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Do you have life insurance? How much is it worth? How much do you pay?

I know i should have one for me and SO. I just dont know how much i would be paying a month. I am 20 and he is 24, both in perfect health.


Asked by dennysgirl07 at 1:24 AM on Sep. 19, 2009 in Just for Fun

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Answers (7)
  • The costs of life insurance can vary a lot. Is it term or whole life, how much do you want/need, etc. It is a very valuable thing to have. If one of you died tomorrow, would the mortgage or rent still get paid, daycare, other costs of living? Not to mention funeral expenses. We don't have a lot, but enough that our debt would be paid off, and neither of us would have to find a second job to pay the bills. Ours are both through our work, so honestly I have no idea what we pay, it just comes right off our paycheques.

    Talk to someone about it, you're both young and in good health so the expense should be low, and it will give you peace of mind.

    Answer by canadianmom1974 at 1:33 AM on Sep. 19, 2009

  • My DH has life insurance. I'm not sure for how much it is worth or how much it costs. He's in active duty military though, so it's kind of a must have.

    Answer by outstandingLove at 1:28 AM on Sep. 19, 2009

  • I have one, well my father has one on me not sure how much it's worth or how much he pays but... Sad thing is, I'm worth more dead than I am alive (In his words LMAO)

    Answer by KalebsMommee at 2:05 AM on Sep. 19, 2009

  • We have enough on my DH to pay off our home and cover all the expenses for a year, that is what our financial consultant suggested we have as the minimal coverage. it only cost us about $10 per month and it is through his work it has no cash value unless he dies. Every year we up it the maximum allowed during our open enrollment just so there is a buffer to pay for extras like kids college and to pay off our vehicles. we also have coverage on me although it is not as much and we have enough on the kids to cover funeral expenses if needed ( I pray to god we will never need it)

    Answer by 3_ring_circus_ at 2:34 AM on Sep. 19, 2009

  • I am 28 healthy, but overweight. I do not smoke either. For 250,000 of term life, I pay 34.00 a month. It is that high because I am over weight. My husband has SGLI through the Army and it is 400,000, then we have an additional policy for him the is an additional 350,000 and that is 35.00 a month. His is so high because of his job and what he does. You can get policies for 250,000 that are only 15.00 a month. You just have to shop around. Some will require you to have exams, some wont.

    Answer by 2-1CavWife at 4:30 AM on Sep. 19, 2009

  • Me, my husband and our twins all have insurance. It was the best desicion we have ever made escpecially when our son passed away. The price really depends on the type and how much. You could get term insurance which is cheaper but doesn't gain any apperciation or there is permanent insurance which is more than term but gains more value. I have a 500,000 policy (term) and pay 25.00 a month. My husband has a million (perm) and im really sure what we pay for that. Both of our babies had 40,000 and that was 17.00 a month. The price also depends on your overall health...diabetic, genetic diseases etc. Getting a baby insured will protect them, if they ever end up getting a life threatening disease they will not be dropped (at least with our company). We go through Northweastern Mutual Financial Network, they are all over the US. Best desicion you will ever make.

    Answer by devo3 at 10:21 AM on Sep. 19, 2009

  • Hmmmm......I think I'm worth about $200K through my husband's job. He pays $9 per month for mine.

    Answer by PrydferthMenyw at 1:29 PM on Sep. 19, 2009