What kind of life insurance do you have for LO?

JJ&BB1146

I'm looking into life insurance for DD. But I'm not sure what kind to get. We have 30 year term policies on DH and I, but my broker is just sending me universal or whole life. Is that the best thing for a child? What do you have for your kids?

michelleaxo

You can get a whole life policy at that age for super cheap. DH has one that he has had since a child that is >$25 a month and give about $100,000 whole life coverage.

el_twirpo

we only have life insurance for DH and me. the way i understand it, it's just to cover our family in case one of us dies to take care of mortgage and replace lost income. we didn't get a rider or separate policy for DS.

SaraLouiseBride08

We have a small life insurance policy for DD. I think it's about $50k? My company offers it very inexpensively. We just got thought because I imagine that if, God forbid, we ever received it, I would be in a pretty emotional state and not working to say the least.

denismancini98

Estate taxes could amount to 50 percent or more of your assets so it?s important that you plan ahead. A good estate planning solution is to buy a whole life insurance policy to offset those taxes. Go through the legalities; estimate the taxes that need to be paid and purchase a whole life insurance policy to cover that amount. When you die, your beneficiary will get death benefits from the policy which they could be used to pay off estate taxes. This will leave their inheritance intact.

Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.

MrsMillerTime

denismancini98:

Estate taxes could amount to 50 percent or more of your assets so it?s important that you plan ahead. A good estate planning solution is to buy a whole life insurance policy to offset those taxes. Go through the legalities; estimate the taxes that need to be paid and purchase a whole life insurance policy to cover that amount. When you die, your beneficiary will get death benefits from the policy which they could be used to pay off estate taxes. This will leave their inheritance intact.

Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.

 

JJ&BB1146

MrsMillerTime:

denismancini98:

Estate taxes could amount to 50 percent or more of your assets so it?s important that you plan ahead. A good estate planning solution is to buy a whole life insurance policy to offset those taxes. Go through the legalities; estimate the taxes that need to be paid and purchase a whole life insurance policy to cover that amount. When you die, your beneficiary will get death benefits from the policy which they could be used to pay off estate taxes. This will leave their inheritance intact.

Denise Mancini
Disclaimer: I work for AccuQuote and this is my personal opinion.