 Legal rights for life insurance? |
| My late husband beleived that I was the beneficiary of his life insurance. I REMEMBER early in our marriage that we both changed our beneficiaries to each other. He told others that I was the ... |
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 Why would they want my car insurance information if i was the pedestrian injured in an accident? |
I was crossing the street and was hit by a car. Why do they want my car insurance information?
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Why would they want it? and what if my insurance expired?... |
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 Is it legal for a doctor to refuse doing a procedure because insurance doesnt pay them enough to do it? |
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let me add some..I am on medicaid, i want to have a procedure called essure done...medicaid covers it and there are a list of docors who perform the procedure that ... |
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 Cancel Health Insurance? |
| My boyfriend works for DynCorp and is not happy with his insurance. They're charging him $375 per payday (he gets paid bi weekly), and it's just for him and his daughter. They told him ... |
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| Mortgage Payment Protection...is it worth it? |
| We currently have mortgage payment protection & are going to try & find a cheaper policy for it as our one seems quite expensive. But is mortgage payment protection worth it? I've read ... |
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 Fiance's mom pushing life insurance? |
My fiance was recently diagnosed with Hyperemeis ( http://hyperemesis.org ), a disease which affects 1% of pregnant women. Due to this she's been in the hospital 3 times in the last month.
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 Ok big decision here so I need some expert advice. Question about Life Insurance? |
| I'm buying Life Insurance. I have a 8 month old and I'm 28, non smoker and in perfect health. I got a quote that is for 30 years and for a 1,000,000 premium I would pay 70.84 a month. T... |
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 Car insurance WITHOUT a bank account? |
does anyone know where/what car insurance i can get as i can not have a bank acount or debit/credit card.
can only pay with cash by monthly ... |
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 I own a office condo , i was told that i didnt need property insurance,? |
| because the condominium association does that since condo owners only own whats inside not the structure itself, but i have the bank calling me about property insurance., What kind of insurance ... |
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 Where is a safe place to keep important papers like life insurance policies, your will etc.? |
| I read that you shouldn't keep these in a safe deposit box but the article didn't say why.... |
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 Does term life insurance take into account the combined income of a married couple? |
| I have seen around the internet that the maximum term life insurance policy allowed for a person in their 20s is usually 20 times their income. However, I was wondering if there are any policies that ... |
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 Ive had auto insurance in my own name for 2 years and ive payed it every month in full and on time? |
| now if i were to try and get a loan for a new car would that help as far as credit or anything? like if they ran my social securiy number and name would they see that i have good bill payment history?... |
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 Is and insurance companey responsible for providing a rental while repairs are being made? |
| i had a furniture truck back into my car and need to bring it to be fixed , yet the insurance companey of the people who backed into me will not pay for a ... |
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 Is a persons spouse entitled to a life insurance policy no matter who is named as the beneficiary? |
| my husband has a life insurance policy but his mother is the beneficiary.........am i entitled to any of that?... |
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 Am I still covered by my employer? |
| I recently left my job and I was wondering if the insurance company has to contact me to inform me that my coverage is no longer valid or should I assume that it no longer exists. I can still sign ... |
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Cherry | What kind of life insurance should my husband get? |
We are looking to get a life insurance policy for my 25 year old husband. We have three young children so we're trying to figure out what would best provide for the family if God forbid something were to happen to him. |
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makg
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Term life insurance is usually the best answer for a situation like this. Be sure you take out a policy that will last until your children are grown. Some agents might try to convince you to buy permanent insurance (universal life, for example), but there usually isn't really a need for that. But, look at the difference in price between term life insurance and permanent insurance, and try to put away some of that extra money into savings over this time. Depending on your own employment situation, you may still need a little finanical "boost" should your husband pass away after your kids are grown (and the insurance term is up). But that is a situation you can start to cover now. If you save over the next 25 years, you will not need the coverage of permanent insurance because you will have built up your own savings nicely.
As others have said, do be sure that if you are home with the kids, you are insured as well, if the additional cost of childcare would impact your husband's financial state. Depending on the ages of your children, where you live, and the availability of family to help out, you could be looking at $3000 in monthly day care costs. It may be worth taking out a policy on you as well if those expenses would impact your family in a bad way should something happen to you.
If you would like to get an estimate of how much insurance you should buy, you can check out www.vilkri.com/life_insurance_intro.php (currently free if you request beta testing access). This site isn't affiliated with an insurance company, so it will not try to sell you a thing. |
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Spock (rhp)
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guaranteed renewable term is the cheapest. There are lots of companies, so shop hard on price. |
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themtmfinancialgroup
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You should consider TERM INSURANCE or a REVERSIONARY ANNUITY.
