Husband Has Life Insurance...And Is An Alcoholic?
A listener wants to know if she must stay with whole life insurance because of her husband's problem.
QUESTION: A listener says she has a whole life policy on her husband. He’s an alcoholic. Will they be able to get cheaper term life insurance or does she have to keep the whole life policy?
ANSWER: In this situation, you should keep the whole life policy. Your husband is not insurable. You will probably not be able to get a cheaper term life policy. In the insurance world, alcoholism is worse than having cancer.