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Non-Cattle Specific Topics
Every Thing Else Board
term or whole life insurance
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<blockquote data-quote="John SD" data-source="post: 1189948" data-attributes="member: 14713"><p>Depends on what you mean by "final expenses". If you are talking about funeral expenses, I don't see the point of insurance for that. Why not just pre-plan/pre-pay and write the check now? </p><p></p><p>I did that a couple years ago. Pre-paying my funeral was my Christmas gift to myself <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite7" alt=":p" title="Stick out tongue :p" loading="lazy" data-shortname=":p" /> The price is NOT guaranteed due to the low interest rates today, but there wouldn't be a whole lot of cost over and above what I paid. I picked out a vault, casket, and service package that cost a shade over $8K. The funeral home puts the money in the local bank.</p><p></p><p>Dave Ramsey recommends 10-12X your annual income in term insurance for young families. Dave's advice doesn't always translate well to farmers and ranchers, but IMO you should have enough life insurance or other cash assets so that if you kicked the bucket tomorrow, your spouse wouldn't be forced to sell out.</p></blockquote><p></p>
[QUOTE="John SD, post: 1189948, member: 14713"] Depends on what you mean by "final expenses". If you are talking about funeral expenses, I don't see the point of insurance for that. Why not just pre-plan/pre-pay and write the check now? I did that a couple years ago. Pre-paying my funeral was my Christmas gift to myself :P The price is NOT guaranteed due to the low interest rates today, but there wouldn't be a whole lot of cost over and above what I paid. I picked out a vault, casket, and service package that cost a shade over $8K. The funeral home puts the money in the local bank. Dave Ramsey recommends 10-12X your annual income in term insurance for young families. Dave's advice doesn't always translate well to farmers and ranchers, but IMO you should have enough life insurance or other cash assets so that if you kicked the bucket tomorrow, your spouse wouldn't be forced to sell out. [/QUOTE]
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