InviewFinancial
Expert
- 27
Hello
me and my wife are covered up to 2 mil each. some of ( Whole, GUL and some Term)
We have bought a WL 20 Pay $400K with Penn Mutual for our child who is 2 and half year, which costs us $2000 for a year.
i want to set aside total 1mil policy for my daughter but want to diversify.
I would like to get another 600K in 20 PAY GUL with prudential which my advisor quoted , 1250/month.
Q1) i asked for a The Benefit Access Rider , but Prudential has minimum age of 20 for that rider.
i just want to make sure i get the right policy with right riders if available. as with my wife i have learnt she will not be qualified to get The Benefit Access Rider any more with Prudential due to her RA.
are there any riders available to children;s policy with other companies which are similar.
Prudential does include "Living Needs Benefit Rider" but i want something better.
Q2) instead of putting cash in savings or put money in stock market, i want a guaranteed return, and that is the reason i am getting WL and GUL for my daugher and also getting it paid up in 20 yrs.
are these two policies the best for what i want to achieve?
I do not want to leave much cash , but want to leave her with paid up policies.
Q3) any other suggestion . little investment but big guaranteed return. total cost in 20 years for 1 mil will be
(2000 * 20 ) = 40000 (WL)
(1200 * 20 ) = 24000 (GUL)
total 64K and will have 1Mil paid up policy when she turns 22.
My wife does have RA and now limited options for getting new policies. so just want to be early and take care of my children as well.
me and my wife are covered up to 2 mil each. some of ( Whole, GUL and some Term)
We have bought a WL 20 Pay $400K with Penn Mutual for our child who is 2 and half year, which costs us $2000 for a year.
i want to set aside total 1mil policy for my daughter but want to diversify.
I would like to get another 600K in 20 PAY GUL with prudential which my advisor quoted , 1250/month.
Q1) i asked for a The Benefit Access Rider , but Prudential has minimum age of 20 for that rider.
i just want to make sure i get the right policy with right riders if available. as with my wife i have learnt she will not be qualified to get The Benefit Access Rider any more with Prudential due to her RA.
are there any riders available to children;s policy with other companies which are similar.
Prudential does include "Living Needs Benefit Rider" but i want something better.
Q2) instead of putting cash in savings or put money in stock market, i want a guaranteed return, and that is the reason i am getting WL and GUL for my daugher and also getting it paid up in 20 yrs.
are these two policies the best for what i want to achieve?
I do not want to leave much cash , but want to leave her with paid up policies.
Q3) any other suggestion . little investment but big guaranteed return. total cost in 20 years for 1 mil will be
(2000 * 20 ) = 40000 (WL)
(1200 * 20 ) = 24000 (GUL)
total 64K and will have 1Mil paid up policy when she turns 22.
My wife does have RA and now limited options for getting new policies. so just want to be early and take care of my children as well.