re: Life insurance questions

If you go with a longer term (20-30yrs), make sure that it is convertible throughout the length of the term...even better would be convertible throughout the term and to all policies. Most policies will be convertible but only during the first 10 or 15 yrs and to only one policy.

Sounds like you may become a Physician, so check into Wavier of Premium (WOP). Find a policy with (WOP) which if you become disabled, during your term policy, you can then convert to a permanent policy and the premiums on the permanent policy will continue to be waived as long as you are disabled...this will obviously increase the monthly cost.

If you don't want to spend the extra for WOP...maybe allocate the difference to a policy on the Wife. Depending on how far along she is, they may insure her before she has the baby.