Life insurance? - Page 2

askmrjesus · 04-30-2009, 05:09 PM

If you don't have anyone to leave the money to, you'd be better off with disability insurance.

JC

Particle Man · 04-30-2009, 05:41 PM

Quote:

Originally Posted by askmrjesus

If you don't have anyone to leave the money to, you'd be better off with disability insurance.

JC

depends on the program - privately funded disability insurance is pricey depending on the Plan provisions...

Cutty72 · 04-30-2009, 06:12 PM

I have SGLI... I'm good. Took out a KC life ins plan more as a sure deal retirement plan than as actual life insurance.

HurricaneHeather · 04-30-2009, 06:15 PM

I am not sure if this will apply to you, Michelle but with my mortgage it was in both my husband and my name, so we did a policy for each of us large enough to pay off the mortgage so that the survivor doesn't have to deal with the stress of making the payments if they can't afford it.

Now that we don't own a house, I just have 3X my salary for me and a little more for him. His parents have a ginormous policy out on him, so I'm not too worried about funeral costs.

Particle Man · 04-30-2009, 08:41 PM

Quote:

Originally Posted by HurricaneHeather

I am not sure if this will apply to you, Michelle but with my mortgage it was in both my husband and my name, so we did a policy for each of us large enough to pay off the mortgage so that the survivor doesn't have to deal with the stress of making the payments if they can't afford it.

Now that we don't own a house, I just have 3X my salary for me and a little more for him. His parents have a ginormous policy out on him, so I'm not too worried about funeral costs.

or you could get a mortgage with a life insurance clause...

skiergirl · 04-30-2009, 08:50 PM

I have enough to pay off my house, car, bike, credit cards and a little extra. I wanted my family to not ever have to worry about anything of mine and if it's all paid then they can sell what is left or do with it what they want in a way that can benefit them.

It's different if you are married or have children, most people want some extra so the spouse doesn't struggle, which is a good thing.

'73 H1 Triple · 04-30-2009, 11:43 PM

Quote:

Originally Posted by skiergirl

.....

It's different if you are married or have children, most people want some extra so the spouse doesn't struggle, which is a good thing.

I have enough life insurancve on myself to pay off the house and about two years of "take home" pay for my wife.

She has a policy to cover to the cost of the mortgage balance.

Start a whole life policy as soon as you can afford. If you start when you're younger, it's cheaper as you age

Jeff

askmrjesus · 05-01-2009, 08:13 AM

Quote:

Originally Posted by Particle Man

depends on the program - privately funded disability insurance is pricey depending on the Plan provisions...

True, but at least you can use it if a truck runs over your legs.

JC

RACER X · 05-01-2009, 08:16 AM

Quote:

Originally Posted by '73 H1 Triple

Start a whole life policy as soon as you can afford. If you start when you're younger, it's cheaper as you age

Jeff

dave ramsey says term life.

Rider · 05-01-2009, 08:19 AM

Single, no kids.. Just get enough to cover funeral costs and maybe your mortgage. Check with your employer, you might already get 2x your annual salary for free. My work does anyway.

I have a big life insurance policy but I have 2 young kids at home and a wife who doesn't work. She'd be fucked if something happened to me with no life insurance.

04-30-2009, 05:09 PM	#11
askmrjesus Soul Man Join Date: Nov 2008 Location: Everywhere, all the time. Moto: '0000 Custom Turbo Cross (with jet kit). Posts: 6,481	If you don't have anyone to leave the money to, you'd be better off with disability insurance. JC __________________ The way things are going, they're gonna crucify me.

04-30-2009, 06:15 PM	#14
HurricaneHeather AMA Supersport Join Date: Nov 2008 Location: Sydney Moto: '98 Honda Fireblade Posts: 3,696	I am not sure if this will apply to you, Michelle but with my mortgage it was in both my husband and my name, so we did a policy for each of us large enough to pay off the mortgage so that the survivor doesn't have to deal with the stress of making the payments if they can't afford it. Now that we don't own a house, I just have 3X my salary for me and a little more for him. His parents have a ginormous policy out on him, so I'm not too worried about funeral costs.

04-30-2009, 08:50 PM	#16
skiergirl Gixxer Girl Join Date: Jan 2009 Location: Kyle, TX Moto: 05 GSXR 750 & 06 YZ250F Posts: 1,424	I have enough to pay off my house, car, bike, credit cards and a little extra. I wanted my family to not ever have to worry about anything of mine and if it's all paid then they can sell what is left or do with it what they want in a way that can benefit them. It's different if you are married or have children, most people want some extra so the spouse doesn't struggle, which is a good thing.

05-01-2009, 08:19 AM	#20
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	Single, no kids.. Just get enough to cover funeral costs and maybe your mortgage. Check with your employer, you might already get 2x your annual salary for free. My work does anyway. I have a big life insurance policy but I have 2 young kids at home and a wife who doesn't work. She'd be fucked if something happened to me with no life insurance.