Announcement

Collapse
No announcement yet.

Life Insurance and 529

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Insurance exists for one, primary purpose—to protect the people who depend on your income if you die. If you do not have dependents you may NOT need it.

    People who need life insurance probably need a lot of it—say, eight to ten times income. Large policies aren’t expensive if you buy term insurance.

    Term does get more expensive as you age.

    Cash-value coverage makes sense for people who can afford it and won’t borrow against it. That would be you, if:

    –You’re rich and want life insurance to pay your estate taxes.

    –You’re rich and buy a policy so you can leave more money to your heirs tax free.

    –You have a special-needs child who will need support for life.

    –Your term insurance is coming to an end and you still need coverage–maybe because you divorced, remarried and had a second family. Look first at buying another but smaller term policy (you’re older so you need less coverage than you did before). If you’re healthy, term will be the least expensive choice.

    The best life insurance is there the day you die.  

    529 Plan, go for Utah,New York, Ohio...

    Comment


    • #17


      2) If living in a state without 529 plan and no state income taxes, which state is recommended best to join their 529 plan?
      Click to expand...


      The Utah Education Savings Plan is a 529 Plan that offers great investment options from both Vanguard and DFA along with very low expenses.

      Comment

      Working...
      X