How much should I spend per month for life insurance?

David · Joined: 12 Feb 2005 Posts: 7

I was lucky because my grandfather started a life insurance policy for me when I was about 14 years old that I heve recently taken over. Right now I pay about $25 per month for the plan. I haven't studied it too carefully, but I have been assured that it is a good policy. I was thinking about increasing the payments, but I wanted to know a good method for determining future need.

Guest

David wrote: I was lucky because my grandfather started a life insurance policy for me when I was about 14 years old that I heve recently taken over. Right now I pay about $25 per month for the plan. I haven't studied it too carefully, but I have been assured that it is a good policy. I was thinking about increasing the payments, but I wanted to know a good method for determining future need.
Never heard about life insurance?
What you get with it?
Once someone is dead, all payment to his family ??

Guest

David wrote: I was lucky because my grandfather started a life insurance policy for me when I was about 14 years old that I heve recently taken over. Right now I pay about $25 per month for the plan. I haven't studied it too carefully, but I have been assured that it is a good policy. I was thinking about increasing the payments, but I wanted to know a good method for determining future need.
Never heard about life insurance?
What you get with it?
Once someone is dead, all payment to his family ??

wizard · Joined: 12 Feb 2005 Posts: 4

I will give this an try surely!If it does its awesome, it will support the family! :)

wizard · Joined: 12 Feb 2005 Posts: 4

Well seems like its like once a person is dead,those funds are given to his family!

David · Joined: 12 Feb 2005 Posts: 7

There are many different forms of like insurance. Often life insurance is purchased as an investment, and then you can borrow against the policy in later years, so it is not just something that is given to others.