Life Insurance

luvmykids wrote: How many of you have life insurance? If you have it, is it on both of you, or just the main bread winner? It's been bugging me lately that we don't but I keep putting it off just b/c there's so much I don't understand about all the different types, and I feel like we're too young to need it! But then every time DH does something dare devil-ish I freak out in case something happens.

aspenblue1 replied: we both have life insurance.

My3LilMonkeys replied: We have insurance on both of us, plus small policies on the girls. DH also has a policy through work and his mom has a policy on him (which she has said would be set aside for the girls if something were to happen to him).

mckayleesmom replied: We both have insurance on us through the military.

huggybugboy replied: we both have life insurance, mostly because we are so poor. If something happened to dh I dont know what I'd do. I have life insurance that rolled over from when I was a minor. I have since added a little bit to it. Its a good thing to do, but I know what you mean about not knowing anything about it. And I HATE talking to insurance salesmen. They drive me crazy.

Kaitlin'smom replied: being in the field we have a policy on both of us and small ones on Kait. They are ours. I also have smaller ones through work but the main ones are ours so if we change jobs were still covered. Its important to have your own. Its also important to have ont on both parents.

amynicole21 replied: Yes, we both have small policies thru my work, but I just applied for a huge increase in my coverage. We spoke with a financial guy who gave us a ton of info for free. It was through Primerica and I highly recommend them. Of course, we did more research and ended up going through another company who was cheaper Think about this, if you are a SAHM, you definitely need a policiy on yourself because should anything ever happen to you DH would have to get childcare which is a huge expense he never had to think about before. They say you should figure out your expenses for a year then multiply it by 20! Sounds like a lot, but you want to be able to do more than just bury your mate, you want them to be able to maintain the same lifestyle they have now forever - not just a year or two.

kayla's mama replied: We have a policy on all of us through DH's job. We really need to get our own in case something ever happens to DH's job.
Its funny that this was brought up...my dad just asked me if we had a policy on Kayla.

MyLuvBugs replied: We have it on everyone. Lorelei and I are on the same policy (large policy that my parents got for us), and DH has a separate policy (also large that his parents got for him). I have no idea with whom they are through though, as our parents are the ones that purchased the policies for us.

I do have to say that we had a HORRIBLE experience with Primerica, and I do not recommend them. They promised one thing, and then 5 months later we get the policy agreement, and it was COMPLETELY different than what was promised to us , so we cancelled the whole thing with them. Just bad. I'm sure their great for some people, but not us.

USMCwife replied: DH has a large policy and I have a policy through work. I need to get a seperate one from work. We havent got policies for the kids yet, I guess we need to do that now.

BAC'sMom replied: Yes we both have life insurance.

blue72 replied: We both have small policies through work and my husband has a small additional policy. Instead of paying the insurance premium we invest in our 401k accounts. I believe (hope) our 401k balances are large enough that we do not need any additional life insurance.

~~*Missi*~~ replied: hello we have it on Chris and we have decided to add a 50-100k policy on me just in case.....

if you have any questions my husband is a Mutual Of Omaha Professional (insurance stocks mutuals etc...) so he will be happy to answer any questions. I know that Nicole (nix) has asked him questions and he is very open and honest....

Let me know and i will PM you his email and you can ask him anything.

holley79 replied: My FIL is write insurance polices so we both have life insurance. DH carries a lot more then I do If something happens to him then everything can be paid off without me worrying. If something happens to me then the house can be paid off but not much more then that. The other reason my LI policy isn't higher is because when we got it I smoked and the premiums were higher. Maybe now I can get a cheaper policy.

ETA: DH's biggest joke is he sleeps with one eye open.

PrairieMom replied: We both have it. Being young is no guarentee that something terrible won't happen. Working in the hospital I see it everyday. I want my family to be protected. It gives me a lot of piece of mind! We also have a will and advanced directive.

coasterqueen replied: We both have policies on ourselves and each other that are free through our employers and then we both have policies of our own that we pay for.