Laddering term insurance?

Generally I subscribe to the philosophy that life insurance should be used to replace lost income for those that depend on it in the event of the untimely demise of the insured. Thus, I didn't really take life insurance on myself too seriously until I got married (and thus had someone who depends on my income), and I intend to scale back to minimal life insurance once I retire (since my income will no longer be dependent on my ability to draw breath). In between these two events (marriage and retirement), I have a declining need for insurance. Would it be wise to ladder term life contracts to cover this period of my life? For example, would it make sense to split my insurance needs say into thirds and get a 30 year level term insurance contract, a 20 year, and a 10 year? Of course, all this goes out the window with kids...

Sorry if I'm slaughtering insurance terminology here.

-Will

william dot trice at ngc dot com

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Reply to
Will Trice
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Good to know. Thanks, Cal.

-Will

william dot trice at ngc dot com

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
Will Trice

But at the same time, inflation will be reducing the value of the eventual benefit, which will at least partially offset the need.

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
bo peep

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