Life Insurance? - Page 2

[MonkeyPrincess]

I understand why other people would have more on their husbands, and not on themselves.

I truly was only speaking for myself when I said I couldn't figure out why my husband would have more coverage than myself. Considering we wouldn't take the childcare route, we would still make it so we could have the living parent at home full time to continue our current lifestyle as much as possible.

If my kids lost a parent, there is no way in the world I'd want to stick them in school/day care so I, or my husband, could get a job. I think it would be too hard on them. We decided to get that amount to pay off our house and van, and perhaps get a part time job to supplement living off the balance of the insurance. At least until the youngest would be older.

[Jilian]

Do you all mind sharing roughly how much your premiums are on your policies (and how long the term is and how much coverage)? I'm shopping around again and cannot find these $7/mo policies that Dave Ramsey speaks of. I'm finding it to be $21+ per month on DH and he's in the best health class and we're looking for a 20 yr term w/$500,000 in coverage.

Sorry to hijack :

[annekevdbroek]

Originally Posted by Jilian

Do you all mind sharing roughly how much your premiums are on your policies (and how long the term is and how much coverage)? I'm shopping around again and cannot find these $7/mo policies that Dave Ramsey speaks of. I'm finding it to be $21+ per month on DH and he's in the best health class and we're looking for a 20 yr term w/$500,000 in coverage.

Sorry to hijack :

Well, I think a lot depends on your health, the amount of the policy, how risky your life is (e.g. if you are a professional skydiver vs. a secretary), and probably other factors.

Dh's first 500K policy taken out when he was 30 was about 400 per year for a 20 year term.

We just upped to 1 million, he is now 35, and we opted for a 30 year term - that is about $850 per year, maybe $1000 (I just paid it but I can't remember because we had a credit from cancelling the old policy).

My policy, age 39, 500K, 30 years, is about 450 per year.