Cathy - posted on 11/02/2010 ( 16 moms have responded )
I have a beautiful 6-year old daughter who was born with hydrocephalus, which caused cerebral palsy, hearing and vision processing difficulties, she's non-verbal, developmentally delayed, seizures -- the whole enchilada! It appears that she will be dependent all her llife on someone. A few years back I got 3 life insurance policies -- a term (30 years), and 2 that are hybrids (don't know the proper terminology, but they have some cash value associated with them). Last week I went to see another financial planner and he suggested I trade them all in for 1 term policy, which would be much less expensive, but in 30 years assuming I'm still kicking at 80, my daughter will be 36, and then when I pass, what will there be for her to live on?
I'm sure many of you have faced similar delimmas and was wondering if you have any thoughts or have gotten any advice on what to do. We all want our children to be well taken care of, but professional financial advisors who don't have special children don't necessarily give the best advice.
thanks in advance for your thoughts!