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Thread: Life Insurance

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    #1

    Life Insurance

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    I have a life insurance on the brain. DH has the $400,000 through the Army, and currently I have a whole life policy I have had since childhood that is paid-in-full, but it is only enough to bury me really. Normally I go through work or an association I belong too, but currently I have neither. I am thinking about $500,000 30-year-term. I have a quotes ranging from $25 to $40 per month. Anyone know what to look for in an insurance company? I am kinda feeling my way through it but am not very sure about it.
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    USAA and Navy mutual.
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    First question is whether you actually need any more. Do you work? Do you have children? Do you own a home with a mortgage? Does anyone rely on your income or labor? (such as a caretaker, etc)
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  4. MilitarySOS Jewel
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    No, we don't really have any dependence on my income right now. I am thinking that getting a rate before I turn thirty with the assumption of income of $50,000+ when I start working full-time next spring/summer. If we have kids in the next 5 years then we might tack on another policy at that point if needed. While if I kick the bucket before 60 DH would still be working and would adjust to a new direction I would rather he didn't have to stress about finances while doing it. I hadn't thought about navy federal, I will check them out. Thanks!
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    Quote Originally Posted by Liz711 View Post
    No, we don't really have any dependence on my income right now. I am thinking that getting a rate before I turn thirty with the assumption of income of $50,000+ when I start working full-time next spring/summer. If we have kids in the next 5 years then we might tack on another policy at that point if needed. While if I kick the bucket before 60 DH would still be working and would adjust to a new direction I would rather he didn't have to stress about finances while doing it. I hadn't thought about navy federal, I will check them out. Thanks!
    Sounds like there is no burning need for you to have a policy right now. That being said, it's pretty awesome you're thinking about it. It doesn't hurt to move forward with it. The easiest thing at this point is to make sure your DH has your dependents LI (FGLI or something like it) activated. I don't know if it's automatic or discretionary, but it's there. If you want more, talk to an insurance broker.



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    Ah hah, it's FSGLI and it's 100,000 max. Family SGLI Coverage (Life Insurance)



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    #7
    Yeah DH and I both have life insurance through USAA. Right now we have $100,000 policies but we might change that, I'm not really sure. It's something we need to talk about!
  8. MilitarySOS Jewel
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    Quote Originally Posted by Judi89 View Post
    Ah hah, it's FSGLI and it's 100,000 max. Family SGLI Coverage (Life Insurance)
    Oh crud monkey I totally forgot about that . Time to restart my approach. Thank you!

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