Do you have life insurance? - VeggieBoards
View Poll Results: Do you have life insurance?
Yes-My parents have a policy on me. 0 0%
Yes-I have a policy through my employer. 0 0%
Yes-I have a policy that I pay premiums on that's not through my employer. 0 0%
Yes-I have both insurance through my employer and a separate policy I pay premiums on. 0 0%
No-I don't plan on buying the farm anytime soon. I'll worry about that when I'm older. 0 0%
Voters: 0. You may not vote on this poll

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#1 Old 09-20-2004, 07:40 AM
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Curious..
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#2 Old 09-20-2004, 07:50 AM
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No, I don't have life insurance, even though I know I should.
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#3 Old 09-20-2004, 07:51 AM
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I do. Until had kids I really didn't have any reason to. My husband is the "money guy" and I am a SAHM but when it comes down to it, the stuff I do would cost him a lot of money to have done if I were not here.



A few years ago I was having a really bad time. I was not suicidal, exactly, but I was thinking along the lines of "If my car went over a bridge it would be no big loss" but I was not at the point of intentionally driving over the edge. I didn't even know until then how much life insurance I had. I knew when we bought it but had forgotten. So, I found out and it was enough that it helped me realize that I did have some value to my family and it made me think about value other than monetary, as well. It took more than that for me to start realizing my value to MYSELF but the life insurance helped get me started.



It might sound silly to some people but that's my story and I'm stickin' to it.



Sunny
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#4 Old 09-20-2004, 07:58 AM
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I do through my employer. I have no kids (or desire to have any), so it's for debts and funeral expenses. I've been meaning to look into a policy for my husband, too. (OT - I really need to do a will to make sure I'm cremated and not embalmed. ~shudder~)
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#5 Old 09-20-2004, 08:15 AM
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yes, thru my husband... as he IS the employer for his company?
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#6 Old 09-20-2004, 08:17 AM
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Christy13 ~ I'm in pretty much the same situation as you. No hubby though!
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#7 Old 09-20-2004, 08:21 AM
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None of the above



The prince has had one for me since I was pregnant with our first child. He would not hire someone to come in and do what I do. He is also cheep with himself. I have told him we should have more on me then just enough to scatter my ashes from our favorite bluff, he should be free to take a trip or a vacation while he makes the transition from mourning to new life but he will not even consider it.
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#8 Old 09-20-2004, 08:56 AM
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yeap..my dad paid up my policy before he passed on, then i got in another one....so i have to watch my back so people dont knock me off for the cash.
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#9 Old 09-20-2004, 09:45 AM
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Smart Dad.
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#10 Old 09-20-2004, 09:53 AM
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I have standard coverage through my employer, just enough for final debts and funeral expenses, as I have no children and I'm not married.



When my job ends, though...I will be without insurance. That's rather...troublesome.

We see the world as "we" are, not as "it" is; because it is the "I" behind the "eye" that does the seeing.
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#11 Old 09-20-2004, 10:22 AM
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My parents have just enough to cover a funeral. I should probably get some more.
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#12 Old 09-20-2004, 10:51 AM
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Here's a thought. 10 years ago, in my part of the US, the average funeral (for someone being embalmed that is) was about $3500. Today it's almost $7000. I don't have enough insurance. I need to get a separate policy on the side. I have insurance with my employer but that ends with employment. I've been thinking about insurance because the older I get the higher my premiums will be. Plus, no one plans to die young but they do. Who knows if I'm next? That's kind of why I wanted to see if any one else had thought about this yet.
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#13 Old 09-20-2004, 11:35 AM
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i don't, but my partner has a policy that would be split 50/50 between me and her mother if she was to pass on. She's the main provider in our house hold and if (goddess forbid) something were to happen to her, I'd ben stucked 4000 miles from my family with a part time minimum wage job to pay our final bills and to get home and reestablish a life, so it's pretty nessecary.
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#14 Old 09-20-2004, 11:54 AM
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I can't afford the fees. If I die, just dump me into a river in the middle of the night.
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#15 Old 09-20-2004, 12:11 PM
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Quote:
Originally Posted by christy13 View Post

I do through my employer. I have no kids (or desire to have any), so it's for debts and funeral expenses.



