https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 15 May 2026 19:12:20 +0000 https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1200590 Wed, 06 Nov 2013 21:57:56 +0000 mrsjyw 1200590@https://boards.hellobee.com/ <p>DH and I both have group ins through work and also private life insurance so that both of us are covered financially if something happened to the other. And that DS would be covered financially if something happened to both of us.</p> <p>ILs also bought DH a policy when he was a child. We plan to do the same for DS soon. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1200531 Wed, 06 Nov 2013 21:09:21 +0000 T.H.O.U. 1200531@https://boards.hellobee.com/ <p>Just curious. Has anyone gotten this with a pre existing condition? (Cancer)?</p> <p>[attach=1506/13/mvvfbl.600x338.image.jpg] </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1189575 Fri, 01 Nov 2013 07:36:43 +0000 artsyfartsy 1189575@https://boards.hellobee.com/ <p>Yup DH's work provides us with a pretty great plan. We just adjusted our insurance and upped his to $250,000 and mine to $50,000. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1189562 Fri, 01 Nov 2013 07:29:49 +0000 hellobeeboston 1189562@https://boards.hellobee.com/ <p>We do. Got it when we did our will before we went on a trip without LO. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1189510 Fri, 01 Nov 2013 07:02:42 +0000 Adira 1189510@https://boards.hellobee.com/ <p>@tigger223: Thanks for the info! I'll have to look into them! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1189502 Fri, 01 Nov 2013 06:59:07 +0000 tigger223 1189502@https://boards.hellobee.com/ <p>@Adira: It's MetLife. I can't give a review yet on how good/easy the will prep process is because we haven't done it yet. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1189471 Fri, 01 Nov 2013 06:19:25 +0000 Adira 1189471@https://boards.hellobee.com/ <p>@tigger223: Oh wow, really??? Do you mind sharing who your life insurance is through?? </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1/page/2#post-1189319 Thu, 31 Oct 2013 21:34:49 +0000 tigger223 1189319@https://boards.hellobee.com/ <p>@Adira: We just bought life insurance, and one of the extras included is free will preparation, so at least in our case it made more sense to buy the life insurance first! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1189105 Thu, 31 Oct 2013 19:28:55 +0000 Cole 1189105@https://boards.hellobee.com/ <p>I was pretty insistent that we both have good coverage even without a lo yet. DH has 6x his salary and I have 1.5x his salary. He could easily live on just his salary whereas I couldn't live on just my salary. We went through a rash of family members losing their spouses and realized that covering lingering medical bills and funeral costs were only a part of the picture. No one was in good shape to go back to work immediately, good therapy is expensive, you might potentially need to pay for COBRA and then a private insurance plan etc. It takes a lot of stress off knowing that neither of us will have to worry about money on top of the emotional stress. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188261 Thu, 31 Oct 2013 13:05:26 +0000 prettylizy 1188261@https://boards.hellobee.com/ <p>One thing to think about when you're talking amounts, just paying off the mortgage and burial costs might not be enough. DH and I had a long discussion about how long it would take either of us to feel ready to go back to work after losing a spouse. We accounted for 6ish months of living expenses, that way if I needed to take a leave from work to get my life in order I wouln't be stressed about money. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188244 Thu, 31 Oct 2013 13:02:01 +0000 LuLu Mom 1188244@https://boards.hellobee.com/ <p>Yes, we got it when we were engaged, but we now need to increase it because it was before LO. It was for 250K, enough to cover hte house/expenses if one of us were to pass, but now with LO we need to up it to at least 500K. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188206 Thu, 31 Oct 2013 12:48:28 +0000 chrispygal 1188206@https://boards.hellobee.com/ <p>We both have life insurance thorugh our jobs for 2 times our salaries I think. That money would pay off a good portion of our mortgage for either one of us. I also have a small one for my daughter that I get through work. Very morbid, but I had a brother who passed away at the age of 4 and my parents have always had policies for us kids so I wanted to do the same. It's cheap, like $30 a year, and the benefit would be enough to cover burial costs, god forbid.</p> <p>We probably do need to look at things more closely and bump those limits. I can get additional limits through work but that requires a physical so I've been putting it off.</p> <p>My hubby and I both carry Long Term Disability though, in addition to short term coverage. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188129 Thu, 31 Oct 2013 12:18:07 +0000 PurplePeony 1188129@https://boards.hellobee.com/ <p>I have a policy through work for 6x my salary. If I died, about half of the policy would cover the balance of our mortgage and the rest could go toward expenses, LO's college find, or whatever DH needed it for. However, knowing that I might not be in this job forever, I'm contemplating getting an outside plan while I'm still relatively young and healthy -- I probably wouldn't get a huge policy but would use it mostly to get into the system so I could up the amount more easily later on. I don't really feel like paying out more money per month, but I think it might be a good idea.