Re: How Much Life Insurance Do You Have?
I've got $1.25 million on me and about 150K on my wife. I used to have more, but last time I did a review with my agent, we determined I was overinsured. That was a few years ago and I'm planning another review soon. I think I am again overinsured. As our debts decrease, our assets increase, and our daughter gets older, our need for insurance gradually decreases.
pearlieq - Both of you need coverage. Term life is dirt cheap today. Well worth the cost.
Also, if any of you have term policies that are 5 or more years old, you may well be overpaying as rates have dropped significantly. Call your agent and get a fresh quote. You may be able to save money by swapping to a new policy.
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Steve
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