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Term life insurance question

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    Chris,   How old is your husband?  How is his
    health?  It seems that if something happened to him before 2011 you would have
    the life insurance.  I think I would keep it.  Especially since he can’t
    get another policy later.  Would $66 a month make a huge difference in your
    life now?  Once out of debt would you be able to save for retirement?  How long do you estimate it will take you
    to get out of debt without it?   I think you really have to weigh the options
    and pray about this if you pray.



    Okay…wierd…Here is the post I posted Sat Sep 30, 2006 6:53 am and it didn’t go through until 9:20pm last night so I wrote another post that posted before it.
    Anyhow that is why two posts that are sorta the same but different posts about Chris’s life insurance question.



    Chris, I totally agree with Bonnie.  DON’T let your insurance lapse!  It does sound quite high and I would like to know the questions that have been asked, the age of your husband and health.  Hang out while you search for insurance.  There are many websites that allow you to check out insurance cost.
      My family is currently dealing with a severe medical issue and trying to decide what to (where there is no insurance).  My dad called me and said that this has been such a big wake up call that the family has decided that we ALL will check around and make sure that we ALL have some type of insurance.  Even if it’s just basic burial.  ALSO that we will make living will’s and fill out our will’s.  Regardless of how much you make, if you think you don’t have assets.  YOU NEED these things.  It’s actually a gift to your family.  Now the family (his daughter and next my
    aunt) has to decide when and how to support this persons life with machines, when to take him off the machines.  It’s a hard thing for someone to decide.  Of course, the hospital folks state the obvious: Does he have a living will?  A living will would of solved all of this and take the pressure off of those who have to deal with this.  Since my Uncle had no insurance now we have to figure out how to bury him and my aunt can’t make the decision to take him off support until that is decided.  Because if you ‘unplug’ him and he dies within a few hours THEN you have to figure out how to pay to bury him.  Everyone has an idea about how this should be done and burials are expensive.  So now you have bickering and hard feelings towards each other, while dealing with the grief and the shock of this entire thing.  So it’s a gift.
    Get some basic term insurance.  If you are single – you only need enough to bury you. 
    If you have a family that depends on your income you need to replace that income by at least 8 times.  Quite a few folks have gotten a ‘blessing’ from someone who has passed on but thought enough to have insurance, have a will and a living will and allowing those who are left behind to truly grieve instead of trying to figure out how to bury you and what to do.    So EVERYONE should make sure this is taken care of.  Don’t think because you have little or no assets that it doesn’t matter, or if you are single.    I totally agree with Bonnie’s advice.
    Keep the insurance while looking around to see if you can lower the bill.



    My husband is 49 years old and smokes heavily.
    His term insurance policy, the least expensive we’ve found, is $122 a month for a $200,000 20 year policy.
    He is covered for 18 more years.
    I am 40 and not working, and we have two children, income is about $48,000 per years.
    This is the most insurance we can afford, and I think it’s adequate, especially after the debt is paid off.
    Just adding for info, in case anyone else is in a similar situation and thinking about life insurance.

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