bmillerware
New member
We are trying to decide how to structure our term life policies, any suggestion would be appreciated.
38 M and 37 F, with a 6 months old and 3 year old kids. We will be buying a new house around 800k sometime soon. We make 250k each.
I think we need 3M in total coverage, 1M for mortgage hopefully it will be paid in 15yr but who knows could take 30 too..., around 2M for the kids until they get to 25 yrs old.
For wife the quote is around $160 a month for 3M 30yr, for me its going to cost around $500 a month for 3M 30 yr.
How would you structure the policies for a realistic and reasonable costs?
I am thinking leaving 3M 30 yr for wife, but laddering mine to 1M 15yr and 1M 20yr and 1M 30yr, but feels like its bit unfair that we both don't have same coverages for each other.
Please suggest, thanks.
38 M and 37 F, with a 6 months old and 3 year old kids. We will be buying a new house around 800k sometime soon. We make 250k each.
I think we need 3M in total coverage, 1M for mortgage hopefully it will be paid in 15yr but who knows could take 30 too..., around 2M for the kids until they get to 25 yrs old.
For wife the quote is around $160 a month for 3M 30yr, for me its going to cost around $500 a month for 3M 30 yr.
How would you structure the policies for a realistic and reasonable costs?
I am thinking leaving 3M 30 yr for wife, but laddering mine to 1M 15yr and 1M 20yr and 1M 30yr, but feels like its bit unfair that we both don't have same coverages for each other.
Please suggest, thanks.