[Mr Tonka]

Kid life insurance costs next to nothing right? I can't imagine $25k costing more than $8 to $10 a month. My father bought me a WL policy that's worth $25k and it took him like 4 years to make it that value. It has cash value and i could continue to pay the minuscule premium to increase cash value. At the time he purchased it it served as a small long term investment / saving vehicle that was transferred to me at 18. And if i died prior to 18, all expenses would have been covered. For next to nothing in cost, this is likely why most people have kid life ins.

My wife and i both have term and WL policies. Each have $250k in WL and $750k in 20 term. Our combined premiums are $506/ month. BUT, our term policies are the ROP variety. Return Of Premium. So at the end of the 20 year term, should neither of us die, we'll receive all the premiums we paid in. This is why the premium is a little bit higher. So if you have the cash flow, this may be a viable option for you.

We basically got the WL policies so that we would always be insurable and be able to get another term policy should we need one when the 20 yr term is up. Our WL policies are adjustable as well. So if we don't want the term but want to increase our WL policy value, we can do so without getting reevaluated health wise.

Good friend of mine is my agent and he hasn't let me down yet. We've only had one claim over the years but it was a large one. Whole business went up in flames. Total loss. We told him that we wanted the kind of insurance that would allow us to just go back to sleep if we got a call in the middle of the night telling us that the building was on fire. We didn't expect the building to ever be on fire, but that's what happened. Ins stroked a check 2 days after the fire for the limits of the policy. Paid out all lost revenue, all lost rents, all lost inventory, all lost contents and all lost estimated profit. Of course all of those limits were paid out at a later date but the property limit was paid in 2 days.