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May 20, 2019
9:16
:42
am
Kauai
3rd String
My grandpa kept life insurance to pay the inheritance tax after he passed so we
didn't have to sell anything. Thankfully he died in 2010 when there was no estate tax because the law temporarily expired in 2009.
The family of George Steinbrenner saved an estimated $500 million tax bill that year.
This message has been modified
Originally posted on May 20, 2019 at 9:16:42am
Message modified by Kauai on May 20, 2019 at 9:18:03am
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Kauai
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Kauai
Joined
Oct 22, 2018
Last login
Jun 9, 2024
Total posts
4,677 (4 FO)
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Messages
Author
Time
POLL: At what age do you drop life insurance / not worry about having it?
Richbyu
5/20/19 9:05am
Less about age and more about economic condition. I'll stop buying life insurance when my death would no longer
Cosmodiar
5/20/19 9:07am
I thought life insurance was insanely expensive if you are old, though.
Richbyu
5/20/19 9:08am
Depends on what type of policy. My term policy is locked in at my current rate.
chago04
5/20/19 9:15am
Doesn't need to be. As you age your rates go up but the amount you need should decrease.
kccougar
5/20/19 9:23am
This is my approach as well.
Eddie
5/20/19 9:10am
When you can die without your family being negatively affected financially
KingDave
5/20/19 9:10am
When my term expires and it gets insanely expensive
LaserCoug
5/20/19 9:15am
My grandpa kept life insurance to pay the inheritance tax after he passed so we
Kauai
5/20/19 9:16am
Whole or term?
kccougar
5/20/19 9:20am
Term
Richbyu
5/20/19 9:21am
If you have adequate savings for retirement, and don’t have young kids at home,
chilango
5/20/19 9:21am
When your income is no longer dependent on you working.
Sooner Cougar
5/20/19 9:55am
^^^BINGO^^^ Multiple streams of passive income beats insurance policies...
CougarThug
5/20/19 10:21am
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