Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
General Parenting Discussion
Reply to "Kids as beneficiaries for life insurance"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]Never get whole life at any point of time - always a bad investment. For term life get (at least) two policies each one for say $750k for 25 years and one for $500k for 10 years (or for 15 years). This will be significantly cheaper. Ten years from now your mortgage will be less (as you will have paid it down) and you will have significant college savings so will not need as much. Insurance for a 30 year old for years 30 through 40 is very cheap. Insurance for a 30 year old to year 60 is very expensive. Your needs at age 30 if one spouse dies will be much greater than if one spouse dies at age 50. We did three policies: one for 750k for 10 years; one for 500k for 15 years; one for 500k for 20 years. Our youngest was 5 when we did this and we had 600k left on mortgage. By the time he is 15 (when the first policy expires) our mortgage will be about 300k and we will have 100k saved for college so our needs are less. The cost for this combination of coverage was only a little more than a single policy for 750k for 20 years and we have much more coverage when the kids are younger when we need it most and much less coverage when we are older (and riskier for the insurance company) and need less coverage. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics