https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Thu, 07 May 2026 11:35:25 +0000 https://boards.hellobee.com/topic/life-insurance-advice#post-2922356 Thu, 04 Feb 2021 13:33:23 +0000 graceandjoy 2922356@https://boards.hellobee.com/ <p>@agold: I have AIG and I had an agent priced stuff out for me and they were the lowest. </p> <p>Agree with what other people are saying; 10x our salaries for the next 20 years. So if one of us dies, the other can take care of after-life stuff, operate on having two incomes, have college, etc for kids taken care of, can save some of that as if we keep contributing to retirement, etc. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922347 Thu, 04 Feb 2021 11:11:55 +0000 agold 2922347@https://boards.hellobee.com/ <p>I’m just jumping in here because DH and I decided it’s time to supplement what we get through work. You girls with 10x your annual incomes - Please tell me who you have your insurance through if you think you are happy with them. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922174 Tue, 19 Jan 2021 14:51:22 +0000 ALV91711 2922174@https://boards.hellobee.com/ <p>@Corduroy: I think it’s smart to have a policy that is outside of work. No matter how secure your job is you could lose it and your benefits. If I have anything through work I consider it a bonus. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922157 Mon, 18 Jan 2021 15:36:02 +0000 Corduroy 2922157@https://boards.hellobee.com/ <p>Following because increasing my life insurance is literally on my to-do list. I have 2x my salary through work. I plan to get additional insurance privately (not through work) so my benefits won't be tied to my employment. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922156 Mon, 18 Jan 2021 15:25:48 +0000 catgirl 2922156@https://boards.hellobee.com/ <p>Everything @SweetCaroline: said. </p> <p>Currently I SAH and DH works. Our policies reflect that - the policy on me would pay off our house, cover childcare until no longer needed, some money for DD for college, assumes DH would possible pay for other things around the house, and that he may want to take a leave of absence or work part time for awhile. DH's policy would pay off the house, has some money for college for DD, and would allow us time to get on our feet - I would (obviously) need to go back to work but not instantly, even when I did go back it would take a quite a few years for me to reach his income level, and I would need to pay for childcare. If something happens to both of us the money would allow DD's guardians to care for her without it impacting their finances. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922154 Mon, 18 Jan 2021 14:37:32 +0000 ALV91711 2922154@https://boards.hellobee.com/ <p>We have enough to cover debts plus a bit extra to help cover immediate expenses. </p> <p>I think it is best to chat with an advisor to plan out what is best for your situation and what type of policy to get. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922145 Mon, 18 Jan 2021 12:35:15 +0000 SweetCaroline 2922145@https://boards.hellobee.com/ <p>Consider not only the expenses you have currently that would need to be covered but also think about how life would change if you were not here. DH and I each have a policy that would allow the other to work part time and/or hire significant child care or other outsourcing/support. In the event something happened to both of us, our combined proceeds would take care of our kids, including nannies, school, activities, etc. so that their guardians would not be impacted financially. Essentially, we want to make sure if there is a loss, the survivors can focus on healing and not worry about finances. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922141 Mon, 18 Jan 2021 11:29:17 +0000 kayla0416 2922141@https://boards.hellobee.com/ <p>We follow the Dave Ramsey method...approximately your annual income x 10. And term only, not whole life. The reasoning behind that is that term life insurance is waaaaaaay less expensive than whole-life, and by the time it expires (or you decide to cancel), most of the things you would need it for are not a part of your life anymore (mortgage, kids college, etc). </p> <p>We did a little more than the 10x your income, factoring in anticipated raises in the next 5-10 years, to lock in the lower rate from being younger and in good health. So my husband has 1.2m and I have 800k. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922137 Sun, 17 Jan 2021 21:44:40 +0000 ChitownRo 2922137@https://boards.hellobee.com/ <p>We did enough to cover our mortgage + college for our 3 kids. So we have a lot of life insurance. We prob have a more detailed Will and more life insurance than most bc I would see tragedies so often at work (nurse practitioner). 🤷🏻‍♀️ Look into “PVUL” - it is some sort of investment life insurance - but does require a lot of $ investment upfront. You get guaranteed growth/payout though. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922135 Sun, 17 Jan 2021 19:38:35 +0000 karenbme 2922135@https://boards.hellobee.com/ <p>@MLE81: I used this calculator from nerd wallet: <a href="https://www.nerdwallet.com/blog/insurance/how-much-life-insurance-do-i-need/" rel="nofollow">https://www.nerdwallet.com/blog/insurance/how-much-life-insurance-do-i-need/</a> which takes into account debts, college savings and a couple other things. We wound up buying more coverage than it recommended, but at least it gave us a starting point. Good luck! I’m normally very practical, but all of the end of life stuff is so hard to think about/deal with. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922134 Sun, 17 Jan 2021 19:32:28 +0000 meadow 2922134@https://boards.hellobee.com/ <p>DH did the balance of our mortgage. </p> https://boards.hellobee.com/topic/life-insurance-advice#post-2922133 Sun, 17 Jan 2021 19:26:20 +0000 MLE81 2922133@https://boards.hellobee.com/ <p>I need to update my life insurance coverage preferences with my benefits provider, but I am honestly really clueless about how much coverage I/we need. Are there any general guidelines for how much life insurance is recommended? Or, can anyone recommend some resources I can access to help me to make a more informed decision? </p>