Joined Dec 2006
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Forum Thread
Do you buy life insurance? How much is the death benefit?
November 9, 2010 at
07:53 AM
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Question
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So you are either sale rep. or underwriter. cool.
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I try to go outdoors, but I've been busy with life. Been to red-river gorge this year (one of the biggest sports/trad climbing areas near me) -- it was awesome. Pushed my limits well beyond what I've sports-lead indoors, lol.
You?
Metlife, sunlife, john hancock?
fireman.
It's a whole life policy. Because we took it out on him when he was born, it's crazy cheap. And it's a locked-in rate for life. So as long as we (and he, after we die, which I'm hoping is the case) continues to pay the premiums, it's a guaranteed $50K in the event of his death, whenever that may be (I'm hoping he'll be at least 80, and I'll be long gone ). We'll most likely write another policy in the next decade for him, as our income increases.
So if he ever encounters some kind of medical problems that prevent him from acquiring any more life insurance, he'll at least have that.
It's something we can do now that costs us very little that could be of a huge help later if and when he has a family of his own.
I try to go outdoors, but I've been busy with life. Been to red-river gorge this year (one of the biggest sports/trad climbing areas near me) -- it was awesome. Pushed my limits well beyond what I've sports-lead indoors, lol.
You?