What is the name of your state? NY
Hi, Currently have a whole life policy worth 500k which i pay $300 per month. If something happened to me, this would be enough to pay off the mortgage, but would leave very little to care for my 2 children, ages 7 and 9.
I'm thinking of converting to term life for 20 years @ $1.5mil. is this adviseable? Would I even want to pay off the mortgage, since that would be assuming that their guardian would want to live there?
Thanks.
Hi, Currently have a whole life policy worth 500k which i pay $300 per month. If something happened to me, this would be enough to pay off the mortgage, but would leave very little to care for my 2 children, ages 7 and 9.
I'm thinking of converting to term life for 20 years @ $1.5mil. is this adviseable? Would I even want to pay off the mortgage, since that would be assuming that their guardian would want to live there?
Thanks.