Seperate but still financial - Life Insu

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Seperate but still financial - Life Insu
17
Fri, 09-19-2008 - 8:42am

Do you have Life Insurance or is it one of those things you keep putting off?


It basically hit home with me a couple days ago.

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iVillage Member
Registered: 04-22-2007
Fri, 09-19-2008 - 9:32am

How sad for that family.

<a href="http://www.TickerFactory.com/debt/wsT5Uqy/"><img border="0" src="http://tickers.TickerFactory.com/ezt/t/wsT5Uqy/debt.png"></a>

iVillage Member
Registered: 11-17-2007
Fri, 09-19-2008 - 9:53am

Becky


Yes you should get a very big insurance policy on your husband. It isn't the house you should worry about but how you and the kids are going to just live if anything happens to your husband.


For years I was to fat to get any life insurance. So I started a saving account and put in a little each month to take care of putting me in the ground. I have borrowed from it from time to time never very much Now I have 2,000 put aside

iVillage Member
Registered: 11-17-2007
Fri, 09-19-2008 - 9:57am

PS you need a 401K in your name too. I waited to long to get one Didn't understand it much I wish now I had one


Don't do and I did my mother used

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Fri, 09-19-2008 - 10:19am

Ahh...the 401K I have!

iVillage Member
Registered: 01-25-2006
Fri, 09-19-2008 - 10:23am

Hi Becky,


I would have to agree that getting some life insurance in place is pretty important for your family.

iVillage Member
Registered: 03-27-2005
Fri, 09-19-2008 - 10:37am

My order of priorities for payments

iVillage Member
Registered: 09-26-2006
Fri, 09-19-2008 - 11:58am

As part of my divorce, my ex and I were both required to maintain a $500,000 life insurance policy. I have a $500,000 policy, plus the place where I work gives me a $150,000 policy. Since we are both remarried, I would probably let the $500,000 policy go if I didn't have a disabled son.

I will be putting all my assets in a revocable trust soon and writing a will.

I am so sorry for any family who loses a parent at 42. My heart goes out to them and to the kids. My husband's kids are still getting over their mother's death when they were in their twenties (they are in the young thirties now), so I can imagine the kids will have a lot of grieving to do.

Recreating Myself

iVillage Member
Registered: 09-20-2004
Fri, 09-19-2008 - 12:05pm

Becky,


I knew I should have life insurance for years, but didn't actally get a policy until I was 30.

iVillage Member
Registered: 01-25-2006
Fri, 09-19-2008 - 12:29pm

Becky,


Don't forget you can withdraw your initial contribution to a Roth w/o penalty after 5 years.

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Fri, 09-19-2008 - 3:40pm

We have a life insurance policy on my husband. Since he is the sole bread winner, and travels alot with his job, we found it necessary. God forbid....if something happens to him,

Good luck to you. I know when we're struggling financially, it seems difficult to think about adding to our expense. However, find it in your budget and shop around.

MYM

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