I’ve had life insurance for 15 years or so, through my husband’s employer. Unfortunately, he was laid off a couple months ago, but our medical & dental is good for a few more months. Not sure if the life policies are included in the severance package or not.
@Pony Some companies offer the option to convert the life insurance into an individual policy for which you would pay the premium, but more often than not, the life insurance doesn’t stay when no longer with that employer.
Life insurance is fine, if you have dependents, or if you believe that there might not be enough money to provide for your funeral/memorial service/wake. While my daughter was underage, and dependent on me, I carried about a million, and upped it when she became a teenager. Once she left home, and became an adult, I dropped it like a stone.
I still have a small life insurance policy, but it’s not my money paying for it (the place I retired from carries it). If it were up to me, I’d be happy to just cash it out, and that would be that, but I don’t get that choice.
I have medical, and car, and house insurance. That seems like enough.
@olperfesser In my 20’s I told an investment advisor that I wouldn’t be buying his overpriced insurance/investment, I’d buy term insurance and invest the difference. He argued that the insurance price would go up and become too expensive and I told him I would be “self insured” at that point. I don’t remember his name but today I am a bit over 60 and have enough investments that I don’t need to work which makes life insurance irrelevant, so I am self insured as I predicted I would be.
@Ziggie Honestly… make it easier on your kids… take care of your arrangements now. It’s hell having to make those decisions under duress while grieving.
My work had a small life insurance policy, just about enough to cover a funeral, and it may still be in force now that I’m retired as I stayed on the group health, dental and vision plans. Or maybe not. My dogs are my only dependents, my house is almost paid off and it and my other assets will be liquidated to provide a trust for their care and the rest will be given to charity (save for my art, which will be distributed among friends and family). The dogs already have a caregiver and a backup caregiver in place in the event of my death, who volunteered without knowing my plans to provide for them financially. They are well loved in my social group and backed up by their respective rescues and would not go wanting for homes in any case.
When I shuffle off this mortal coil, my wife will receive a nice sum of money more than adequate to handle the expenses involved, and some extra for her to use as she needs to make up for the about 20 tons of stuff (meaning physical stuff, old car, parts, tools, books, electronics, etc) she will have to deal with alone. Seems fair to help out with that at least indirectly financially. I decided not to reduce the amount after we paid off our home in the last few months; the monthly premiums just are not that bad yet.
@duodec Very nice. That sounds much like what my hubby did. He kept up the pymts and left me a significant amount (and a huge bunch of stuff to shovel out of our home and shop) which has made a huge impact on my life. I really don’t know what I would have done otherwise. Not a lot of people want to hire a 60 yr old office manager or such (non professional type) and I had to quit the job I used to have because my back could no longer take it. Bless his soul, he made sure I was taken care of.
We took out policies so that when I or my wife dies the other won’t have mortgage payments. Now that we’ve paid the principal down a chunk, there will be plenty left over for cremation and a helluva party.
I wonder if this poll should have included per flight life insurance that you (used to be able to??) buy at the airport.
I used to like the idea of my wife getting a million bucks if the plane went down… but I looked a couple of times after 9/11 and the policies specifically reduced payout if death was due to an act of terrorism; a clause that I don’t think was common before that event. War clause, yes, but not terrorism/hijacking.
I took the optional maximum amount allowed when I started my current job since they would insure you without question, or physical, if you took it then. Add in the insurance that automatically comes with my job and I am worth way more dead. If my children knew about it they might just stage an accident for me
@mfladd They have access and motive. Meh provides the weapons and other assistance. This may be the beginning of a conspiracy. Are your children colluding with Meh?
“I plan to live forever, of course, but barring that I’d settle for a couple thousand years. Even five hundred would be pretty nice.”
I’ve had life insurance for 15 years or so, through my husband’s employer. Unfortunately, he was laid off a couple months ago, but our medical & dental is good for a few more months. Not sure if the life policies are included in the severance package or not.
@Pony Some companies offer the option to convert the life insurance into an individual policy for which you would pay the premium, but more often than not, the life insurance doesn’t stay when no longer with that employer.
When you are poor (and shop at Meh), there is really no life (or property) to insure.
