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Term life insurance 'should be maintained until children graduate'
September 08, 2010
A term life insurance policy should last until children graduate from university, it has been suggested.
People who take out term life insurance in order to protect their financial dependents have been advised to ensure the policy lasts until their children graduate.
Writing for Men's News Daily, David Marotta explained that people, like himself, who are turning 50 will often be at a stage where their children are leaving the family home.
He pointed out that while it may be okay to drop term life insurance - depending on individual circumstances – once the younger generation are making their first steps into the world of work, it is ill-advised to do so while they are completing their studies.
"We purchased the insurance to make sure our children would have enough money to complete their education," said Mr Marotta.
Earlier this week, CBS Moneywatch blogger Carla Fried explained that term life insurance is a "ridiculously affordable" policy for families to consider, as premiums are generally smaller than other forms of cover.
Posted by Sue Clarkson
Term Life Insurance
