How Much Term Life Insurance Do I Need?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 30 September 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.8	Joining me today is Ramsey personality, Ken Coleman.
0:15.9	Josiah is with us in New Hampshire.
0:18.3	Hey, Josiah, what's up?
0:20.2	Hey, Ken and Dave, how are you both?
0:22.4	Better than we deserve, sir. How can we help? Glad to hear it. I'm 25 years old, married, and
0:28.3	debt-free in baby step four, and applying for term life insurance. So I'm going through
0:35.9	Zander and got approved for $500,000, but I'm wondering whether Zander and got approved for 500,000, but I'm
0:40.2	wondering whether I should go with a 20 or a 30 year term. My thought being, if we're debt free
0:45.8	now, in 20 years, I'll be 45. Will I have a net worth high enough to not require that insurance?
0:53.0	Or should I go with the 30 and stay insured until 55,
0:56.3	at which place I can be more confident that would be there.
0:59.7	How's your health?
1:01.1	Health is good.
1:02.4	You smoke?
1:03.1	No, no, non-smoker.
1:05.2	Are you obese?
1:06.8	Nope.
1:07.4	Okay.
1:08.4	I would buy a 20-year.
1:10.6	Okay. Now, let me tell you how I did that. Okay. Here would buy a 20 year. Okay.
1:11.1	Now, let me tell you how I did that.
	...

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