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Family of Origin
Never disinherit your kid
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<blockquote data-quote="Copabanana" data-source="post: 690585" data-attributes="member: 18958"><p>You are right, seeking, it would be very expensive to get a whole life policy that would have a cash value upon death.</p><p></p><p>I copied this from CNN.com: </p><p></p><p style="margin-left: 20px">Premiums for cash-value policies are much higher. For example, the healthy 35-year-old man who pays $430 a year for a $500,000 term policy would pay about $4,400 a year for a $500,000 universal life policy - in part because a portion of that $4,400 is going into the investment component of the policy.</p><p></p><p>In a sense, a policy like this would be a savings account. Say at least one of you had a life expectancy of 90 years, and the youngest of you is say, 60. $4400 x 30 years equals about $130,000.</p><p></p><p>So that does not seem so bad. Except I do not know if in a joint life insurance policy the costs would be double!! How could anybody afford $8800 a year?</p><p></p><p>If you decide to research this bankrate.com has articles on insurance.</p><p></p><p>I am seething thinking about what your mother is doing. I wonder if Cedar has a point about seeking out an attorney to see if there is something that can be done legally, or not.</p><p></p><p>Except now I am thinking that perhaps the only thing to do is to accept. To just let it all go. Because any way you engage with her, even trying to fight her, she wins. That the only thing to do is to have a talk with your children and to explain and to prepare them for what will come.</p></blockquote><p></p>
[QUOTE="Copabanana, post: 690585, member: 18958"] You are right, seeking, it would be very expensive to get a whole life policy that would have a cash value upon death. I copied this from CNN.com: [INDENT]Premiums for cash-value policies are much higher. For example, the healthy 35-year-old man who pays $430 a year for a $500,000 term policy would pay about $4,400 a year for a $500,000 universal life policy - in part because a portion of that $4,400 is going into the investment component of the policy.[/INDENT] In a sense, a policy like this would be a savings account. Say at least one of you had a life expectancy of 90 years, and the youngest of you is say, 60. $4400 x 30 years equals about $130,000. So that does not seem so bad. Except I do not know if in a joint life insurance policy the costs would be double!! How could anybody afford $8800 a year? If you decide to research this bankrate.com has articles on insurance. I am seething thinking about what your mother is doing. I wonder if Cedar has a point about seeking out an attorney to see if there is something that can be done legally, or not. Except now I am thinking that perhaps the only thing to do is to accept. To just let it all go. Because any way you engage with her, even trying to fight her, she wins. That the only thing to do is to have a talk with your children and to explain and to prepare them for what will come. [/QUOTE]
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Never disinherit your kid
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