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Life insurance

Posted by Anonymous   + Show Post
How many of you have it?
I decided as soon as my first child was born, we needed life insurance. Both of us have 2 policies each one that we pay on and the other is through our jobs.
I know a lot of my friends who don't find this important, but I did with having children.
Our next step is getting a will in place and to set up our funeral arraignments. I don't want to bother my children with planning my funeral or having them paying for it. I want everything set up so when the time comes it is one less burden they have to deal with.
Posted by Anonymous on Jan. 24, 2013 at 4:42 PM
Replies (21-27):
Anonymous
by Anonymous 1 - Original Poster on Jan. 24, 2013 at 4:52 PM
My dh has the one through his work and its based on if it happens inside or outside the job. One pays more then the other. Mine is just a one time payment regardless where I am.


Quoting countrygirlkat:

After we got married we each got a small policy.  When we got pregnant with our oldest son we added much larget policies.  DH also has a policy through his work but I don't know much about it because they pay for it.  As for the will and such we are hoping to do one this spring.  We do have a written and signed thing saying where the kids would go if both of us passed away but I would much rather have the whole will and make it all done right. 


Anonymous
by Anonymous 1 - Original Poster on Jan. 24, 2013 at 4:56 PM
I know, I have to do it. It's been on my mind for so long. I guess in a way it kinda makes everything so final. That's why we haven't done the final preps. Plus we need to figure out where we want to be buried. I would like to have plots for the whole family but I know when they get married things will change.


Quoting LiesLiesLies:

It makes things so much easier on your family and children. They will save so much in legal fees!




Quoting Anonymous:

That's one of the things we need to do. I feel so unprepared when I had my surgeries and they asked me if I had a will and such.






Quoting LiesLiesLies:

Oh and I have a will, living will and power of attorney. I'm very prepared for my demise lol!



countrygirlkat
by Silver Member on Jan. 24, 2013 at 4:57 PM

Yeah, that is how my DH's is too.  I think it is like if it happens off the job then I would get one year's salary and if it happens at work I get like 5 year's salary or something.  I am not sure.  I hope I don't ever have to find out. 

Quoting Anonymous:

My dh has the one through his work and its based on if it happens inside or outside the job. One pays more then the other. Mine is just a one time payment regardless where I am.


Quoting countrygirlkat:

After we got married we each got a small policy.  When we got pregnant with our oldest son we added much larget policies.  DH also has a policy through his work but I don't know much about it because they pay for it.  As for the will and such we are hoping to do one this spring.  We do have a written and signed thing saying where the kids would go if both of us passed away but I would much rather have the whole will and make it all done right. 



Anonymous
by Anonymous 1 - Original Poster on Jan. 24, 2013 at 4:58 PM
I remind mine at least on a monthly basis.. Lol


Quoting Anonymous:

I like to remind my dh of this fact whenever he gets on my last nerve lol




Quoting Anonymous:

sadly i'm worth more dead then alive right now lol. 



LiesLiesLies
by Platinum Member on Jan. 24, 2013 at 4:59 PM
If your kids are minors please do not forget to set it up so their money will be put in trust so they can only access for certain things until age or (I did my DDs) college completion.

It's a huge mistake to hand an 18 year old a ton of money/assets.


Quoting Anonymous:

I know, I have to do it. It's been on my mind for so long. I guess in a way it kinda makes everything so final. That's why we haven't done the final preps. Plus we need to figure out where we want to be buried. I would like to have plots for the whole family but I know when they get married things will change.




Quoting LiesLiesLies:

It makes things so much easier on your family and children. They will save so much in legal fees!






Quoting Anonymous:

That's one of the things we need to do. I feel so unprepared when I had my surgeries and they asked me if I had a will and such.








Quoting LiesLiesLies:

Oh and I have a will, living will and power of attorney. I'm very prepared for my demise lol!




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Anonymous
by Anonymous 1 - Original Poster on Jan. 24, 2013 at 5:02 PM
That's kinda like how his works. I don't want to find out either. If something happens to either of us I just want to make sure we have enough money for these kids. People just think social security will cover it , but when your kids are over the age of 18 it won't matter.


Quoting countrygirlkat:

Yeah, that is how my DH's is too.  I think it is like if it happens off the job then I would get one year's salary and if it happens at work I get like 5 year's salary or something.  I am not sure.  I hope I don't ever have to find out. 

Quoting Anonymous:

My dh has the one through his work and its based on if it happens inside or outside the job. One pays more then the other. Mine is just a one time payment regardless where I am.





Quoting countrygirlkat:

After we got married we each got a small policy.  When we got pregnant with our oldest son we added much larget policies.  DH also has a policy through his work but I don't know much about it because they pay for it.  As for the will and such we are hoping to do one this spring.  We do have a written and signed thing saying where the kids would go if both of us passed away but I would much rather have the whole will and make it all done right. 





Anonymous
by Anonymous 1 - Original Poster on Jan. 24, 2013 at 5:05 PM
My youngest is 16 and I don't plan on going anywhere just yet. My oldest who is 21 is the secondary on both our policies if anything happens. She has a good head on her shoulders so I have no worries about that.


Quoting LiesLiesLies:

If your kids are minors please do not forget to set it up so their money will be put in trust so they can only access for certain things until age or (I did my DDs) college completion.



It's a huge mistake to hand an 18 year old a ton of money/assets.




Quoting Anonymous:

I know, I have to do it. It's been on my mind for so long. I guess in a way it kinda makes everything so final. That's why we haven't done the final preps. Plus we need to figure out where we want to be buried. I would like to have plots for the whole family but I know when they get married things will change.






Quoting LiesLiesLies:

It makes things so much easier on your family and children. They will save so much in legal fees!








Quoting Anonymous:

That's one of the things we need to do. I feel so unprepared when I had my surgeries and they asked me if I had a will and such.










Quoting LiesLiesLies:

Oh and I have a will, living will and power of attorney. I'm very prepared for my demise lol!





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