Sentences with phrase «carry life insurance on their child»

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Even if they do not yet have dependents (children of their own), millennials may also wish to consider life insurance if they provide financial support to their parents or carry student loan debt for which a family member has co-signed, said Reardon, noting term life insurance on young, healthy adults «is incredibly cheap.»

How much life insurance you should carry depends on how much debt you have, how much income you need to replace and the cost of any future obligations you want to fund, such as a child's college tuition.

Most parents stop carrying life insurance after their children are out of college or on their own.

The benefits of life insurance coverage are plentiful and guarantees that if you pass away, the people that you appoint at beneficiaries will receive a death benefit in order to carry on your wishes such as cover outstanding medical bills and other debt, pay for burial and funeral services, create a college fund for your children and more.

Now, when your friend asks you how much life insurance you carry on your children, tell them you bought a guaranteed insurability policy so that when your child grows up, they are going to be able to buy insurance no matter what there health is.

Ask your friends how much life insurance they carry on their children.

Unless you have a child that will be dependent on you for life due to a physical or mental disability, you have absolutely no obligation to carry life insurance for them past the point where they go out on their own.