Quote:
Originally Posted by calgarygeologist
She basically said that her thinking was that a smaller life insurance policy, about $150000, would be a nice addition to her assets and that she would put the insurance beneficiaries as my kids and they can use the money for school or whatever.
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Personally I don't see the point. The whole idea of life insurance is to make sure your dependents are taken care of in the event of death, cover funeral costs, cover debts (ie mortgage), not as an inheritance for grand children. If she wants to help out with school or whatever why not just set up a fund instead of paying insurance premiums?