Life Insurance

[Csara]

Do you have life insurance? Isn't it better to get as early as possible because the younger you are, the cheaper it is, and you can lock in the rate?

[Mel-icious]

I'm not sure about cheaper, I think it is, but not sure. :scratch: We have it, T's company offers it to each employee and their family. :D

[Lisa]

We have it. We have it through Prudential.

[kristen nov02]

Where is the option of yes, but we don't have kids yet. We have it through my dh's work.

[Life201]

It is cheaper the younger you are. What you need to keep in mind is that, if you can afford it, it’s really good to get a permanent policy that will lock in a rate and continue for your life or until you stop paying on it. If money is tight, you can get a term policy, typically 1, 5, 10, 20 and 30 year terms, which are less expensive and will lock in the rate for the period of the policy. You can roll it over to a permanent policy during the term without having to prove insurability, unless you increase the amount of coverage.

[monkeygirl38]

We each have it through work and in the next week or so we are taking out Whole Life: $100,000 on Jay and $50,000 on me (I have more through work than he does), then once the house is finished we are going to take out $100,000 term life on each of us so that if something happened, the other one could use that money to pay off the house then have the other policy for children and to help the other with general finances.

It is cheaper with every year younger you are and LOTS cheaper if you have never used tobacco products!

[meliz]

We've never bought life insurance. But apparently C is insured up the ying yang. His mom and dad insured him and I guess I am now the beneficiary. They've never discussed it with me, but have mentioned it to him. I'm thinking they want to make sure he stays safe and breathin'... afterall they do know how I like to shop...:)

[Mrs. July]

We both just got permanent policies and I also have insurance that my father took out on me shortly after I was born that I can cash in on in a couple of years. My sister was killed in a car accident almost 10 years ago and her life insurance was the only way we were able to cover expenses she left behind, so this was a no-brainer for us.

[Toryah]

We both have life insurance too :) Peace of mind really incase anything was to happen (god forbid!!) Bryan is covered for illness too as he has the higher income :)

[emben]

We both have life insurance (both through our work and I have additional coverage outside of work). He has a son, I don't have any children. I think it's important to be able to not only pay off all of our bills if something bad happens, but to be able to afford to bury each other. We also have minimal coverage on DSS, because God forbid something happen which is a horrible enough thought, but then to have to worry about how to pay for the expenses on top of the massive grief would be unbearable, I imagine.

[angelrenee]

We've got what would probably be considered way too much insurance for childless people, but we won't have to change it when the baby comes, either. :)

We have insurance on both of us through DHs work. I think it's something like 4 times his salary for him and I forget how much for me, but it's pretty high. We don't want either person to have to deal with figuring out how to pay any immediate bills or anything should something happen, so there's enough to pay all of the outstanding bills and funeral costs.