I was asked to help someone find a life insurance solution as I listened to their story and wants and needs. They had come for term life insurance, but I shared what if we looked at permanent insurance. Their needs were not great, just wanting to cover the funeral cost and a little for their family. I looked at both options of term and permanent.
I suggested a small $25,000, 20-year pay, paid-up addition with foresters.
This fits their budget and their kids would not have to pay for the funeral, which was the goal. A paid-up addition means the death benefit would grow a little every year. At the same time, Foresters has some excellent side membership benefits that they can access now and their kids. Read more here about their benefits.
Do you know someone 50 plus who needs to think about estate planning?
Perhaps a conversation with your parents needs to happen around estate planning? The sooner one does this, the better.