|
Posted by Will Trice on June 21, 2008, 6:06 pm
Generally I subscribe to the philosophy that life insurance should be
used to replace lost income for those that depend on it in the event of
the untimely demise of the insured. Thus, I didn't really take life
insurance on myself too seriously until I got married (and thus had
someone who depends on my income), and I intend to scale back to minimal
life insurance once I retire (since my income will no longer be
dependent on my ability to draw breath). In between these two events
(marriage and retirement), I have a declining need for insurance. Would
it be wise to ladder term life contracts to cover this period of my
life? For example, would it make sense to split my insurance needs say
into thirds and get a 30 year level term insurance contract, a 20 year,
and a 10 year? Of course, all this goes out the window with kids...
Sorry if I'm slaughtering insurance terminology here.
-Will
william dot trice at ngc dot com
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
|
Posted by Will Trice on June 22, 2008, 4:20 pm
Cal wrote:
> Generally speaking the answer would be NO.
> The cost (with most companies) of three contracts would be more than the
> cost of one contract.
>
> You can get the very same effect by the purchase of ONE 30 year Term
> policy, and REDUCING the coverage every 10 years............or 5 years
> or whatever.
Good to know. Thanks, Cal.
-Will
william dot trice at ngc dot com
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
|
Posted by bo peep on June 25, 2008, 4:26 pm
> In between these two events
> (marriage and retirement), I have a declining need for insurance.
But at the same time, inflation will be reducing the value of the
eventual benefit, which will at least partially offset the need.
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
|
| Similar Threads | Posted | | Term Life Insurance | November 13, 2006, 2:01 pm |
| Term Life Insurance | October 1, 2007, 2:33 pm |
| Term Life Insurance in later years | January 15, 2008, 5:15 am |
| Term Life Insurance Coverage | January 27, 2008, 12:21 pm |
| Source of info on long term care insurance | October 24, 2006, 7:20 pm |
| Laddering Muni Bonds vs Muni Bond Fund | October 8, 2006, 10:43 am |
| Can a short term capital loss balance long term capital gains? | October 19, 2008, 8:11 am |
| LTD Insurance | February 11, 2007, 7:08 pm |
| A term life question | April 22, 2007, 11:08 am |
| Long Term Goal | October 25, 2007, 5:06 am |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap