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Do you have LIFE INSURANCE???

Discussion in 'Random Ramblings' started by Mattemma, Nov 27, 2011.

  1. Mattemma

    Mattemma Overrun With Chickens

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    My friend has been nagging me to get something since we have kids AND health issues. She had something from MET LIFE.

    I don't know what to get or from where. Do you have anything? Type and company. All I know is term life insurance. I know there are many types.

    I remember my mom having enough to cover the house in case she died. I was thinking 100k is enough. Lol,don't want a million on my head!

    Dh says if I find something we will get.So what do you have and/or what experiences have you(and people you know) had with premiums going way up, and collecting the money when an insured person died.

    Thank you very much for your input. It will help me in my research.
     
  2. sonew123

    sonew123 Poultry Snuggie

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    I have insurance for everything! I have policies out on DH-both girls-and me.

    My policies are through work. If I die (when still employed/working there) My hubbie gets my salary x2 ..That was a perk that came with my position.
    I also have an extra policy for 100 grand on me for Dh and each of my girls get 30 grand-set up for college and such.
    if My Dh passes I get 250 grand-but its done up for the long haul-funeral expenses get paid right off the top -the rest in installments.

    I have policies on my 2 daughters-20 grand each-God forbid they pass-I bought the ins to cover their funeral expenses.

    I think thats it?? All of those policies we've had for YEARS and I pay less than 100$ a month for it all.

    I have been harrassing my mother for years to get insurance...They have nothing-no ins-no $ period. I said Mom whos going to be able to pay for yours or dads funerals??? She told me to bury her in my back yard! [​IMG] They never take anything seriously-it's pathetic


    You need to get something...even if it's small-just enough to cover funeral/burial expenses..something small to leave your children for education?
     
  3. oesdog

    oesdog Chillin' With My Peeps

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    I think your better having insurance than not especially if you have a house that has a mortgage attatched.
    You also have to think on any dependents who may be left and need care if you die suddenly.
    You have to be up front and honest with the insurance company. If you have an underlying health issue and you don't declare it then it could render your policy unviable.
    We were with an insurance company for 26yrs and then DH had a heart attack. After that the premiums went up for him. First they told us he was uninsurable with them and then they told us that we could have insurance if we paid them £3'000 extra up front!!!!! So we ditched them and went to another company. We know of folk who have not declared health issues and when a partner claimed from their dead husbands insurance they were unable to get a pay out. So we were up front and ended up being told My partner could not be insured with them. Thank GOD we didn't just NOT tell them or if he did die we would have been paying into a policy with no value. As I couldn't have claimed on it. So now we have a new company and a new policy - less of course and bigger premiums but at least I know if he dies its all upfront and they WILL pay out. Pitty about the other policy though as DH isn;t worth murdering for the pittance I will get from this one!!!!!!!!!!! Ahhhhh [​IMG] [​IMG] [​IMG] [​IMG] The other policy was worth a good lot of money for the kids because they are disabled so we were sad about having to change everything that we felt we had security for their future in. But at least we have insurance!!!!!! That is the right thing to do!!!!!!!

    Oesdog
     
    Last edited: Nov 27, 2011
  4. Mattemma

    Mattemma Overrun With Chickens

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    Thanks for the posts. I wish dh had something through work. I will ask when he gets up.I think only disability and 401k are what they give.Yea, funerals are expensive.When my step dad died(heart attack at age 34!) in 1989 the cost was close to 5k! Plus my mom had to pay to have his body shipped from FL to Ohio. Just never know. Yeah we will be totally honest on the health issues and see what we can get.
     
  5. stoopid

    stoopid Chicken Fairy Godmother

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    When we were younger, we didn't think of the stuff OLD people talk about.
    I had a customer, came into the store all the time. FULL of life, always a pleasure to see her, always so positive and energetic.
    After not seeing her for a few months, and not really thinking about it, her husband came in to buy parts.
    Barbara had dropped dead on the kitchen floor of a brain aneurysm. No warning signs, no symptoms. 40 years old.
    That same week, we got life insurance. Just the cost of burying someone today is insane.
    Crappy post, I know. But this is what life is. Sorry.
     
  6. sonew123

    sonew123 Poultry Snuggie

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    Quote:Yes, something is better than nothing. I told my mom Id help her-My dad has had this policy through Prudential for 50 years. I told her to call and ask what the value was at this point-they've been paying 5$ a month for it. 5$!!!!! It can't be worth much BUT she thinks its for 5 grand. I found a policy that would fit them for 50 grand each..cost=75$ a month. She says thats rediculous...Um mom-you both have health issues and God borbid something ahppen to either one of you-you will have at least funeral and living expenses for a few years covered for just $75 a month...it could happen next week..year.?? whenever-but your covered [​IMG] She wouldn't do it!
     
  7. sonew123

    sonew123 Poultry Snuggie

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    Quote:exactly! you never know when your time will come:( I just wanted to make sure my children were not burdened by a debt from me at such a young age. They are both going to college in a few years and thats the last thing they should have to worry about...
     
  8. Marcymom3

    Marcymom3 Chillin' With My Peeps

    When we were newlyweds almost 38 years ago, my husband met with a Northwest Mutual agent who happened to be a friend of his. Harvey helped us figure out what and how much insurance we would need and more importantly, how to do it within our budget. Hubs was finishing up his BS and I worked as a secretary. Needless to say we didn't have a whole lot of money. Anyway, what he suggested was a term policy as well as something called a whole life policy. The last one is something like a retirement account, and once Hubs turns 65 in April, he will be able to collect the dividends. In these terrible economic times when everyone's 401K has been decimated, that account has still been making money. They call Northwest Mutual the quiet company. You see very little advertising for them. I'm sure most companies have policies like this, but whichever one you choose, make sure you have an agent who follows up with you every few years as your family and needs grow.

    Be sure that you have enough insurance on both of you to cover your home and to educate your children if anything happens. (God forbid!) It's better to have too much than not enough.
     
  9. Mattemma

    Mattemma Overrun With Chickens

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    I have been playing with the instant quote over at met life.Smoking raises the premium by atleast $30! I am pretty low at $20-30 a month,but dh would cost anywhere from $60-100 with smoking,age,sex,and health rating of good or fair. Been looking at term/100k/20 yr.

    It is higher ofcourse because his chance of dying sooner than me is higher.So they predict!
    My friends mom died one morning of a brain aneurysm.

    You know I have been telling family that it is not a matter of IF but when. We are all dying the minute we are born. Family gets are huffy when I bring up insurance,wills,survivorship deeds,funeral options.I say plan it all out before things happen!
     
  10. sonew123

    sonew123 Poultry Snuggie

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    YES!!!! Im the only one in my family that is preparred..scarey really:( Ignore them and take care of you and your family to the best of your ability. WHEN something does happen you will feel better that you listened to yourself and not the others!
     

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