How Much Life Insurance is Needed For Healthy 50 yrold?
What amount life insurance would be sufficient for a man in his 50s to buy? The sole beneficiary would be his 50 year old domestic partner.They are not married and the man's children will inherent everything else. So, this life insurance would be needed to provide housing and living expenses.
I was thinking a $250,000 policy may be efficient. The man's assets total many times more than that.
If the doemestic partner is the only beneficiary on the policy how could the (greedy) kids contest that?
|