Don’t forget to ladder your coverage. One lump sum isn’t a good design

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Dec 13, 2024
1:55:23pm

Acorn All-American

Don’t forget to ladder your coverage. One lump sum isn’t a good design

Better than no insurance though.

This message has been modified

Originally posted on Dec 13, 2024 at 1:55:23pm

Message modified by Acorn on Dec 13, 2024 at 1:56:36pm

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Acorn

Bio page: Acorn
Joined: Nov 25, 2004
Last login: Dec 13, 2024
Total posts: 19,638 (2,456 FO)

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Messages

Author

Time

If you have dependents and you don’t have term life insurance

Coog4Life

1:47pm

Name checks out

88Coug

1:48pm

7x ?!

1:48pm

Right? Why so little?

volleyjiver

2:12pm

Ned Ryerson????? Is that you?

Magneto

1:50pm

RE: Ned Ryerson????? Is that you?

reagan21

1:50pm

<< Deleted >>

BlueFever

1:52pm

That first step is a doozy

1:51pm

Senior year, he got shingles really bad.

reagan21

2:00pm

"got the shingles real bad senior year and almost didn't graduate"

Belboz

3:03pm

Needle nose Ned? Ned the head?

Belboz

3:03pm

7x is kind of crazy unless you have a lot of debt.

allaboutthegainz

1:50pm

I'd say pay off all debts, bury you & college expenses for minor children.

Soupie

1:52pm

Ok, go 5x. The point is don’t leave your spouse in a situation

Coog4Life

1:52pm

Wife graduated nursing school yesterday I have a crappy free term life from work

Covid-19

2:00pm

For the average person, the difference between 5x and 7x is a couple bucks.

2:05pm

My dad died in 2000 and had 250 K, which was probably 7-8 times his salary. I’d

cougaman

2:42pm

7 x $0= $0 so I guess I’m good

pegushin

1:52pm

Meh, if you are wealthy, you don't need life insurance

Jericho

1:55pm

It's a dollar amount imo vs a multiple. Anything over 750k-1 million is good.

CSoul

1:55pm

Don’t forget to ladder your coverage. One lump sum isn’t a good design

Acorn

1:55pm

Also, get a will so your family can avoid probate.

Jdoc

1:56pm

A will doesn’t avoid probate but it does send your kids to be raised by

Acorn

1:57pm

Best insurers to use?

Odysseus

1:59pm

Zander offers multiple options

SwanSong

4:07pm

Why the heck dose my family need 150 million life insurance policy

JohnnyC

1:59pm

This is the way

Covid-19

2:05pm

Just hope your wife isn't like my MIL, who took all the money she received

88Coug

2:02pm

That's wild

Covid-19

2:05pm

and highly common. When I was doing probate work, 85% of it

reagan21

2:14pm

If there was a trust and the FIL wanted to leave money to his kids he would have

reagan21

2:10pm

Sadly this is not uncommon.

Baron

2:14pm

I honestly don't care to leave anything to my adult kids

Belboz

3:07pm

It was never our intention to leave our kids anything. We just did what we thought was the

Soupie

3:10pm

I hope to leave my grandkids a good amount. I would love for them to be able to get a head start on business and owning

Baron

4:14pm

Wow this Christmas will be a little awkward if they’re visiting you guys

SwanSong

4:08pm

I only hit 7x with my accidental death and dismemberment escalator

AggieWeekendCougar

2:06pm

That's sounds like an escalator I would not want to ride

ryebrye

2:08pm

Escalators can never break down, they can only become stairs. You will never

reagan21

2:12pm

Don't use a multiplier. Pick an amount that will cover your situation.

Baron

2:14pm

I’ve delivered a life insurance check to a new widow.

ThatBYUFan

2:45pm

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