Life Insurance

[smalltowngal]

Anyone out there have a life insurance policy?? It is so important that we protect those that we love by insuring our lives. No matter your situation life insurance can benefit you. Ask yourself these questions...
If something happened to you would your children and/or spouse be burdened by your unpaid loans? Can your children afford education expenses? Will your debt be taken care of? Is there enough money for childcare? Are your funeral expenses covered?
I am not married yet, but have taken out a whole life insurance policy...it earns dividends and has a cash value so that I could cash it in if I ever needed to. Anyone else have a policy?

[sagespot]

Although I don't have a whole life policy, I do have life insurance through my husband's work (I'm currently doing consulting out of my home.)

I wanted to mention that one of my close friends has a whole life policy that she borrowed against to pay for a once in a life time trip to Australia last year. It was wonderful and she's had no problem paying back into the account.

I think its a great idea.

Sage

[mezzo soprano]

My husband and I both have life insurance... he has considerably more on me than I have on him, because I am the sole breadwinner in the family. If I were to die, he would not have nearly enough to pay off our home loan without the insurance. We have a $150,000 policy on him, $500,000 on me, and I have an additional $90,000 through my employer. I know that sounds like alot of money, but for DH to keep up any sort of lifestyle, there has to be some compensation for losing my earning power!

Our insurance is all term insurance, as we have other investments so we don't need to use insurance as an investment vehicle.

[batgirl9923]

I have some health issues so I have a whole life policy that we have had for about 6 years now. My husband had a whole life policy but both policies were costing us about $250 per month. In order to cut costs, we recently cancelled my husband's whole life policy & got a term insurance policy for him at a much lower premium.