update on my life insurance questions
J-rod wrote: well thanks to ALL who helped. we talked to my current agent at state farm and getting a 15 pay life plan for kyan. its $28/month for 15 yrs....and he is covered for life. when he turns 20 he has 7k cash available and when turns 40 he has 15k cash and death benefit of 47k.
and since my agent is 2 hours away (back home where i used to live) he is driving up here to meet me at my work so i can sign the papers.
mom2my2cuties replied: That is GREAT!!!!
I pray you never have to use it - but it's great to have just in case!
redchief replied: Cool.
Boo&BugsMom replied: So glad you found something to fit your needs! 
kimberley replied:  that's great! nice agent!
Kaitlin'smom replied: just wondering whats the over all death benifit?
could be your state but that seems high for so little if I was reading it right.
J-rod replied:
not sure what your asking there...i went with my agents advice.... my parents been with him for over 25 years.
its a 25,000 15 pay life. the chart shows a death benefit at age 80 at around 130k. 
Kaitlin'smom replied:
sorry I was not clear, so right now it has a death benifit of 25K and grows as he get older?
I was just shocked at the cost, like I said could be your state and there rates could be higher than mine.
Kaitlin'smom replied:
sorry I was not clear, so right now it has a death benifit of 25K and grows as he get older?
I was just shocked at the cost, like I said could be your state and there rates could be higher than mine.
grapfruit replied: J-Rod,
I'm an insurance agent for American Family. For a little extra protection you should check out some policies for yourself as well. Most have a children's rider you can tack on. For instance on our policies, for around $4.00/mo it gives you $10,000 for each kid ($4.00/mo covers from 1-99 kids). That's just my company, but State Farm is pretty similar in a lot of aspects, so you might ask your agent. At least this way you can be protected at the same time...
J-rod replied:
i did ask about that...but those are term policies...this will never decrease and will gain value.
im going to up my life insurance policy within 30 days anyways.
mom2my2cuties replied: J-Rod - Something our agent told us when we were getting insurance for us - is that my husband and I need to make sure we have policies that will support us at our current income level for 5 years after the death - so that might be something to think about.
And we went with fairly large policies on both of us because of that - and we still pay very low rates. And that surprises me because I have SERIOUS risk factors with my family history.
grapfruit replied: p.s.
to clarify (after reading that) I mean check out a policy for yourself in in addition to the 25 yr pay up. Those are WONDERFULL products that I would encourage anybody to get. The sooner the better, because Life Insurance gets more expensive as you (or your child) gets older. And with those pay up policies you end up paying less then if you'd spread it out at a lesser rate. Plus, most of those policies have a guaranteed purchase option that allows the child to purchase MORE life insurance w/o having to answer medical questions or anything else.
J-rod replied: yea i have 30 days from today to get my life insurance policy at the 24 yr old rate. so im looking into one for me and steph.
grapfruit replied:
Most agents should be able to do a "Needs Analysis" w/you. It will take into account those needs (like being able to support the same income level 5 years after a death). Best thing to do is talk to your agent.
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