Need help on Life insurance !!

[goofywife]

We have both a larger term policy and a small whole life policy. The term policy will gradually cost more when it comes up for renewal. We put 20 renewable on them, so the price is locked in. The whole life price will always be the same. We get great rates by combining all (car, house, & life) of our insurance from the same company. That can be bad if it ever goes belly up.

Our plan is that if one of us dies, the other has enough life insurance to pay off the house, so that the one left will not loose it (it takes both our salaries). Eventually the term life will get to expensive as we retire (get old) and we will just have the whole life. But who knows, maybe the prices will still be affordable.


Anyhow that is our plan.