While your thinking seem very logic, I would like to add a few other things to consider:
If you're taking out life insurance on yourself, consider taking out a policy on your spouse as well.
Once the child is born, take out a life insurance policy on them as well.
Be sure to have your other affairs in order-will, trust, beneficiaries named, etc.
Have the conversation with your spouse about if and/or when they would remarry if you've passed; and your wishes of how the financial picture would be handled--prenup or dissolving prenup (if there is such a thing). Along with vice versa, what if your spouse dies?
If you're taking out life insurance on yourself, consider taking out a policy on your spouse as well.
Once the child is born, take out a life insurance policy on them as well.
Be sure to have your other affairs in order-will, trust, beneficiaries named, etc.
Have the conversation with your spouse about if and/or when they would remarry if you've passed; and your wishes of how the financial picture would be handled--prenup or dissolving prenup (if there is such a thing). Along with vice versa, what if your spouse dies?
Statistics: Posted by FENDERSTRYKER75 — Mon Jun 10, 2024 5:44 pm