- Thread starter
- #21
Judge Judy Today
- Thread starter Mark
- Start date
Too often life insurance is thought of as something to take care of final expenses and maybe pay some bills. Of course many people run up medical bills in the last few days or weeks that are not covered by insurance, if they had insurance.
Almost no one takes that into account.
Sometimes income replacement is also factored in, but almost never in the case of a non-working spouse or children. I don't do a lot of life business, but when the subject comes up with regard to the SAHM or kids I always make this suggestion.
In addition to the funds you will need to take care of final expenses, I suggest a little extra so you don't feel like you have to immediately go back to work the next day to pay the bills. Give yourself a little cushion so you have time to grieve in dignity. I can think of nothing worse than burying your child and feeling the pressure of returning to work the next day.
Almost no one takes that into account.
Sometimes income replacement is also factored in, but almost never in the case of a non-working spouse or children. I don't do a lot of life business, but when the subject comes up with regard to the SAHM or kids I always make this suggestion.
In addition to the funds you will need to take care of final expenses, I suggest a little extra so you don't feel like you have to immediately go back to work the next day to pay the bills. Give yourself a little cushion so you have time to grieve in dignity. I can think of nothing worse than burying your child and feeling the pressure of returning to work the next day.
- 1,802
I personally have 500K in whole life; that is already paid up, and 500K 30 yr term on my wife.
She is a stay at home mother for our two young children and is not replaceable.............LOL, She is looking over my shoulder........LOL
I make it a point to always suggest putting at least the annual salary/income of the bread winner on a non-income producing spouse to allow time to grieve, and to get one's affairs in order.
Tom, I too thank you for sharing the story about your wife with us, and offer my sympathy.
She is a stay at home mother for our two young children and is not replaceable.............LOL, She is looking over my shoulder........LOL
I make it a point to always suggest putting at least the annual salary/income of the bread winner on a non-income producing spouse to allow time to grieve, and to get one's affairs in order.
Tom, I too thank you for sharing the story about your wife with us, and offer my sympathy.
Similar threads
