How Much Life Insurance Do You Own?

Lon · Post by **Lon** » Sun Aug 10, 2008 9:47 am

And Why?

TheNewDG · Post by **TheNewDG** » Sun Aug 10, 2008 9:49 am

1.5 million for the household. For obvious reasons: mortgage, college for any children, funeral costs, etc...

TheNewDG · Post by **TheNewDG** » Sun Aug 10, 2008 9:49 am

TheNewDG;947345 wrote: 1.5 million for the household. For obvious reasons: mortgage, college for any children, funeral costs, etc...

And none of you are the beneficiary so dont try and have me or my husband whacked.

Nomad · Post by **Nomad** » Sun Aug 10, 2008 9:51 am

None of your business.

Love Nomad :-4

CARLA · Post by **CARLA** » Sun Aug 10, 2008 9:57 am

Enough..

Lon · Post by **Lon** » Sun Aug 10, 2008 10:09 am

Nomad;947350 wrote: None of your business.

Love Nomad :-4

Fair Enough

With Affection, Lon

TheNewDG · Post by **TheNewDG** » Sun Aug 10, 2008 10:14 am

After considering how much your spouse makes yearly and suddenly losing that income, we opted to have half that for the next so many years (until said spouse is 65) and included education costs for any children, funeral costs and paying off the house. It adds up. You dont think you need that much until you put it all on paper.

It is really affordable too.

Accountable · Post by **Accountable** » Sun Aug 10, 2008 10:25 am

None on my beloved. No need unless I get a little to pay for the funeral.

I have about half what's recommended on myself because we have pensions & investments to cover most expenses.

chonsigirl · Post by **chonsigirl** » Sun Aug 10, 2008 10:41 am

Enough to pay off both houses completely.

sunny104 · Post by **sunny104** » Mon Aug 11, 2008 6:58 am

hubby has a small amount from work. We really need to get more on both of us. :-3

Accountable · Post by **Accountable** » Mon Aug 11, 2008 8:37 am

sunny104;948299 wrote: hubby has a small amount from work. We really need to get more on both of us. :-3
I hear 20 years' salary is the amount you want to insure. You can then invest that conservatively & safely to make 5% annually & keep your standard of living.

sunny104 · Post by **sunny104** » Mon Aug 11, 2008 8:41 am

Accountable;948469 wrote: I hear 20 years' salary is the amount you want to insure. You can then invest that conservatively & safely to make 5% annually & keep your standard of living.

that makes sense. :-6