I am looking for a bit of advice from you financial gurus...
I am 33, single (divorced), no dependants.
From my married days I have 3 life insurance policies.
When we split up I decided against cancelling them (at my brokers advice - I was just too preoccupied to question him).
Now that I think about it more, I am spending $120/month for money that someone else is going to enjoy when I die.
I don't really plan on every re-marrying or having kids (but that could change I suppose).
I know this money can be invested elsewhere where I can enjoy it while I'm alive.
My ONLY hesitation is that IF I ever start a family, I will be quite a bit older, and insurance will be more expensive.
But, is it really necessary if the people that I might leave behind will be beneficiary of my other investments?
Here is where I need experienced voices to share their experiences.
Thoughts?
Thanks so much!
I am 33, single (divorced), no dependants.
From my married days I have 3 life insurance policies.
When we split up I decided against cancelling them (at my brokers advice - I was just too preoccupied to question him).
Now that I think about it more, I am spending $120/month for money that someone else is going to enjoy when I die.
I don't really plan on every re-marrying or having kids (but that could change I suppose).
I know this money can be invested elsewhere where I can enjoy it while I'm alive.
My ONLY hesitation is that IF I ever start a family, I will be quite a bit older, and insurance will be more expensive.
But, is it really necessary if the people that I might leave behind will be beneficiary of my other investments?
Here is where I need experienced voices to share their experiences.
Thoughts?
Thanks so much!