Thanks for sharing this analysis! While I understand the formulaic representation of no *need* for life insurance on Kurt, I’m curious what your thoughts are on a small term policy in order to cover medical costs should Kurt be diagnosed with a cancer or other diagnosis that requires steep healthcare costs prior to an untimely death? Also if Kurt & Kathy divorce, Kurt may be unable to qualify down the road should he end up needing life insurance. The low cost of a basic term policy seems to make sense here.
Hi Kristin! Thank you for reading and participating. I am okay with a small policy that is framed to take care of uninsured health expenses near death. The key is max out-of-pocket of the insured’s health insurance contract…..Better would be if Kurt had an HSA with a high-deductible health plan. If so, that is how I would personally manage the risk you describe…..
Thanks for sharing this analysis! While I understand the formulaic representation of no *need* for life insurance on Kurt, I’m curious what your thoughts are on a small term policy in order to cover medical costs should Kurt be diagnosed with a cancer or other diagnosis that requires steep healthcare costs prior to an untimely death? Also if Kurt & Kathy divorce, Kurt may be unable to qualify down the road should he end up needing life insurance. The low cost of a basic term policy seems to make sense here.
Hi Kristin! Thank you for reading and participating. I am okay with a small policy that is framed to take care of uninsured health expenses near death. The key is max out-of-pocket of the insured’s health insurance contract…..Better would be if Kurt had an HSA with a high-deductible health plan. If so, that is how I would personally manage the risk you describe…..