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So I'm 63 years old and I have a life insurance policy for $250,000.00 that's costing me $300.00 a month. Let's say I have over a $million with no mortgage or car payment. I going to live off dividends. I drained my insurance policy a couple time some years ago so there's only about $5,000.00 in it. I'm looking to cut my expenses so I'm thinking about cashing out my policy, paying some bills and lowering my expenses that $300.00 a month. With the value of my house and the money I have I think they'll be plenty to leave for the kids and If I were to die unexpectedly everything is covered for the wife so I'm thinking I don't need life insurance.
What does the Oracle that is Chiefs Planet think?
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