Originally Posted by ferco
The question is, at what point is it reasonable/ prudent to waive the term policies which at 25/15k certainly cover the funeral expenses (est 8-9k) and have a little left over or drop the term policies and pick up the preneed policies which cover some, but not all of the funeral expenses BUT have a reduced monthly premium cost today.
Still not enough info.* Are they both in good health?* Do they have other assets to include cash?
If the husband passed today, how important would the excess insurance money be to the widow?
You imply that they would pay for the funeral plan monthly.* What is the interest rate?
I've seem some with credit card like rates.
All these issues are important.