1. You have a good net asset position.
2. You have also a good liquid asset position.
3. You may have the need to protect income level for short term(for mortgage, say 5 years?), but not for long term.
4. You may(this should be left at your own discretion) need income protection for retirement and education funds accumulation in the 10 year time window.
Solution: Buy 500k 10yr term for the high-earner and 300k for the low-earner. You can find good deals on the net. The total premium should be about $600/yr. I guess you are paying $400/yr for your hu*****and's $300k policy now.
After 10 years one (or both) of you can retire.
2. You have also a good liquid asset position.
3. You may have the need to protect income level for short term(for mortgage, say 5 years?), but not for long term.
4. You may(this should be left at your own discretion) need income protection for retirement and education funds accumulation in the 10 year time window.
Solution: Buy 500k 10yr term for the high-earner and 300k for the low-earner. You can find good deals on the net. The total premium should be about $600/yr. I guess you are paying $400/yr for your hu*****and's $300k policy now.
After 10 years one (or both) of you can retire.
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