Someone age 60 looking for a term policy in average health will pay $380/month (it can cost much more depending on health).

If, or when, a claim occurs, @Chris Clothier, the insurance company will be much more likely to pay up for a lender, and their battery of lawyers, protecting their collateral than a little owner desperately trying to protect their equity.

Oh and the kid....the first priority will likely be their health and safety before the enforcement of any contract.

Were in a major election cycle, they won't do what is best for health of the nation, there going to do what's best for there political position first and foremost.

So put capex aside, depending on age/health.

For others, here's the link (if it works and is not blocked):https://www.biggerpockets.com/files/user/JustinS374 There are 3 other resources I created here as well:1) Financial Health Plan (Word template)2) Net Worth and Monthly Cash Flow Tracking (Excel)3) Buy & Hold Analysis (Excel)Feel free to download any or all of them and use however they help.Happy Investing!

Consider traditional IRA, health savings accounts, SEP IRA, SIMPLE IRA and 401k to lower tax liability if you are not using some of them now. 

I think Dave Ramsey makes some good points, but his show is weighted toward people with healthy incomes and no serious health issues. 

---We're not perfect and some of our ServiceTechs occasionally forget, phone batteries die, or they take worthless pics, or like with a sewer snaking sometimes nothing is pulled out, but we deliver at least 95% of the time.Regardless, you should automatically be receiving an invoice with a decent description of the work performed.

UT with it's Scott Park campus has joined forces with the Medical College of Ohio (UTMC or Health & Science now) under one umbrella.