AVOID Northwestern. I did say use a FP who isn't tied to one company. There are many options who's number one goal is to not maximize life ins sales.You’re telling me the financial planners at Northwestern aren’t the same thing?
AVOID Northwestern. I did say use a FP who isn't tied to one company. There are many options who's number one goal is to not maximize life ins sales.You’re telling me the financial planners at Northwestern aren’t the same thing?
AVOID Northwestern. I did say use a FP who isn't tied to one company. There are many options who's number one goal is to not maximize life ins sales.
PM sent.If anyone needs a financial planner in Ames, just send me a PM. I am happy to make recommendations.
Anyone saying do this or do that doesnt have enough info from the original poster to really say what the best approach is.I can't decipher the sarcastic responses from the legit ones in this thread.
Financially secure, kids grown, wife is attractive and would find a rich husband after me so why the f would I have life insurance?
Anyone saying do this or do that doesnt have enough info from the original poster to really say what the best approach is.
Financially secure, kids grown, wife is attractive and would find a rich husband after me so why the f would I have life insurance?
I honestly had no idea there were this many options. I assumed you paid a premium and my wife would cash a check if I croaked which is term life from what I’ve gathered in this thread. I bought into my old companies life policy after college and that was enough.
I’m just looking out for my wife if something happened to me. She doesn’t work and we’re about to have a third kid. I’m definitely more interested in having that money available to her if something happened to me in the short term.
Financially secure, kids grown, wife is attractive and would find a rich husband after me so why the f would I have life insurance?
Good advice. I’ve used the income replacement rule. Get enough to replace you income until retirement. Especially if you have young children, mortgages, other debts, etc.
I honestly had no idea there were this many options. I assumed you paid a premium and my wife would cash a check if I croaked which is term life from what I’ve gathered in this thread. I bought into my old companies life policy after college and that was enough.
I’m just looking out for my wife if something happened to me. She doesn’t work and we’re about to have a third kid. I’m definitely more interested in having that money available to her if something happened to me in the short term.
Around 10 times your annual income is the rule I've always heard.That’s like a 3-4 million dollar policy not including cost of living increases. Do people use this as a rule for selecting life insurance? Seems excessive.
That’s like a 3-4 million dollar policy not including cost of living increases. Do people use this as a rule for selecting life insurance? Seems excessive.
My wife doesn’t work outside the home and we have a young family. I have a term policy that is about my annual income x 10. I figure if something happens to me, my wife can invest that lump sum at roughly 8% and maintain our current lifestyle with just barely dipping into the principal.
Regardless of your thoughts on Dave Ramsey as a whole, his stance on life insurance is spot on for your situation. Google his name and life insurance and follow the advice he gives.