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Mom Confessions Mom Confessions

Do you have financial security for your kids

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If something happened to you and/or your DH like life insurance?

I'm 23 and just realized the importance of having something in place. We took out a term policy for us and between the two of us we have close to a million and that makes me so happy that if something were to happen they would be okay.

Just hoping to get some mommas thinking about the unthinkable if they havent yet!
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by on Jul. 9, 2012 at 7:12 PM
Replies (41-50):
LuvmyAiden
by on Jul. 9, 2012 at 11:18 PM

We both have life ins and a will and such. And they are the benificiaries of our IRAs as well. They would be ok for sure.

Capricorn0119
by on Jul. 9, 2012 at 11:22 PM
I have a $500,000 for me through work and $12,000 for each one of my kids (just enough to cover a decent funeral). The survivor benefit from ssi would be around $900/mo for each so I think they'd be ok financially speaking.
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MommyBoha
by Ruby Member on Jul. 9, 2012 at 11:24 PM
Yes. We both do and both kids have trusts as well. We also have life insurance on the kids and they have their savings accounts as well
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Anonymous
by Anonymous 8 on Jul. 9, 2012 at 11:33 PM

Yes, of course.

Allisonc7910
by Gold Member on Jul. 9, 2012 at 11:34 PM

My dd has her own investment given from her grandma that passed that should be a good size to start her off in life.  I have life insurance but we are still looking for dh.  I have no idea where to start or what is the best kind, term or what.  If we would still be able to keep it once the term is up, depending on his health etc. So we need to speak with a knowledgeable insurance agent.

faeriemom1972
by Ruby Member on Jul. 9, 2012 at 11:57 PM
Yup, we're good.
Anonymous
by Anonymous 9 on Jul. 10, 2012 at 12:01 AM
No we can't afford it. It worries me sick not having it just in case.
MsRkg
by Gold Member on Jul. 10, 2012 at 1:49 AM

My son, in the event that something should happen to us, will be well cared for until he's at least 50. Everything my husband and I do is for our son,  and to us that also means making sure he is provided for when we are no longer here. We have multiple investments lined up for him to get when we pass as well as a few policies.

catngabsmom
by Gold Member on Jul. 10, 2012 at 2:29 AM

we have life insurance for dh, the kids and i. but as far as financial security for them? nope, my dh has financial security for us, the reap the benefits because they are our children. when they are adults they will need to make themselves financially secure!

psychobilly_mom
by on Jul. 10, 2012 at 2:42 AM

No... I am very young and Naive and have not thought of this at all. However when I was dying in the hospital my brother told me I should have gotten life insurance... o_O 

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