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I'm in the process of updating my life insurance policy. I have two young daughters and many aspirations. Currently, I have a $1 mil. ten year term policy, but I think I need at least $2-3mil. Our morgage is for $450K and my student loans add to around $150k. My question concerns the student loans. I have heard that if I die before paying them off, the loans would die as well and my estate would not be responsible. This of course would influence how much life insurance I need to obtain. Has anyone with student loans come up with this situation?
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