Do you have Life Insurance?

Spinoff of my story about Gofundme's lately and people asking for money for funeral expenses.
I don't get why people do not have life insruance, especially with children. You don't have to have too much and personally it only costs us $20/week for both of us.

Do you have Life Insurance?

We have life insurance.

But for some people - health reasons may be prohibitive, maybe they don't have the $20/week, etc.

You always seem so concerned with what everyone else's financial sitaution is and I don't get it.

Re: Do you have Life Insurance?

Yes, we have life insurance. I don't know how someone doesn't, it's so important. I'm a SAHM, God forbid anything happen to DH I will need money to support the house, kids, bills, funeral expenses, etc. We have term life, it's very affordable and we have a significant amount of coverage.

We're getting a policy for me this upcoming year because if anything happened to me, although I don't work, my DH would need the insurance money for funeral expenses and to cover the cost of childcare.

It's so important to have life insurance, especially when you have a family.

Re: Do you have Life Insurance?

I sell it. Believe in it, highly. Any is better than nothing.
Its the hardest discussion to have and many have difficult time with it as well as the costs behind it.

Re: Do you have Life Insurance?

Re: Do you have Life Insurance?

Re: Do you have Life Insurance?

yes, we got it after we had DS. We have a term life plan right now. Whole life is really expensive. I'll have to revisit when the term is up.

I got the super preferred rate, but DH was a risk b/c his dad died at 42 of heart disease. so he gets a higher rate. and the only time it will go down is after he lives past 42.

I know we have enough to cover the rest of the mortage, funeral expenses and such.

It is really important. we also have health care proxies and living wills in our safety deposit box.

Re: Do you have Life Insurance?

Do you have Life Insurance?

Once we had DS we got it. We were nervous about the expense for DH since he had testicular cancer when he was in his early 20s. Luckily due to the type of cancer and the fact that he's been cancer free for over 10 years, we got a reasonable rate.

Re: Do you have Life Insurance?

We have it and I have to agree that it is a necessity. Of course there are some who can't afford it but I also think many don't prioritze and IMO this is more important than a lot of things people who can't afford it can afford...just my 2 cents

Re: Do you have Life Insurance?

yes we have it but not enough for DH. we have it through my job. I can only get up $100k for DH so we need more for him.

I also know I should have some outside of my job because obviously if I loose my job we loose Life Insurance its only the list to do but honestly the different plans they offer confuse me and I feel like insurance representatives will rip you off and try to lie and convince you to get things you don't need or make things sound worse/better than what they really are . so I really need the time to do the research before I reach out to companies.

Do you have Life Insurance?

Didn't file early enough and biggest mistake we ever made was not filing sooner...

Do you have Life Insurance?

Yes. We both have term policies through our employers and a private policy. We both work and do well enough to carry expenses on either salary. Im not concerned over funeral costs or living expenses god forbid one of us goes BUT our BIG concern is something happening to both of us. Our families (those who would be listed as custodians for our DS) do not have $$ to support and provide for him as i'd like so it was absolutely essential to us. My term is 35 years. I figure by the time he is 35 he'll have to fend for himself! No but ideally house will be paid off, 401ks will be nice, etc.

If I did not have children I'd probably just keep group term life plan from my job. It's dirt cheap and deducted from my check so I don't miss the money.

Do you have Life Insurance?

We don't have policies besides what is offered free thru work (a years worth of salary)

We don't have children, both of us could pay for the house on our single salaries alone and we also have savings. (Plus the house should be paid off in about 3 years, fingers crossed.)

So we don't see a reason for it at this time.

Re: Do you have Life Insurance?

Message edited 12/28/2015 11:33:54 AM.

Do you have Life Insurance?

No.
We don't have children. DH is not insurable because of medical reasons.
We both have sufficient income on our own to pay living expenses. Retirement and investment accounts are healthy.
As for funeral expenses, we've already bought our plot and God forbid one of us passes now, there is enough in savings to pay for a funeral. Down the road once we are a bit older, we will do pre-arrangements.

Do you have Life Insurance?

Yes DH & I both have. I have through my job plus I pay for additional for me. DHs we pay for.

2 weeks ago my cousins SIL died suddenly of a major heart attack at 42. She did not have life insurance. The family had to scramble to pay for the funeral. No one expected her to die at that age and people don't realize how expensive funerals are. Very very sad.

Re: Do you have Life Insurance?

Yes, I've always had life insurance through my work. We'll get supplemental life insurance though now that we're expecting our first child.

Do you have Life Insurance?

DH is retired and his income dies with him. I work, so obviously my income dies with me. We do not have children together. DH has a policy for his kids (required by his divorce - both he and ex had to get it).DH and I got a policy that was enough to payoff our mortgage, so that neither one of us would have to give up the house if something happened to one of us. Otherwise, for us, we wouldn't need/get it - both of us lived independently and supported ourselves before we were married, so not really a "necessity" for us, but just wanted to make sure one of us could keep the house if it came to that.

Do you have Life Insurance?

I work in the industry. I have heard and seen all the stories. We pay out so many death claims and sometimes, the cause and age of death is eye opening. If you are in your early 30's a policy would be as cheap as 15-20 bucks per month! With that said, yes- we have it. I am passionate about it.

Do you have Life Insurance?

Yes we both have significant policies plus I have 1.5 salary through work. We both have a mix of term and whole. We pay a good chunk monthly but it's well worth it. If something happened to one of us we made sure we each have enough to pay off mortgage, pay for college etc. I think it's one of those things a lot of people don't think about until they need it. And funerals are very expensive.

Re: Do you have Life Insurance?

Do you have Life Insurance?

Sure everyone SHOULD have life insurance but it's not always cut and dry. My DH has epilepsy (since he was a child) and its hard to find an insurance company that will even give him a policy. I'm still waiting to hear if he is accepted from our application submitted two months ago and if he is, we will easily be paying 5X more a month for his policy than we do for mine.

Re: Do you have Life Insurance?

We both have insurance that is offered through DH's job. We plan on obtaining additional insurance once we have children.

Re: Do you have Life Insurance?

Yes we do