I have read many answers about term vs. whole life insurance. Maybe I am dumb, but I am still confused with all the options and blah blah blah. Here is my situation and please suggest what I should do as far as life insurance.
1. My husband (works for state, $60,000/yr) is the only one working.
2. We are both 32 years old this year.
3. We have 1 son (age of 1)
4. We own a house which is paid off (renting out right now)
5. We would like to purchase another house in the near future (1-2 years)
6. We would like to have another child.
7. I have a college degree so I can work if I want to in the future
8. We have a college fund set up for my son and plan to have him work to pay for part of his college.
9. We have Roth IRA and 457 for retirement. Not so much$$
10. My husband just wants to make sure that my child(ren) and I will have enough money if something were to happen to him.
Now, what should we do about life insurance? I know we will get other insurance (accidental).
2007-07-13
18:57:06
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10 answers
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asked by
ccmdolphin
2