Life Insurance, how do you feel about it?
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13-06-2016, 06:32 PM (This post was last modified: 13-06-2016 06:48 PM by GirlyMan.)
RE: Life Insurance, how do you feel about it?
(13-06-2016 06:13 PM)Heatheness Wrote:  
(13-06-2016 06:05 PM)GirlyMan Wrote:  Conflicted. I got a $1 million term insurance policy right now. But I can't afford the ever increasing premiums forever. ... decisions, decisions ....

You make me cry. Sad

I'm sorry. I didn't mean to.





It's worth a watch just to see Robin Williams. There are those of us here who know where he was at when. ... His name was Erik.

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13-06-2016, 06:34 PM
RE: Life Insurance, how do you feel about it?
When the kids were little we kept about 500k in insurance between us so if something happened to both of us, say in a car accident, whoever would get the kids would be helped financially instead of strapped by taking care of them. But once they moved out I cashed out mine as he didn't need it and his was mostly paid through work. What I have now is after my debts are paid 1/4 to each of my 2 kids and then the grandsons get a small cd bought for collage or cash out at 25 if they don't go to school after HS.

Some people I know have paid in all their adult lives for policies that benefit their kids in a pretty big way. Even when they struggled with layoffs and various life issues. I just never felt that way.

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13-06-2016, 06:35 PM (This post was last modified: 13-06-2016 06:39 PM by Heatheness.)
RE: Life Insurance, how do you feel about it?
(13-06-2016 06:32 PM)GirlyMan Wrote:  
(13-06-2016 06:13 PM)Heatheness Wrote:  You make me cry. Sad

I'm sorry. I didn't mean to.




Hug

I love that song. Heart

That's Robin in that vid, isn't it?

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13-06-2016, 06:40 PM
RE: Life Insurance, how do you feel about it?
When I was still working, I had a policy that paid 10X my gross pay, since I got it relatively inexpensively at work. Once I retired, that went away. I still have a piddly life insurance policy that I pay $120 a month on that I should cancel, since I am now essentially self-insured.
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13-06-2016, 06:58 PM
RE: Life Insurance, how do you feel about it?
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13-06-2016, 08:21 PM
RE: Life Insurance, how do you feel about it?
We both have life insurance through my husband's employer; my husband's is for more and mine is for less (I think it's something like $500K and $100K). We'll probably maintain it as long as we have an outstanding mortgage on the house and our son is in college, or until my husband leaves this job.
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14-06-2016, 09:43 AM
RE: Life Insurance, how do you feel about it?
Did someone say "life insurance"??? Hobo Tongue

^I work at a life insurance company, lol. Big Grin

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14-06-2016, 02:32 PM
RE: Life Insurance, how do you feel about it?
I think it's important to have some, but the amount varies by the person. Like I'm single. I have no children. My beneficiaries are my parents, for the moment, because I have no one else to list. I've got two policies, one through work and one that I've had since I was a baby and my parents took it out on me and then it switched over to me at 18 or 21 or whatever. There's enough to bury me, between the two, and a bit more to help with other expenses.

However, I think policies become more common with how much you make and how many dependents one might have. For instance, Jerry Falwell had enough in life insurance that it paid off Liberty's debts, with millions to spare, when he died. Or I have a friend with 3 kids who has a slightly larger policy, so his underage kids are taken care of in the event of the worst.

Need to think of a witty signature.
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14-06-2016, 03:11 PM
RE: Life Insurance, how do you feel about it?
Why do they call it "Life Insurance"???

It doesn't insure you'll live - and - they only pay off after you die..............

........

If you want to insure you'll live - quit smoking, drinking, drugging, and having risky sex.............

But then -- what's the point???

Big Grin

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14-06-2016, 03:44 PM
RE: Life Insurance, how do you feel about it?
Nope. No whole of life insurance (as it's termed in Australia) for me. Not married, no kids, no debts, home owner, healthy for age.

But, were I a much younger bloke with a wife and little kids, plus a home mortgage and credit card debts, then I'd definitely have it.

I guess it's one of those evil necessities of life when you're younger, and with lots of financial responsibilities—and even more should you die.

I'm a creationist... I believe that man created God.
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