Should we surrender Second to die policy
600 K death benefit (bought second to die about 20 years ago)
Paid in more premiums than surrender value, surrender not taxable.
Do we need this policy?
5 million in assets managed by fee only advisor, 3 children, 80’s and healthy, eventually moving to CCRC, long term care insurance, no mortgage, pension income.
Thanks to you we used Pam Krueger ( Ben Hockema, Illuminate Wealth )and have Ben Gordon as a agent on LTC policy.
Thank you,
Terry Says
That’s for YOU to answer, in conjunction with your very good advisors. The surrender value doesn’t matter at this point. It’s the cost of the annual premium. The decision o
Is based on your stage of life, lifestyle. Do you plan to spend most of your assets together, perhaps traveling? This ensures the survivor will have plenty of cash — and money to leave to the kids!
