Whole Life Insurance In A Lifetime Financial Plan: The Case Study
January 27, 2021 by Wade Pfau
For these comparisons, I create a case study for a forty-year-old married couple with two children who are now constructing a lifetime financial plan. Jerry and Beth have determined that it is time to get serious about retirement and life insurance planning. Jerry is employed and Beth is a homemaker. These gender roles could be switched, but since life insurance is less expensive for women because of their heightened longevity, having the male be the worker is the more conservative case to consider. Jerry is seeking an additional amount of life insurance death benefit equal to $500,000. This, along with his other life insurance, will be adequate to support his family in the event of his death prior to age sixty-five.
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