Comments on: When and How to Cancel Life Insurance

By: DIY Investor

DIY Investor — Sat, 24 Jul 2010 11:25:23 +0000

Good post. People sometimes hold on to insurance they don’t need through pure inertia. These are the kind of things that need to be reviewed on an ongoing basis. If you wouldn’t buy it today get rid of it.

By: Evolution Of Wealth

Evolution Of Wealth — Fri, 23 Jul 2010 16:58:38 +0000

For Jean shouldn’t there be a lot more to this story? It sounds like she probably had a permanent policy with cash value built up. Might she do a reduced paid up policy, to cut expenses and still be able to leave some liquidity to give the children the six months to a year it could easily take to sell the house? Or maybe even generate tax free income from the life insurance policy?
If she just cashes it in there might be a big tax bill. There’s also the 1035 option?

By: Little House

Little House — Fri, 23 Jul 2010 15:16:10 +0000

Thanks again for mentioning my link! I’ve included your link on mine.