Life insurance help
CurlXTCee
Registered Users Posts: 379
How best to approach finding affordable life insurance? Admittedly I know NOTHING about life insurance.
Term vs. whole?
Our ages are mid 50s and and late 40s, both without major health issues, although my BP two days ago was 153/113 - the highest recorded BP I've ever experienced. I've been under a great deal of stress and recently stopped exercising, both of which contribute to this number greatly, I'm sure.
My goal is to ensure that the beneficiary will have enough to live out the rest of his/her days with careful budgeting and investing or to nicely supplement income if still working. I'm hoping for a minimum of $300,000 - which I realize is hardly enough upon which to live happily ever after, but it's a start, and sadly it's far more than either of us has at this point or will ever hope to have by income alone. I believe that for a single person at our current standard of living, $300K could go a long way. We live relatively simply and frugally.
Term vs. whole?
Our ages are mid 50s and and late 40s, both without major health issues, although my BP two days ago was 153/113 - the highest recorded BP I've ever experienced. I've been under a great deal of stress and recently stopped exercising, both of which contribute to this number greatly, I'm sure.
My goal is to ensure that the beneficiary will have enough to live out the rest of his/her days with careful budgeting and investing or to nicely supplement income if still working. I'm hoping for a minimum of $300,000 - which I realize is hardly enough upon which to live happily ever after, but it's a start, and sadly it's far more than either of us has at this point or will ever hope to have by income alone. I believe that for a single person at our current standard of living, $300K could go a long way. We live relatively simply and frugally.
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