</p> <p>DH also has a policy through work but it sucks. I'd be sunk if I had to rely on it. He really needs to get something better ASAP. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188090 Thu, 31 Oct 2013 11:56:27 +0000 Adira 1188090@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: I just went to a legal info session that they had at work and there were sooooooooo much talks about trusts! I feel overwhelmed! But they sound like such a good idea... just hard to setup! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188082 Thu, 31 Oct 2013 11:53:19 +0000 Mrs. Jump Rope 1188082@https://boards.hellobee.com/ <p>@Adira: We had life insurance before setting up a will, and were never told otherwise. I'd talk to someone about that, though! </p> <p>In fact, my adviser didn't want me to change the beneficiaries on my policies until a will was drawn and a trust set up. He wanted me to change the beneficiary to the trust and not a person. The will would name the trustee and the person in charge of the trust until C was a certain age (we picked 25). </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188079 Thu, 31 Oct 2013 11:51:18 +0000 Adira 1188079@https://boards.hellobee.com/ <p>Not sure if you Bees will know the answer to this, though opinions are welcome!</p> <p>Does it make more sense to purchase a life insurance policy FIRST before I go the trouble of setting up my will? </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188072 Thu, 31 Oct 2013 11:49:18 +0000 Mrs. Champagne 1188072@https://boards.hellobee.com/ <p>@prettylizy: ugh i know!!! lol. we did it right when he first got the mortgage because we didn't have time to get life insurance... and now it's 2.5 years later and we're still being scammed!! i should make some calls today to set up an appointment!! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188070 Thu, 31 Oct 2013 11:48:09 +0000 prettylizy 1188070@https://boards.hellobee.com/ <p>@Mrs. Champagne: Mortgage insurance is the biggest scam out there!! Get out now! lol! </p> <p>DH and I both have life and critical illness insurance. I'm pretty sure we each have $500k in live and $250k in CI. Neither of our life policies are permanent, but our CI's are. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188068 Thu, 31 Oct 2013 11:47:39 +0000 Mrs. Bee 1188068@https://boards.hellobee.com/ <p>We both do. Mine comes out to around $40/month for a decent amount of coverage. Mr. Bee pays a little more for the same amount of coverage. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188057 Thu, 31 Oct 2013 11:42:04 +0000 Mrs. Champagne 1188057@https://boards.hellobee.com/ <p>We have mortgage insurance. Basically, if one of us dies, the house gets paid off. The dumb thing about this is our rate stays the same ($19 bi weekly) but the amount we would get keeps shrinking as we pay off the house.</p> <p>DH also has quite a good policy through work.. I think it is 1.5 times his salary or something, so a few hundred thousand.</p> <p>We need to change from the mortgage insurance to regular life insurance soon though. Probably for about $500,000. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188051 Thu, 31 Oct 2013 11:40:26 +0000 Mae 1188051@https://boards.hellobee.com/ <p>@Adira: Well his is double his current salary so I would be okay for a good while. I would PROBABLY have to sell the house but I'd probably have 2+ years to do it. Although really this was the plan we made last year before we were trying to have kids. Now that I'm pregnant I may see if we can pump his policy up to cover our mortgage so I wouldn't have to move. I think if we did 3x his salary that would cover it. Also I may more strongly suggest that we up my policy. He was very "if you died I'd never want to stay in the home I shared with you because it would be too hard so I'd just move and get an apartment anyways." But now that we have a kid coming I'd want him to stay. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188041 Thu, 31 Oct 2013 11:37:24 +0000 lemondrop 1188041@https://boards.hellobee.com/ <p>Yes, our financial planner set it up when we got pregnant with C. Mine is super cheap, and my husband's is much more expensive due to diabetes. I can't remember how much they are for, our financial planner took into account all of our expenses. We had multiple ones make bids and chose the best one, which turned out to be Minnesota Life.</p> <p>Our financial planner doesn't cost us anything, they get paid through the companies we invest with. I highly recommend getting one!! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188038 Thu, 31 Oct 2013 11:36:31 +0000 jhd 1188038@https://boards.hellobee.com/ <p>We do. We got insured for approximately 10 times our yearly income each. This number was recommended by Dave Ramsey in his Financial Peace class. It is also a term life policy as he recommends. </p> <p>Basically if something happens to either one of us, the other can pay off the house and any other debt and have plenty to live on for a while. I don't know how much we pay but I do know we pay quarterly and it makes me feel at peace to know this is in place. </p> <p>We both also have a small amount through our employers. