Tell me about life insurance - Mothering Forums

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#1 of 3 Old 09-19-2005, 07:59 PM - Thread Starter
 
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I was just scanning some other threads about budgeting and saw life insurance mentioned frequently. I am totally clueless about life insurance. Is your entire medical history reviewed? Just the past couple years? Just the last month? I'm curious because I had some health problems in the past, but I have been doing fine for a couple of years now and don't even take meds or anything. I could also stand to lose about 30 pounds. Does weight matter? Will I pay more because of the pudge?

Any info/experience you can share would be great! TIA
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#2 of 3 Old 09-20-2005, 01:08 PM
 
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We recently went to a financial advisor who is helping us get debt free in less than 10 years (if we stick to the plan inerringly - which we're not, but we're trying!) - which is pretty neat, I think. (I'm a sahm and my dh works full time for a church, so it's not like we're rolling in cash.)

We got a new life insurance policy to replace all the other ones we had - we has some cash value policies for each of us, as well as $100K term life on my dh.

The new single policy we got is for my dh, but it has riders on it for me and ALL our children - both existing and future. (They will each have $10K rider - all included in the policy).

We just had to have a guy come to the house who took our blood, weighed us, and got our height. He also had a questionaire he filled out - based on history, etc.

We're non smokers, overweight people. and we got the policy. It's for around $200K (I am not looking at it at the moment.) It is cheaper than all 3 of the previous policies AND it even added in the children. It's term life. Guaranteed for 20 years, with option to renew down the road.

You might be surprised at what's out there. I sure was. I didn't know I could go the combo route like that. We save $32/month now. - which is now being applied to our mortgage. It all adds up on getting that mortgage paid off.

The financial advisor was free, btw. they gave me a whole booklet personalized for us that shows us how we can truly get debt free - and even still keep tithing (which is important to us - most of the other debt free places we've inquired into always seemed to eliminate the tithing.) I found out about it thru my church. Not sure where you are - I'm in Ohio. The name of the company is Faith full Family Finances. They even have a website that might tell you more. www.fflife.org and a phone - 1-888-397-debt

It doesn't cost anything and they don't 'make' you do anything. They just help you figure out how to get debt free faster - and you may already be doing some of the things.

This ended up being more than just about getting the insurance. Hope it was helpful, though.
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#3 of 3 Old 09-21-2005, 01:01 AM - Thread Starter
 
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Thanks so much for all the info! I will look into the site you mentioned. I don't know if the service is meant for us since dh and I are agnostic/atheist and it sounds like this service is more "faith-based", but I really appreciate your input. We don't "tithe" necessarily as a religous practice, but we are committed to donating to a couple of charities each month that are important to us. It WOULD be nice to deal with people who understood that this particular monthly allotment means a great deal to us. Thanks again for all your comments!
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