Quote:
Originally Posted by retiredguy123
The 250 k to 1.5 million formula seems like a good approach. But, if you are young enough, save the premiums, stay healthy, and accumulate the 1.5 million. Chances are you will never collect enough in benefits to justify the insurance premiums. If you are concerned about your heirs, let them pay the premiums.
|
You are absolutely correct-if the kids stand to inherit a nice sum, get the kids to pay your premiums. Well, we pay our own as our children are still younger professionals, but my husband is a CPA and always says the kids should pay it. Theoretically....If you have older kids, you stand a better chance of being successful on that request!