 Why do parents take out life insurance policies on their children? |
| I just got an ad for a "Gerber Life Grow-Up" plan as an insert in my morning paper. The whole idea weirds me out big time! The ad claims that a child will "have trouble getting a ... |
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 Help on life insurance...? |
help on life insurance...?
what are your opinions and what types are better?
i am a wife and mother in my early twenties. i haven't ever looked into this subject matter and ... |
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 Stolen car returned?? what happens now? |
| hi if a car has been stolen and insurence has paid out what happens if the car is returned by the police in the future?... |
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 Will My Marriage Stay Secret? |
| My Fiance and I have decided to get married next friday in a courthouse (we've been engaged for 3 months). The reason we are rushing this is because his parents are both very religious and don�... |
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 Is food spoilage caused by no electricity covered under homeowners ins? |
| My electricy has been over a little over 24 hrs. Is food spoilage covered by this covered by my homeowners insurance?... |
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 How does life insurance work? |
100 million life insurance ...... how does selling someone 100 milllion dollar lfie insurance benefit the company selling it.
i was readin this article of the highest sold life insurance ... |
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 Is my employer charged for workmans comp if he's not at fault? |
| we are subcontracted painters for a company that builds modular homes....the steps leading into the building collapsed and i sprained my knee...i was told by my employer not to go after the company ... |
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 How can any company offer Life Insurance without any medical exam? Is there a catch? |
Say I just found out I have a few months to live. I sign up for 150k life insurance. How much will my family actually get in case of death?
I heard withinn 2 years they have a limit. B... |
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 Is my employer responsible for paying insurance for month of June if last day of work was June 1 in texas? |
| My termination date was June 1, 2006, does my employer still have to pay my insurance which was part of my salary for the full month of June?... |
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 Where can I get help to cover funeral expenses? |
| My father died yesterday, and he was jobless, had no insurance, and recently was assaulted which could have led up to his death (hasn't been determined by M.E.). My family really needs help ... |
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 Do I have to pay my insurance ticket if I drove an uninsured car while I owned another insured car? |
Here is what happened: my mother drove my uninsured car and got a speeding ticket plus an insurance ticket.
Since she owns a car with current insurance (its just this one time that she ... |
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 Car insurance question? |
| is it cheaper to pay per month or in one go once a year?... |
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 I got in a near fatal accident. I broke my back in three places, bruised my brain, and fractured my skull.? |
| I was notdriving I was in the passenger seat. My stupid cousin was drivin too fast and she hit gravel then the car spun out. Then rolled over a bunch of times then finally hit a cement embankment. N... |
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 Can a 14 year old work as an estate agent? |
| or what other jobs are there, i need two thousand ... |
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 My water heater broke on sat and on sunday statefarm told us to go ahead and have it repaired? |
| okay, on sat our water heat broke- water was boiling out of the top and my laundry room was flooded and my floor was flooded with about 2 inches of water. we called them and they told us what our ... |
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 Do you believe in having life insurance? If so, do you have life insurance? |
I have a friend who sells insurance so I wanted to ask you guys...
1.) Do you have life insurance?
2.) If not, why have you NOT purchased life insurance?
3.) If you HAVE purchased life ... |
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shakedown1979 | What is the average life insurance amount people take out? |
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 |
 
spot
 |
There is a formula for recommended amount. It was like 10x your salary for the family. |
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Eebles
|
7-10 times your annual salary is the recommended amount. Consider other factors, such as the amount left on a mortgage and any children that are under 18, as well. |
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bacon lover
 |
The average American takes out from 100k to 150k but most Americans are under insured |
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Hadley
|
The average new life insurance policy in 2002 was $119,310. Of the new life insurance policies purchased in 2002, 49% or 7 million were term insurance policies. The most popular form of term insurance is level term life insurance which offers a fixed premium.
Source: American Council of Life Insurers.
For more life insurance facts, go to http://www.term-life-online.com/life-insurance-facts.html |
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JD
 |
It all depends on factors for you and your family - Usually you want about 10 times your annual salary - It should be able to pay off mortgage, put your kids through college and help sustain your family for 2 years and unfortunately pay for your funeral. Your life policy should be a combination of Whole Life and Term Life, with 75 to 80 percent being a Twenty Year Term policy with a waiver of premium clause. |
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Lucky
|
The general idea is to have 10 times your Annual Salary so your beneficiaries will be able to replace your income by investing in a relatively secure bond or money market and withdraw your annual salary each year (well divided by 12 and done monthly) this in essence will provide for them for the next 20 years (hopefully) |
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insuranceguytx
|
Life insurance is not like baseball caps. One size does not fit all.
Most people take out what is offered through their employer or may take out an additional $100,000 to $250,000. Some go by the 10x salary formula. Truth is everyone is different by their age, health, income savings, debts and insurance needs.
Unless you post your personal information, no one on this message board can give you an accurate answer.
Talk to a licensed insurance professional. Unless that pro asks about your income savings, debts and insurance needs, he/she is not doing a good job for you and your dependents may find that they are really hurting if your time is up. |
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Doing the Right Thing
|
If the policy contains cash value, most people only can afford $100,000 coverage.
If this was term, most people can afford only $350,000 in coverage.
So.. the average is: $225,000. |
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mbrcatz
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Oh, probably around $100-$250,000, however, most people let the policy cancel within the first 5 years. |
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