re: Life insurance questions\advice

quote:

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I hate to go Dave Ramsey here, but there's no reason to have life insurance past your 50s unless you completely suck at saving money.

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Totally disagree.. My old man passed away suddenly last year at the age of 65. He was self employed so he doesn't have a pension to leave my mom. My mom was 61 at the time, still working. Because of her age and her salary she wouldn't get any of my dads social security. When she retires and reaches full retirement age of 67 because she has a good pension she may receive a few hundred dollars. My parents had some savings and 401K but without the life insurance I don't know how my mom would make it the rest of her life. My old man had some whole life and had a 20 year term policy that was gonna expire when he turned 70.

50 if young people. My moms mom is 92. 42 years is a long time to live on just a fixed pension.

Also.. it cost $25,000 for the funeral and burial plots for my dad. Unless you are prearranging that's a huge cost you get hit with right away. And let me tell you the funeral home and cemetery isn't doing shite until they secure their $$.