Reply to "Life Insurance-How Much and When to Drop"
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[quote=Anonymous][quote=Anonymous]We're in our 50's and have no life insurance. We self-insure using our other assets. About $2.5 million in retirement and other investment accounts. Home paid for. HHI $150K. Added insurance seems a waste.[/quote] In your case, yes, it is a waste. Basically, buy term life. Enough to pay for kids college, mortgage, running the house, spouses retirement (without having to work). So around 2M for household income of above 200K, and 2 kids in school) Once kids are out of the house, and your own retirements, investments etc. are in place, then you do not need the life insurance.[/quote]
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