Hi, I'm 58 and my term life insurance expires in three years when my youngest child graduates college.
I have no debt and have a networth of $6.5M (IRA and non-IRA) plus my primary house.
I've thought about just cancelling my term insurance now but it is only $90 a month figure not worth it for only 3 years left.
A friend is advising I should get new life insurance so I can leave money to my kids and be more free to spend the nest egg that i have for myself/wife versus being worried I leave enough for my kids.
Do you still have life insurance? If so what type? If not what age or net worth did you elect to stop having it?
I have no debt and have a networth of $6.5M (IRA and non-IRA) plus my primary house.
I've thought about just cancelling my term insurance now but it is only $90 a month figure not worth it for only 3 years left.
A friend is advising I should get new life insurance so I can leave money to my kids and be more free to spend the nest egg that i have for myself/wife versus being worried I leave enough for my kids.
Do you still have life insurance? If so what type? If not what age or net worth did you elect to stop having it?