"How much?" That depends on a lot of personal circumstances but, if you're reading this [+], the correct answer is probably denominated in millions. [+] Assumptions: "substantial earning power", "relatively young", "peak earning years well ahead of you", "low liquid net worth."
-
-
Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
What would you suggest as a good way to figure out what type of life insurance to get? (Aside from talking to a salesperson.) There are tradeoffs between term and permanent. I've been reading about different types, but still feel disoriented.
-
If you trust me to give you advice, the right choice for tech people is term, and the right term is "lasting past the point in your career where you have a reasonable expectation of having substantial liquid assets." My knowing-nothing-about-circumstances recommendation: 10 yr.
- 6 more replies
New conversation -
-
-
If I own a term life insurance already, should I extend its coverage amount or buy another policy on top of that?
-
Math it out but, in my personal life, the right answer always seems to be "Just buy a new policy and layer it on the old one." This is resulting in a coverage graph which steps down gradually over a period of a few years, which (as of this moment) seems reasonably plausible.
- 1 more reply
New conversation -
-
-
As a business we also hold key-man insurance, which is similar and supports the “hit by a bus” scenario in our partnership agreement.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
i keep telling
@thomasfuchs this, to protect my sick ass, but he thinks it’s weird. go get him!!Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
I would make sure the term covers you until your kids are out of college.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Calculate your expected remaining after-tax life earnings and get that much for the next five or so years. As you age, the amount will go down, as you earned that income. You should have little as you near retirement, as there is little risk left for unrealized earnings.
-
Treat it like a CD ladder, with the caveat that if you are well enough off and you have enough saved to take care of your family, then you can simply be self-insured.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.