 I received money as a bebeficary of a friends accident insurance after his death can anyone question it? |
Additional Details
I was designated beneficiary but I'm not family can his family is there any chance they could get it changed in court?... |
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 Life Insurance: Do you have it ? How old were you when you start paying for it ? Try AIL? |
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 How much should we expect to pay for Life insurance? |
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My wife recently had a slip & fall and has a diagnosed concussion (mild) she has been suffering with terrible headaches and pain in her neck.
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| Okey dokey, so roughly how much would $250,000 of term life insurance cost annually for a 40 year old male non-smoker for a 20 year term?... |
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| i got robbed and pistol whipped at my job. This happend in jan. 2007 i went back to work in february 2007 then quit in may 2007 because i was too scared to continue. i havent worked since then. can i ... |
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Veritas et Aequitas () | Is $50,000 life insurance policy enough or should I get more (more info in details)? |
I currently have a $50,000 7-yr term for $5/mo right now. I have been thinking about getting $250,000 30-yr term policy. But I don't know if I really need it right now. I am 27 and married with no children. House is paid off and cars are paid off. I only have student loan debt which would die with me. Not sure if I should just stick with the $50K for a while or would it be better to go ahead and get the 250K? |
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Scott W
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You need to ask yourself one question. What is my intent or goal for the policy? If its to cover my funeral expenses and give my wife a few dollars then $50,000 would be enough in the next few years (before your policy expires on the 7 year term). If you plan on moving or having children anytime in the next 10 years then your current situation will not have any bearing on your decision.
Most insurance agents want you have enough to pay off credit cards, mortgages, replace about 3-5 years worth of take home income and start funding for college (depending on # of children would depend on how much you needed). You also want to determine if your trying to just bridge the gap between now and 30 years. I currently have 3 $250,000 30 year term policies. I took out the first one at 25, 32 and just now at 38. By the time I hit 55 or 60, my needs will be different and therefore the differences in ages when they started. I want to make sure my wife and kids could survive if something were to happen to me between now and 50. When I'm 50 I will have one in college and another just starting. When i'm 55 one will be out and the second one will be close to getting out. Now, keep in mind, your premium will be different at each age group as well.
You must be able to see what your future will hold for you and not your current situation. I say go with the 30 year term and then add another one in about 7-10 years based on your then current situation....Good luck. |
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bud68
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Get the 30-year level term policy now. The sooner you get it, the cheaper it will be. |
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mbrcatz
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What is the GOAL of the insurance policy? Until you've set the goal, no one can tell you if this is the appropriate tool to meet the goal.
Set the goal first. |
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Doctor Deth
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since you're married, you need more than 50k for your wife to survive = 250k term at your age should only cost $250 a yr maybe right now? and not a whole lot more at age 40 - can you get group term life thru work? |
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Bill K
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Get it now cause it is very cheap in your age.
lifeinsurance.awardspace.info - you can try this company. I personally have their life insurance. |
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PvtStorm
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You would want enough money to bury you and support your wife long enough for her to get to a point where she can support herself. If she's uneducated, you'll want enough money to send her to school and live on until she graduates. If she's already educated, enough money to live on while she grieves would be enough. Once you have children on the way, 50K is not enough.
I've heard some say two year's salary should be a minimum. |
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The Income Protector
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If your spouse (or future children, if you plan to have kids) will have a financial problem because of your death then you should get enough life insurance to replace that income for them. This can be a substantial amount of 15x annual income or more. |
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JR
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If you can afford more then get more, but don't break yourself over it! |
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