1) Term Insurance will provide a lump sum available at the time of death.
2) A reversionary annuity will provide you with a life income at the time of death. (most people, financial advisors included do not know these are available)
Both are available as annual and monthly premium payments and you may be surprised how affordable adequate coverage can be. If you need a quote feel free to give us a call 877.316.3959. We can run quotes in every state and compare around 90 insurance companies, we do not charge any fees, and won't bug you, just provide emailed quotes...educate yourself, don't be sold! |
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Chris C
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Likely in this situation term life insurance would be your best option. It sounds like the needs you are concerned with are all temporary needs (taking care of the kids, etc...eventually they will be old enough to take care of themselves).
You should contact an insurance broker. They will have access to the best companies on the market in your area and find the best that suits you directly.
Also, as mentioned before what about insurance on you? Even if you aren't working (I'm just assuming since that's the ussual reason people don't think they also need it) or a stay at home mom your life still has a financial value. If you pass away, your husband will have the increased costs of child care, what about having to make his own meals? will he have time for that or will he have to dine out more? Add that and more (a few grand for funeral costs, taxes, lawyers fees, etc) on top of the regular payments.
Finally, given his/your ages, you should make sure you have a proper disability, critical illness and Long term care insruance plan in place. Odds of being seriously ill or injured at your age is FAR more likely than dying at your age and if your husband become disabled or something and can't work for 6 months or a year it can just as financially devistating. A good broker can help you with that as well. |
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hadley2120
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Considering your family situation, you may want to consider 30 year level term life insurance for your husband.
Level term life insurance provides rates and coverage amounts that remain the same for up to 30 years. This way, you may have the maximum protection at the lowest price for a 30 year term.
Make sure you use a life insurance needs calculator to find out how much life insurance you need for your husband. Also, you may want to consider term life insurance for yourself, because how would your family get by without your contribution?
Also, consider how long you need coverage, and how much you can afford.
Make sure to consider the financial stability rating of the companies you compare. The AM Best ratings are usually shown with the quotes provided online by a life insurance quote service.
If you choose 30 year term life insurance, that would provide protection until your children are grown up and on their own.
Make sure you compare rates from several insurance companies and get all of your questions answered before making a decision to buy a policy. Review all policy exclusions.
Compare rates for monthly and annual premium payment options, you may save some money by paying your premium once per year, if possible.
I will provide a resource below that offers access to information to help you learn more about term life insurance.
Best of luck to you.
(community guidelines state:"it's OK to accompany a good, on-topic answer with a link to your website, blog, or email to offer more information.") |
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Michael M
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Without knowing your specific financial situation or goals, the general rule is term life insurance for 7-10 times your income. Since you have young children you will want at least a 20 year term product to make sure your family is protected until they are adults.
Also don't forget that you will probably want to get a policy for yourself as well. Even if you don't work, your husband will probably need to pay for daycare and housekeeping if something were to happen to you. My wife stays home and we have the same term policy on her as we do on me, but for 1/3 the amount. |
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Insurance Pickle.com
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There are many different kinds of life insurance policies and even more companies than you'd think that offer them. The one thing to keep in mind is don't buy life insurance from a car insurance company. The popular kinds of life insurance are term life insurance, return of premium term (which can effectively yield you a 5-7% tax free return on your money), and policies to last until you're 100 years old.
I'm providing you a link to my site that will give you information about life insurance (since there is more than will fit in this forumn). Within the FAQs you can check out my blog which has plenty of useful information about types of policies and applying for coverage. Also, you'll see a link for term life insurance quotes. This will allow you to get prices for life insurance policies from ~150 different companies so you can get insurance prices prior to contacting a broker. That way you can be sure you're getting a good deal. The information and quotes is provided for your information and is available without divulging personal information.
Ultimately it'll depend on your situation, but a young family should probably be considering at least a 30 year term insurance policy because that would provide pure coverage for a long period of time at a low cost. But, if your household income is more than $150k (from the hip number) you should be considering doing some of that coverage as a permanent plan.
http://insurancepickle.com/life-insurance/life-faqs.shtml
Hope that helps.
(community guidelines state:"it's OK to accompany a good, on-topic answer with a link to your website, blog, or email to offer more information.") |
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bud68
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20 or 30 year level term life insurance will provide the best "bang for your buck." There is a section on life insurance in Yahoo Finance (click on "Personal Finance"). |
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ialex2005i
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Do you have life insurance also? What if something happens to you? Most auto insurance companies also have life insurance, so ask your auto insurance company. |
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