With one child and another one on the way, my DH and I realized that it is a really bad idea not to have any kind of life insurance... I don't know anything about it and I'm not sure where to start. Any info shared would be much appreciated! TIA!
emilain
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Re: Life Insurance?
Sit down with an agent. They estimate your cost of monthly living and add social security and come up with a plan. You want to be able to pay for all your bills and then some, god for bid! We also have a cash-out option, so if 10 years down the road we need some money we can borrow against the policy which then decreases the value of the policy but if feels better thinking we can get some money out of this if we both stay nice and healthy, it's also a good retirement plan.
Get in that delivery room girlfriend!!!!!
Florenze
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Re: Life Insurance?
Weird you should bring this up today. We just signed our policies today. After shopping around we decided to go with State Farm. We choose a Universal life policy, which is more money a month,(verus a term policy) but after 20 years you get what you put into the policy (with interest) and there is also an option to borrow against the policy if we ever had to. Definitely shop around.
kptoys
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Re: Life Insurance?
We got our life insurance where we have all our other insurance (Roy Reeve in Mattituck). My moms been dealing with them for years. We have whole life and term life insurance. Of course Derek has more since he is the one who brings in the bucks but I also have enough in case something should happen to me there is money to cover some childcare.
Kate
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Re: Life Insurance?
Is whole life the same as universal life?
michele31
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Most books I have read on the subject discount Wholelife as not a very good idea. Anyway you should speak to someone that you totally trust and is not just trying to sell you something. I worked with Tara Roach...a LIW bride Scott and I both have policies through work and through a private insurance. I think it is VERY important that both mom and dad have life insurance.
kptoys
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Posted by Kate
Is whole life the same as universal life?
Yes
JENNCHRIS
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Do these policies cost a whole lot monthly? As it is we have enough expenses, mortgage, insurance, etc.
dengal
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Re: Life Insurance?
It depends on the type (whole vs. term) and the coverage amount. You also may want to consider disability insurance.
