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I bought a 30 year Term life insurance policy in my mid 20’s. It expires when I’m 56. Worth $1M and I pay $70/month. After that I should have enough saved for my family if I die. You shouldn’t buy full life insurance if you can plan for the future, that’s why term life insurance is recommended for younger people. Term is a stop gap until you build to that point and it’s cheap for large coverage.
Rainman, I’d say you’re right on with your recommendation.
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