Monday, February 11, 2008
Outline your purpose for life insurance
Q. MY WIFE AND I agree that I need more life insurance but I am not sure as to what type of insurance I need. I'm an 42-year-old with two children, ages 9 and 10.
I have $300,000 of life insurance provided by my employer. We have a $195,000 mortgage, our total savings is $73,000 which includes my 401k. My wife said a radio talk show host advises buy term and invest the difference and at age 65 or so we will not have need for life insurance because the mutual funds will be sufficient amount of protection at retirement. We do not like a lot of risk, what would you advise?
Hattiesburg American: Outline your purpose for life insurance
I have $300,000 of life insurance provided by my employer. We have a $195,000 mortgage, our total savings is $73,000 which includes my 401k. My wife said a radio talk show host advises buy term and invest the difference and at age 65 or so we will not have need for life insurance because the mutual funds will be sufficient amount of protection at retirement. We do not like a lot of risk, what would you advise?
Hattiesburg American: Outline your purpose for life insurance
Permalink posted by markw @ 9:01 AM 
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