re: I found out I have a 10 year old son - Original Post and Update

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Go to my history. I posted the first post back in April.
I couldnt bump original post so I reposted OP so people could get first bit of information. Then added update to 2nd post.

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I remember reading it a while back. Can you add a link to your original thread in the first post? That might help clear up the confusion, especially since everyone is assuming you just made up this story in response to the other guy's found-out-I'm-a-dad thread.

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probably easier to find out you have a 10 year old son than to read all that.

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Fwiw, I read it all (well, almost all of it)

I thought you meant the policy only included your son. If you have your own policy and list him as the beneficiary, then in the event that you should pass he would certainly receive the death benefit. You have what is called a cash value policy. In theory you pay your monthly premiums and you receive life insurance AND a "savings account". the problem with the savings account is that youre not saving as much as you think. Many times people pay into their cash value policy for 3-5 years and when they check their cash value, they have little to no money. Thats because cash value life insurance is a product that the insurance companies devised so they could make more money. They in turn pay their agents more to sell it then they would for term life insurance. So what do you think happens? Many agents try to sell you as many "whole life" policies as possible so they can make more money. Many of the major consumerists such as dave ramsey and suzie orman suggest you buy term life insurance (which is life insurance that will cover you for a certain amount of time. for example, if you have a 35 year term policy for 400K and you are 30 now, then you will be covered for 400K up until your policy expires when you are 65. if you still NEED life insurance at that age you can purchase another term policy although by the age of 65 premiums can get pricy. the goal is that you will not need insurance at that age,) and invest the money you would save by having a term policy versus a cash value policy. As long as you have a competent financial advisor you should always have far more saved by using, in your case, a 529 college savings account made of of mutual funds, than you would with an insurance company's whole life policy. As a rule of thumb, Life Insurance policies are not a viable retirement plan. So, if this is a new policy you have, i would cancel it because you have no cash value yet, buy a term policy that would take you to around the age of 65 and invest the money you save (term policies are far cheaper than cash value policies) into another college savings plan for your son.

Wow, what a great story. God bless you coach and your son. Glad you kept pursuing the relationship and want to get involved in his life. Sounds like a great kid!!

If this isn't a troll

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In addition to college fund, I have set up a life insurance policy that once I pay off will take excess money and put into an account that I can cash out when he goes to college and I can give him for whatever else he needs

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Good start. Stay in contact without causing problems and when he turns 17/18 he can make his own choices how to be around you regardless of how the mother feels.

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iAmBatman

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TL;dr and neither will anyone else

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Your schtick is the worst one on this site. Not even funny, entertaining or anything. Just bland and lame.

What is going on around here?

women are the debil.

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Fwiw, I read it all (well, almost all of it)

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It always amazes me how the average OT poster considers themself better than the rest of society, yet they're scared to read words.