Exactly, me too. *Wonder if I can leave it to my cats....
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#16 Old 09-20-2004, 12:14 PM
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Actually, you can leave it to your cats in an Estate Trust. Of course, you'll have to designate someone the Trustee and specify what's to be done with the money (i.e. care and upkeep of the cats).
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#17 Old 09-20-2004, 12:18 PM
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How about an option of "No, because there's no way I can afford it."
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#18 Old 09-20-2004, 12:20 PM
 
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I have a burial policy that's already paid for, but no life insurance. My partner & I discussed it, and we decided to insure her, rather than me. If I died, she would still be able to pay our mortgage & bills without me, but if she died, I would NOT be able to make ends meet. We tried to estimate my expenses for a year, figuring that would give me time to find a cheaper place to live, or another partner (just kidding, sweetie!)
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#19 Old 09-20-2004, 12:22 PM
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Quote:
Originally Posted by kristadb View Post

I can't afford the fees. If I die, just dump me into a river in the middle of the night.



Heh I always tell my folks if I kill over, to creamate me, bury the ashes in the backyard, tell everyone I left town, and keep the insurance money.
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#20 Old 09-20-2004, 12:34 PM
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Quote:
Originally Posted by borealis View Post

How about an option of "No, because there's no way I can afford it."



Yeah, ditto. I went ahead and cheated, picking the only "no" option available.
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#21 Old 09-20-2004, 12:47 PM
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I've got $100k of term on my group health insurance, and $100k on a separate whole life policy. I don't think it's enough, as it would just pay off my mortgage and probably cover my son's tuition with nothing else left over. I'm not buying any more, though. I don't want my death to seem too attractive to anyone . . .
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#22 Old 09-20-2004, 02:44 PM
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I can barely afford to live, much less die. *crosses fingers*
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#23 Old 09-20-2004, 03:14 PM
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hm. i didn't vote cause i'm not sure. well, my boyfriend gets really good benefits at work, so no doubt he has it through them but i can't say for sure, i'll have to find out. other than that i have a free plan from my bank but it's only $2000 coverage. (better than nothing mind you)



my mom started bugging me to get it cause her neighbour's son died very suddenly at a young age and they had a real tough time paying for the funeral and stuff, and she realized if i suddenly croaked she wouldn't be able to handle the costs. course i can't afford it but right after she mentioned it to me the bank offered me the free plan, so that'll do for now

I'm singin' here to get rid of fear
Hope it disappears right here with the rain
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Meaningless to pray, so just goin' on my way
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#24 Old 09-20-2004, 03:23 PM
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I also picked No. Financial reasons. I should require my family watch the Penn & Teller Bull**** series on Funerals & Death as part of my will.
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#25 Old 09-20-2004, 03:25 PM
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Yes, both.

My employer picks up the cost for 2X my salary through work, and I pay for another $500K on my own. Same for Mrs. Tame.



And please, anyone who buys insurance on their own, don't - I repeat- don't buy whole life. Buy term insurance, and invest the difference between the premiums. If you live out the term of the policy, you will be money ahead. If not, the pay out is the same.
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#26 Old 09-20-2004, 03:28 PM
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When I was married, my husband had an insurance policy that was enough for funeral expenses and to pay off the mortgage on the house.

Now that's I'm single again and have no children, I rely on my work policy which gives my beneficiary $5000.00. Since I don't own a house anymore (well, almost.. the sale closes September 30th), $5000.00 is more than enough for cremation. My furkids will go to my sister who will happily take them without support money and I'll do the same for her.
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#27 Old 09-20-2004, 04:00 PM
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I don't have life insurance. Is there any reason to have it if one doesn't have any dependants?



Quote:
Originally Posted by christy13 View Post

(OT - I really need to do a will to make sure I'm cremated and not embalmed. ~shudder~)

Tell me about it!



I've told my mom that if I die I want to be cremated, put in a cardboard box, spread around in some forest, and then I want the box recycled. I think she thinks I'm joking though.
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#28 Old 09-20-2004, 04:03 PM
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Quote:
Originally Posted by Tame View Post

My employer picks up the cost for 2X my salary through work, and I pay for another $500K on my own.

What does this mean? Does that mean you pay a literal $500,000?
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#29 Old 09-20-2004, 04:11 PM
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Quote:
Originally Posted by mikie View Post

What does this mean? Does that mean you pay a literal $500,000?





No, I pay a premium (around $600/year) for another $500,000 in insurance for myself.
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#30 Old 09-20-2004, 04:14 PM
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Thanks Tame. Sorry if I sound ignorant, I'm just not sure how these companies work.
Quote:
Originally Posted by Tame View Post

No, I pay a premium (around $600/year) for another $500,000 in insurance for myself.

Does this mean that if you were to die your family would get $500,000? How does a life insurance company make money if they pay out so much more money than they receive?
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