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The Water Cooler
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Life Insurance and death requests
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<blockquote data-quote="CHenry" data-source="post: 2535910" data-attributes="member: 6281"><p>Life insurance has one main purpose. Too replace my income if I die so my wife can continue her standard of living until the debt is paid off - or she can just pay off the debt and be done. No way do I want to be worth more dead than alive and once our house if paid for, the insurance stops or I may choose to drop it to an amount that will cover burial cost or whatever she chooses to do. With that said, I am insured for $220k and I pay $24 a month for that. It terms out once I retire in 5 years and the house will be paid off before then.</p></blockquote><p></p>
[QUOTE="CHenry, post: 2535910, member: 6281"] Life insurance has one main purpose. Too replace my income if I die so my wife can continue her standard of living until the debt is paid off - or she can just pay off the debt and be done. No way do I want to be worth more dead than alive and once our house if paid for, the insurance stops or I may choose to drop it to an amount that will cover burial cost or whatever she chooses to do. With that said, I am insured for $220k and I pay $24 a month for that. It terms out once I retire in 5 years and the house will be paid off before then. [/QUOTE]
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