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Thread: life insurance?

  1. 01-14-2010, 06:30 AM #1
    ml2620
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    Default life insurance?

    I'm starting to look into a life insurance policy for dh and myself. We are expecting our first child in august, and basically just need enough to raise our child if something happened to one of us.

    What have been your experiences? What helped you make the decisions and can you recommend any good resources for learning more?
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  2. 01-14-2010, 07:04 AM #2
    Russ
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    here's a good thread regarding the subject.

    Another whole life example - whole life sucks
    Russ

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  3. 01-14-2010, 09:19 AM #3
    Greebo
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    Quote Originally Posted by ml2620 View Post
    I'm starting to look into a life insurance policy for dh and myself. We are expecting our first child in august, and basically just need enough to raise our child if something happened to one of us.

    What have been your experiences? What helped you make the decisions and can you recommend any good resources for learning more?
    Get 20 year TERM LIFE policies that cover each of you for 10x your annual income.

    Try Nationwide, Met Life, and Zander Insurance to start.
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  4. 01-14-2010, 11:08 AM #4
    mombottoo
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    If either of you are employed some employers offer life insurance through their group insurance plans. These plans are very economical, the downside is if you lose your job you lose your insurance.

    Term life is the best option if you have to buy it on your own.
    "Life is what happens while you are busy making other plans." John Lennon
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  5. 01-14-2010, 12:53 PM #5
    khaski
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    You need enough on each of you the other one could live off the interest alone each year and if one of you stays home you need to figure in childcare costs. One mistake a LOT of people make is not insuring the stay-at-home parent- a BIG mistake- should something happen to them, all the sudden the household expenses go up significantly, with child care, housecleaning, whatever.


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