Helping a friend for term.. etc

[PhxSunsFan]

male.. non smoker.. perfect health . blood work ok.. 04/07/1979

wife and 3 kids... looking for term for the kids... might divorce wife.. wants to leave enough for the 3 kids for 10 years.. if an accident were to happen

thoughts on monthly term? 100K? 200K? thanks

 

[PhxSunsFan]

lives in CA. non smoker.. etc

 

[PhxSunsFan]

looked at MOO accid coverage till age 80.. $22.00 150,000, 33.91 250.000 and 63.44 for 500,000...

 

[Tahoe Ray]

looked at MOO accid coverage till age 80.. $22.00 150,000, 33.91 250.000 and 63.44 for 500,000...

My opinion only: Accident insurance is largely garbage. Buy your client real term insurance, set up a trust for the kids, name the trust as the beneficiary.

200k in CA (in a lot of areas) will cover expenses for a few years only. The amount of DB will be based on his income and future needs for children (in addition to his spouse's ability to replace his income/alimony/child support)

Also, keep in mind that he'll probably have a divorce decree that mandates life insurance if he's forced to pay alimony/child support.

Maybe look at splitting this with someone who knows this market. @WinoBlues is in CA and I've heard that he's an o.k. agent...

 

[Allen Trent]

blood work ok.. 04/07/1979

I think they will want more recent blood work than from 1979.....but, man was that a fun year & simpler times back then.

 

[Tahoe Ray]

I think they will want more recent blood work than from 1979.....but, man was that a fun year & simpler times back then.

Yeah...I was two. Learning how to walk better, fitting the square block in the square hole, learning that apple starts with "A". Man, those were the days.

 

[WinoBlues]

[QUOTE="Tahoe Ray, post: 1383274, member: 36169"]Yeah...I was two. Learning how to walk better, fitting the square block in the square hole, learning that apple starts with "A". Man, those were the days.[/QUOTE]

Damn mean kids ...

 

[Tahoe Ray]

Damn mean kids ...

View attachment 6825

Hahaha...you know none of that matters:

 

[PhxSunsFan]

a trust for a term policy?? any low cost carriers that have lower rates when blood is pulled? large difference for term when blood is used for u/w ?

 

[PhxSunsFan]

20 yr term for 41 year old 38.00 500k. 23.00 -250k and 13.51 for 150k
30 yr term 65.00 37.60 29.63

30 yr term seems attractive>>??