Ask Paula: How to Optimize Your Investments Along the Efficient Frontier (If You Dare!)
Afford Anything
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How Much Life Insurance Do You Really Need?
The whole life policy can convert into a term policy, and rather than you having to pay anything out of pocket for it. That payment can start coming from the cash value that's been amassed there. If what she wants is a really big legacy for her kids, maybe the permanent insurance makes sense. But i wouldn't throw it out now that she's has that much money sitting in it in a tax free position.
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