Do you have life insurance?

[Tenbatsuzen]

Simple enough question. I've been considering getting a policy to cover Gwen's college needs in a worst case scenario.

[Kublakhan61]

No, but this came up the other day in my house. I hate the idea of car insurance because you're involuntarily (in NY at least) giving money to someone for a 'what if' ... Life Insurance is the same thing only it's voluntary.

So, I'm against the idea of voluntarily send someone my money 'in case' - my wife, generally the wiser, is for. What will we do?

[SatCam]

company paid equal to my salary.......................................basic ally enuff to cover my funeral and a few scratch offs

[A.J.]

No. My family will get nothing...and like it.

[smiler grogan]

Yes. Once kid #1 showed up we got our wills in order and got a life insurance policy. It's a decent policy that will cover both of the kids in case. My wife is policia and has additional coverage through the job.

[Death Metal Moe]

I think my grandmother said something about me having 1 or 2 that she pays that she told me I need to keep up when she passes, I'm not sure. We haven't talked about it in a long time.

I do know that I have a very small one through my car insurance company. It was about $5 less a month with it than without it when I signed up. I didn't see any weird stipulations or scams that would cost me money so I agreed to it.

[Fallon]

I do. I'd like my funeral costs to be taken care of, so my fam won't have to deal with it.

[TripleSkeet]

Once I had my first kid we got policies for me and my wife. I pay $200 a year for her and $500 a year for me. Thats how I learned that seat belt tickets, while not effecting your car insurance, has a direct effect on your life insurance.

If I roll a 7, my wife should at least be able to pay off the mortgage so theyll have a roof over their head. And vice versa. Things keep up the way they are now and I might have to start getting me a food taster.

[JPMNICK]

if you have a mortgage get a policy to cover the remaining balance so you dont leave your family homeless

[StanUpshaw]

You can choose anyone to be your beneficiary, can't you? So if I wanted to woo some terminal cancer patient, I could end up being named beneficiary without getting married and shit?

[Tenbatsuzen]

I do. I'd like my funeral costs to be taken care of, so my fam won't have to deal with it.

I don't understand this. Funeral costs are like, what, at maximum, 1-3 thousand dollars?

[PapaBear]

I don't understand this. Funeral costs are like, what, at maximum, 1-3 thousand dollars?
Unless you're going for the most basic cremation, I think it's more like 4-5K.

[razorboy]

I don't understand this. Funeral costs are like, what, at maximum, 1-3 thousand dollars?

Maybe a potter's field funeral. Average cost of a traditional burial funeral is around nine grand. All the more reason to opt for cremation.

[StanUpshaw]

I think life insurance would only encourage my family to overspend for some horribly wasteful funeral. Those fucking funeral home sharks are the worst scum.

[Tenbatsuzen]

Unless you're going for the most basic cremation, I think it's more like 4-5K.

Maybe a potter's field funeral. Average cost of a traditional burial funeral is around nine grand. All the more reason to opt for cremation.

mmm. I've already request a cremation - save the money, go to Hawaii, spread the ashes there.

[Snacks]

I don't understand this. Funeral costs are like, what, at maximum, 1-3 thousand dollars?

did you ever have to arrange someones funeral or help someone else? My fathers funeral cost me and my brother a total of $11,000. Thats for funeral home and all their fees and casket. That didnt even include the plot/mausoleum my father purchased years before he died. Then we had to pay for the after funeral food/reception that is just a waste but its still cost money!

[TripleSkeet]

if you have a mortgage get a policy to cover the remaining balance so you dont leave your family homeless

Why would I do that when our life insurance policy would be enough for either of us to pay off the house, pay for the funeral, and have at least 10k leftover for savings?

[Tenbatsuzen]

did you ever have to arrange someones funeral or help someone else? My fathers funeral cost me and my brother a total of $11,000. Thats for funeral home and all their fees and casket. That didnt even include the plot/mausoleum my father purchased years before he died. Then we had to pay for the after funeral food/reception that is just a waste but its still cost money!

Yes, I have. Which is why I have very set rules for a cremation. Donate my organs, cheap ass pine box, take a vacation, spread the ashes.

The biggest expenses of a funeral are the casket, embalming, and all those services.

[Kublakhan61]

While we're talking burials and costs - I intend to have a green burial. $600 for a biodegradable pine box, $1000 for a plot in a NJ green burial cemetery. I'm going back to the Earth and I'm not crippling anyone with costs on the way out.

[Snacks]

While we're talking burials and costs - I intend to have a green burial. $600 for a biodegradable pine box, $1000 for a plot in a NJ green burial cemetery. I'm going back to the Earth and I'm not crippling anyone with costs on the way out.

wow that sounds very interesting. where in NJ is this green plot? I have never heard of this.

[Kublakhan61]

wow that sounds very interesting. where in NJ is this green plot? I have never heard of this.

This is the cemetery http://steelmantowncemetery.com/

This is a resource page on Green Burial http://naturalburial.coop/

Save money and save the Earth.

[STC-Dub]

My wife has a policy on me, I guess to keep me in line? :glurps:

[PapaBear]

My wife has a policy on me, I guess to keep me in line? :glurps:
It's the policies that she doesn't tell you about, that you have to worry about.

[keithy_19]

I do. It is a real cheap one that my parents took out on me. The policy was for I think ten grand for someone my age, but they don't factor in pre-existing condions, which will a bitch for me when I get one later on in life. As I age the money grows as well.

It is weird, though, seeing your worth on a sheet of paper when you're 17. It's kind of how I imagine the draft card used to be.

[JPMNICK]

Why would I do that when our life insurance policy would be enough for either of us to pay off the house, pay for the funeral, and have at least 10k leftover for savings?

i was saying at a minimum. the more you can afford the better, but worse case you want to be able to cover your biggest expense which is the mortage

[Jujubees2]

Right after my first son was born my father-in-law died in a car accident. He and his wife had just retired and were getting ready to move to a retirement home they had built in Alabama. But since he didn't have any life insurance she could no longer afford to move there so she had to sell the house.

When things settled down the first thing we did was get life insurance policies.

[Misteriosa]

i have life insurance but its not much. it covers the basics in terms of funeral costs etc. its provided through my job, and its not term life but the other kind (full or whole i think)