Hey y’all I am just now solidifying my financial literacy journey in regards to researching some life insurance for my youngins. All 10 and under . What are some finance tips and life insurance tips based off 2024 you can give me. I’m open to constructive criticism.
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That sounds really frustrating! Can you ask your doctor to write a new prescription for a single 65 mg pill? If that’s not possible, they might be able to make an exception for you. Kaiser could help with this, too.
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Something is better than nothing! Get covered as soon as possible—you can always update it later. Be careful when choosing a beneficiary, as courts won’t give money directly to a 10-year-old. Consider setting up a trust or ensure the person handling the money will use it wisely. Get the basics in place now and focus on more detailed planning in the near future.
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Something is better than nothing! Get covered as soon as possible—you can always update it later. Be careful when choosing a beneficiary, as courts won’t give money directly to a 10-year-old. Consider setting up a trust or ensure the person handling the money will use it wisely. Get the basics in place now and focus on more detailed planning in the near future.
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You have 3 kids depending on you. Before considering permanent insurance, make sure you have at least 10 times your salary in term insurance—ideally 20 times. Focus on securing enough coverage for your family first, and then you can think about adding permanent insurance later.
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It’s great that you’re starting early with financial planning for your kids! Life insurance can be a smart part of your overall strategy, especially when thinking about the future. Your goals—whether it’s ensuring insurability, growing cash value, or tax-free income—will guide your choice. There are many good reasons to consider it, and I’d be happy to offer some guidance and insights.
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The key thing with term life insurance is that you’ll likely need to reapply once the term ends, and by then, you’ll be 20 years older. Time and health can be the biggest challenges for life insurance. I’m a fan of whole life policies because they last forever, and since you’re 29, the rates will be more affordable. It doesn’t need to be a huge policy—just enough to cover final expenses. Stay within your budget. If you have a mortgage, a term policy could help cover that and other debts. Shop around for a company that fits your needs. 
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If you plan to name your minor children as beneficiaries, be sure to designate a UTMA custodian as well. The custodian will be legally responsible for managing or spending the funds for the child’s benefit. It avoids the cost of setting up a trust, though a trust isn’t a bad idea either. However, expenses like your funeral or getting your house ready to sell aren’t “for the child’s benefit,” so make sure you leave enough for those upfront costs to the person handling those arrangements for you.
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Consider a few options based on your needs. Since you’re young, whole life insurance could be a great choice if it’s within your budget. If you’re focused on long-term growth and leaving a legacy, an Indexed Universal Life (IUL) policy would be ideal. For saving money upfront, term life insurance or convertible insurance offers the most coverage for the least initial cost.
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Term insurance is definitely the way to go—get as much coverage as you can afford. But the coverage won’t matter unless you have a solid will or trust in place with a reliable executor.
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It honestly depends on your full situation. I seriously recommend talking to someone about your full scope of finances and what your long term goals are. However, my first step of advice is to at least start with a term insurance plan of 20 years minimum. 
but you should definitely talk to a financial professional for recommendations based on your current life scenarios!
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You need to look into an IUL if you are 29. Assuming that you don’t have any serious health conditions or had any run ins with the law. Would be glad to help if you have any questions