I am worth so much more dead than alive…
Don’t tell my wife I said that.
@shahnm And here I thought your battery collection was worth more. My bad.
@Kidsandliz What my batteries lack in net value, they more than make up for in chilly freshness!
Life insurance is fine, if you have dependents, or if you believe that there might not be enough money to provide for your funeral/memorial service/wake. While my daughter was underage, and dependent on me, I carried about a million, and upped it when she became a teenager. Once she left home, and became an adult, I dropped it like a stone.
I still have a small life insurance policy, but it’s not my money paying for it (the place I retired from carries it). If it were up to me, I’d be happy to just cash it out, and that would be that, but I don’t get that choice.
I have medical, and car, and house insurance. That seems like enough.
I have insurance, but I think it’s a waste of money.
/giphy Highlander
@2many2no I doubt your widow would agree.
@2many2no @okeanos Who cares he’ll be dead so there won’t really be any argument about it
@Al_Coholic @okeanos
@2many2no @okeanos As one who became a widow 5 months ago… absolutely!
@2many2no @lseeber I am so sorry for your loss. God bless you.
@2many2no @okeanos Thank you
Too young / no dependents, but work gave me some anyways.
I don’t need life insurance, I have investments.
@olperfesser In my 20’s I told an investment advisor that I wouldn’t be buying his overpriced insurance/investment, I’d buy term insurance and invest the difference. He argued that the insurance price would go up and become too expensive and I told him I would be “self insured” at that point. I don’t remember his name but today I am a bit over 60 and have enough investments that I don’t need to work which makes life insurance irrelevant, so I am self insured as I predicted I would be.
I have kids, ergo life insurance. After they move out, I’ll carry enough to put me in the incinerator.
@Ziggie Honestly… make it easier on your kids… take care of your arrangements now. It’s hell having to make those decisions under duress while grieving.
My work had a small life insurance policy, just about enough to cover a funeral, and it may still be in force now that I’m retired as I stayed on the group health, dental and vision plans. Or maybe not. My dogs are my only dependents, my house is almost paid off and it and my other assets will be liquidated to provide a trust for their care and the rest will be given to charity (save for my art, which will be distributed among friends and family). The dogs already have a caregiver and a backup caregiver in place in the event of my death, who volunteered without knowing my plans to provide for them financially. They are well loved in my social group and backed up by their respective rescues and would not go wanting for homes in any case.
When I shuffle off this mortal coil, my wife will receive a nice sum of money more than adequate to handle the expenses involved, and some extra for her to use as she needs to make up for the about 20 tons of stuff (meaning physical stuff, old car, parts, tools, books, electronics, etc) she will have to deal with alone. Seems fair to help out with that at least indirectly financially. I decided not to reduce the amount after we paid off our home in the last few months; the monthly premiums just are not that bad yet.
@duodec Very nice. That sounds much like what my hubby did. He kept up the pymts and left me a significant amount (and a huge bunch of stuff to shovel out of our home and shop) which has made a huge impact on my life. I really don’t know what I would have done otherwise. Not a lot of people want to hire a 60 yr old office manager or such (non professional type) and I had to quit the job I used to have because my back could no longer take it. Bless his soul, he made sure I was taken care of.
We took out policies so that when I or my wife dies the other won’t have mortgage payments. Now that we’ve paid the principal down a chunk, there will be plenty left over for cremation and a helluva party.
I’m 19, so maybe when I’m older and married.
I wonder if this poll should have included per flight life insurance that you (used to be able to??) buy at the airport.
I used to like the idea of my wife getting a million bucks if the plane went down… but I looked a couple of times after 9/11 and the policies specifically reduced payout if death was due to an act of terrorism; a clause that I don’t think was common before that event. War clause, yes, but not terrorism/hijacking.
My job provides $100,000 (plus another $50,000 under the right circumstances). I don’t bother buying more since I don’t have kids.
I took the optional maximum amount allowed when I started my current job since they would insure you without question, or physical, if you took it then. Add in the insurance that automatically comes with my job and I am worth way more dead. If my children knew about it they might just stage an accident for me
@mfladd They have access and motive. Meh provides the weapons and other assistance. This may be the beginning of a conspiracy. Are your children colluding with Meh?