Do You Have Life Insurance

Not anymore. Until our kids were grown we had a million dollar term life (and disability) policy on DH and half that on me (he was the bigger earner). Later, we had quarter million dollar policies on each other to plump retirement funds of a surviving spouse, but ditched those policies about 5 years ago.

We were insuring against surviving family members being financially devastated in the case of a catastrophic loss of DH and/or me. Should we both have died, we didn't want our kids moving in with BIL & SIL with little more than their hats in their hands.
 
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Yes, I have a life insurance policy which I continue to maintain for the benefit of our daughter. I have not made any payments for over ten years and the cash value still continues to increase. I will never need the money and my daughter will get the benefit tax free after I pass. If I cashed in the policy I would likely have a tax liability.
 
Yes I have a modest policy I've had forever. It was paid off years ago. I'm hoping that since I paid for my burial plot, including opening and closing fees, the policy through my retiree benefits will be enough to pay the funeral home. That way my son can keep the money that the private policy will pay when I "kick it".
 
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