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So I was thinking..Since my husband and I have just bought a house last year and now we are expecting our first child. I think it's time to get some life insurence. Does anybody have any suggestions about life insurence. Any body have any words of wisdom?
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TERM, TERM, TERM and NOTHING BUT TERM.
How's that?
Seriously, get some online quotes and buy a 20 or 30-year level premium term policy. As for the amount, the rule of thumb you'll hear is 10 times income, and that's a decent starting point, but you need to work from there based on your situation. Sit down and figure out what you want the insurance proceeds to cover. Do you have a lot of student loan debt? How big is the mortgage? Do you both work? Are your incomes similar or does one earn a lot more than the other? Lots of details factor into how much you need.Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going. -
This site has a some good articles on life insurance:
TermLifePolicy.com: The Responsible Way to Lower your Life Insurance Costs
(Full disclosure--I ghost-write for this site occasionally. That means I can vouch for the research on their longer articles!)Comment
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Thankyou for your suggestions!Comment
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