Quote:
Originally Posted by Dentoman
Based on his info, he really has nobody who would absolutely require money from his estate .... he doesn't need the insurance.
|
Failure to plan = Planning to fail. The only bad thing about insurance is that you can't get it when you need it. I guess if you can guarantee his insurability for the next 10-20 years your point is somewhat valid but that would also require that he has no assets and plans to leave some surprises in his estate. Not the most popular thing to do imo. Someone has to pay for it....I bought my first policy when I was 21/living in residence/with no dependents that I was aware of at the time. The policy was less than a case of beer every month and I have since converted it to a UL policy. For an extreme example of the effects taxes can have on ones estate look at Elvis Presley who died with an estate of $10,165,434 and after settlement, he lost $7,374,635 and his estate was left with $2,790,799, a 73 percent shrinkage and we all know that he was young and invincible....don't leave behind problems but rather solutions....