Pay Your Own Way

Dear Dave, At what age do you stop paying your children's life insurance? My son is 24, and he'll be getting out of the Navy next year and starting college. My daughter is currently in college, and we're paying for her education in addition to her life insurance. Sandra Dear Sandra, I think you need to scrap the whole concept. You don't buy life insurance for kids. A small rider - just enough to cover burial costs - on your policy will do the job in the event that something tragic happens. And make sure you're using a good, term life policy. When your kids are out on their own, that's when you turn everything over to them and let them live their own lives. This means paying the bills and any insurance they need! - Dave
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