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The Watercooler
What do we know about Life Insurance?
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<blockquote data-quote="Scent of Cedar *" data-source="post: 690631" data-attributes="member: 17461"><p>On the other thread, the decision was to begin a joint bank account for the child or children in question. That way, the child owns the account, too. When we are gone, the child gets access to the account. Nothing to do with a Will or probate.</p><p></p><p>So I am thinking about that. My specific question has to do with what happens if we outlive the insurance we buy. Is that money just gone? When I try to research these questions online, I am inundated with insurance company ads. Every one telling me why they are best and suggesting I need to talk to an agent. </p><p></p><p>I think I will begin with the company who carries our house and auto insurance.</p><p></p><p>That will give me something to compare to in the real world.</p><p></p><p>Thank you everyone for your comments and insights.</p><p></p><p>We are in our sixties, too. Premiums will be very high for us. The problem with beginning a joint banking account is just going ahead and doing it. But for both kids and all grands, that would be eight accounts.</p><p></p><p>So we are back to the insurance question.</p><p></p><p>I am still exploring how to do this.</p><p></p><p>Thanks, thanks, thanks, everybody.</p><p></p><p>Cedar</p></blockquote><p></p>
[QUOTE="Scent of Cedar *, post: 690631, member: 17461"] On the other thread, the decision was to begin a joint bank account for the child or children in question. That way, the child owns the account, too. When we are gone, the child gets access to the account. Nothing to do with a Will or probate. So I am thinking about that. My specific question has to do with what happens if we outlive the insurance we buy. Is that money just gone? When I try to research these questions online, I am inundated with insurance company ads. Every one telling me why they are best and suggesting I need to talk to an agent. I think I will begin with the company who carries our house and auto insurance. That will give me something to compare to in the real world. Thank you everyone for your comments and insights. We are in our sixties, too. Premiums will be very high for us. The problem with beginning a joint banking account is just going ahead and doing it. But for both kids and all grands, that would be eight accounts. So we are back to the insurance question. I am still exploring how to do this. Thanks, thanks, thanks, everybody. Cedar [/QUOTE]
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What do we know about Life Insurance?
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