We got notification that DH was approved for his term insurance. They say the final contract will be sent in the mail. After all the paperwork is done and we know the coverage is in effect we will cash in his whole life insurance. The cash value on that is almost enough to pay off the Discover card. We had agreed, way back when we started all this, that if we could get term insurance we would use the money from the whole life to pay on the CC.
It feels good to know that soon these debts are going to take a big hit and we'll see the numbers reduced by quite a bit.
DH's Term Insurance
March 9th, 2007 at 11:12 am