I am trying to reduce my personal expenses. Recently i found out I pay about $20k PA for various life insurances. For example if I die,my wife gets $1.8mil. If she dies I get $1.2 Mil. If i get disabled we get like $600k and a similar amount if either of us have a heart attack or stroke.
Our broker worked this out based on what loans we have. For example. We have about $1.2Mil of loans.
But geeze. $20k PA seems nuts.
I’m thinking about at least dramatically reducing my wifes death insurance since I can still earn a good income. Plus most of the $1.2Mil is business loans which we should be able to sell off. Our home loan is only $150k and our home is worth about $1mil.
Does anyone have advice around this ? We are both 50.
Thank you .
Submitted March 16, 2019 at 08:33PM by Businessjett https://ift.tt/2Y4rdET