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188028 Thu, 31 Oct 2013 11:34:35 +0000 indi 1188028@https://boards.hellobee.com/ <p>We go through Thrivent and we each have 20 year term policies. I think mine is $25/mo and his is $18/mo or so, for coverage that is about 5.5 years' worth of each of our salaries. That should provide enough to pay off any (future) mortgage we take, any loans, let the other one take additional time off work to cope, and stock $$ away for the LOs and future needs. </p> <p>As long as any big debts are paid off in full, and there is enough to cover our immediate needs (a year or two), from there the survivor would make our new plan (any children would be receiving SS, we may not need to own that house forever if we move out or eventually remarry, so that equity would come back to the surviving spouse, etc).</p> <p>We'll also look at adding another term policy for each of us in about 10 years, once we're done having kids, so we can guarantee a buffer for them through college.</p> <p>@jhd: Yay, Dave. That's why we went in. :-) </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188021 Thu, 31 Oct 2013 11:32:54 +0000 Adira 1188021@https://boards.hellobee.com/ <p>@yoursilverlining: Thanks about letting me know the tax piece!! I have no idea what I'm doing. :)</p> <p>@Bookish: Gahh, right??? I thought it was hard enough becoming a mom and being responsible for another human being, but now I have to think about his FUTURE and what would happen if I DIE??? Bleh!!</p> <p>@Mae: That's such a scary thought! Maybe he should get more for his policy so that if he were to die, you'd be okay?? I recently found out that my husband was getting the MINIMUM through his work, which was only $10K!!! I was like "Um, how is that helpful???" and made him bump it up to 2x his salary, but that's still not enough to even pay off the mortgage should he die, so we both need to increase ours! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188008 Thu, 31 Oct 2013 11:28:57 +0000 Mae 1188008@https://boards.hellobee.com/ <p>We both do, through my husband's employer. I don't remember the exact amounts though. I think my husband's is twice his yearly salary. Mine was the maximum we could have for spouses, which I think is 50k. I thought we should maybe get me a secondary policy to increase my amount, but my husband didn't feel it was necessary (and he's the one it would primarily affect!). Honestly he'd be more okay than I would if I died vs. if he died. He makes more than I do and he also has far less debt (I have a ton of student loan debt) and he also carries all our benefits. If he passed away I'd really be up a creek because he makes less and I'd still have all my student loans and I'd also lose my health care! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188005 Thu, 31 Oct 2013 11:28:33 +0000 Bookish 1188005@https://boards.hellobee.com/ <p>@Adira: Ugh we're in the same place - we need to set up a will, college fund, and life insurance. Being a grown up SUCKS! haha! We planned on getting like 300-500K on our plan, and doing a term.. it's what we can afford for now, and hopefully in 5 years we can buy more or up our amount, but that much would pay off all our debts (house, car and student loans) and allow either of us to continue living in the same manner, so hopefully that's enough! </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1188004 Thu, 31 Oct 2013 11:28:10 +0000 yoursilverlining 1188004@https://boards.hellobee.com/ <p>We both have life insurance (basic and supplemental) through our employers.</p> <p>We have enough to pay off our mortgages and have some breathing room, but not tons of coverage.</p> <p>You can increase your coverage amount, but of course, your premium will likely increase as well. Amounts over 50k are also considered taxable income per the IRS, so if say you have 500k through your employer, your W-2 will reflect a higher total wage at the end of the year than if you just have 50k (or less) of coverage. It's not a huge amount (we're talking like *maybe* a couple hundred dollars a year, depending on your age and coverage amount), but just another thing to keep in mind that you do need to claim it as income on your taxes. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1187993 Thu, 31 Oct 2013 11:23:03 +0000 Adira 1187993@https://boards.hellobee.com/ <p>@Smurfette: Thanks for your monthly amount!! The quote I'm looking at is similar - $110 for the both of us. So it sounds like it's on par!</p> <p>@rattles: The life insurance and 529 will probably be the easiest part. It's that damn will that's killing me! Can't I just be a kid again?? :)</p> <p>@mamabear57: WHAT! That sounds awesome!! I'll have to do some more research!!</p> <p>Does anyone have Amica? I was thinking of using them because their rates seem decent, but wasn't sure if any of you Bees use them or have an opinion about them. </p> https://boards.hellobee.com/topic/do-you-have-life-insurance-1#post-1187984 Thu, 31 Oct 2013 11:20:26 +0000 kiddosc 1187984@https://boards.hellobee.com/ <p>DH and I both have policies through our employers. They are enough to basically pay off our mortgage and other debt so that the surviving parent would only really be responsible for monthly bills like utilities and daycare. </p> <p>We also have a policy for LO. Got forbid something should happen, this policy would pay for funeral expenses and allow for some time off of work. </p>