Comments on: Case Study: Alline Davenport. Some Financial Homework http://personalfinancebythebook.com/case-study-alline-davenport-some-financial-homework/ Making You a Winner at Money and Life Wed, 16 May 2012 18:53:32 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Chad http://personalfinancebythebook.com/case-study-alline-davenport-some-financial-homework/comment-page-1/#comment-119 Chad Tue, 04 Aug 2009 17:37:53 +0000 http://personalfinancebythebook.com/?p=214#comment-119 Joe, Thank you for the clarification. Important lesson is that not every person or situation is the same and the security gland needs to be satisfied for peace to occur. Joe,
Thank you for the clarification.
Important lesson is that not every person or situation is the same and the security gland needs to be satisfied for peace to occur.

]]> By: Joe Plemon http://personalfinancebythebook.com/case-study-alline-davenport-some-financial-homework/comment-page-1/#comment-118 Joe Plemon Tue, 04 Aug 2009 17:21:51 +0000 http://personalfinancebythebook.com/?p=214#comment-118 Chad, Great question. No. She does not have anyone dependent upon her income, but (probably because of the hardships her husband's death and funeral placed on her) she places a very high value on having enough life insurance to cover her funeral expenses. Because of health issues, she does not qualify for term life, so the choice seemed to be either cancel her policy in order to use the premium and cash value for debt reduction (as you suggested) 0r keep the existing policy so she can have the peace of mind to know that her death will not be a burden to her children. We discussed this and she chose to keep the existing policy. .-= Joe Plemon´s last blog ..<a href="http://feedproxy.google.com/~r/PersonalFinanceByTheBook/~3/192vlhpu_Nk/" rel="nofollow">My Decision to Start Social Security Benefits Early</a> =-. Chad,

Great question. No. She does not have anyone dependent upon her income, but (probably because of the hardships her husband’s death and funeral placed on her) she places a very high value on having enough life insurance to cover her funeral expenses. Because of health issues, she does not qualify for term life, so the choice seemed to be either cancel her policy in order to use the premium and cash value for debt reduction (as you suggested) 0r keep the existing policy so she can have the peace of mind to know that her death will not be a burden to her children. We discussed this and she chose to keep the existing policy.
.-= Joe Plemon´s last blog ..My Decision to Start Social Security Benefits Early =-.

]]> By: Chad http://personalfinancebythebook.com/case-study-alline-davenport-some-financial-homework/comment-page-1/#comment-114 Chad Tue, 04 Aug 2009 12:35:30 +0000 http://personalfinancebythebook.com/?p=214#comment-114 Could you provide additional detail as to why you are recommending keeping the whole life policy? Does Alline have someone who is dependent upon her income? If not, why not use the premium of the whole life policy and the cash out value to pay down debt? Could you provide additional detail as to why you are recommending keeping the whole life policy? Does Alline have someone who is dependent upon her income? If not, why not use the premium of the whole life policy and the cash out value to pay down debt?

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