Our friend and financial advisor came over last night to go over life insurance. Boy is it expensive. He recommends we get at least $500,000 with $400,000 Term Life and $100,000 Universal. So we can convert the term down the line..
It will cost us $1,200 a year... Not so bad..
Just wondering what everyone else has, sorry if I am asking TMI.
Thanks, Denise _________________
StepherG
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Re: Life Insurance Question?
We haven't gotten any additional insurance other than what my DH has through work. Since we're expecting in August, we need to get more insurance and a will together. From what you said...it does sound kinda expensive...especially with new baby and daycare costs. Thanks for posting the info...
Matt'sbride
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Re: Life Insurance Question?
We just got ours in December - it is expensive! My husband is covered for $2 million and me for $1 million and it costs us $1076 per year. I think it's just basic life insurance though - it's worth nothing unless one of us dies. I think the term life is more expensive. Ours is through Northwestern Mutual Life....
DeniseMang
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Re: Life Insurance Question?
Actually Term Life is the least expensive.. My DH is getting $400,000 for $300 a year. It is the $100,000 of Universal that is costing us almost $900 a year. That is why you were able to get millions of dollars of coverage for less than I am paying..
CathyB
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Re: Life Insurance Question?
We got $1 million Universal on DH a few months back. I forget how much it is, and he's on a business trip. I'll FM you once I find out. We got it through this company Manulife, which has since merged with John Hancock. HTH!
