Life insurance and a will

Maebb

Do you have life insurance and a will?

My work provides 1 year of pay as life insurance, but I would have to pay extra for anything above that. I don't know about DH's work. My work provides $2K life insurance for DH and DS, but that's not much. Do you have life insurance for your kids too?

And a will? DH and I need to think about these things and do something, but we've been putting it off so far.

LucilleAustero

Yes, through our jobs and privately. We also have a will, mainly because we want our daughter to be raised by my brother and his wife and we know that my husband's family would petition for custody if we did not have something in place.

Jennicillin

My husband is military so he has the SGLI.... however, we did buy additional life insurance on top of that.  

Each of our kids has a basic $10,000 policy, just enough to cover death expenses basically.

The military requires our will be updated annually and/or before each deployment

Tapthathank

We both have life insurance through work plus privately.  We have a $10k or $15k policy on DS.

We do not have a will in place yet...we have been meaning to do that.  If we both were to die, DS and any future children would go to my parents.  If they were unable (or unwilling) they would go to SIL.

MJN9510

We have life insurance through work and also some outside of work on us and also on DD.  I work in insurance, so I may be a little more passionate about the subject due to that.  I am a huge believer in having life outside of work and also having on children.  Some people disagree, thinking they dont want to gain financially from a childs dealth.  But the real reason for having life insurance on children is to lock in the cheapest rate possible and also to guarantee their insurability.  That way, God forbid, if something happens to them health wise, they have life insurance that can never be taken away from them, when they need it as an adult.  Regarding life outside of work for an adult, its always good to have a policy that YOU control.  You never know when or if an employer will decide to take away the life insurance as a benefit.  DH just had that happen to him last year.  His employer provided life insurance, but decided last year, to stop providing that to help cut costs. 

We do have a will as well.  We dont have that many assets that we were worried about, but wanted it in writing, who would get DD if something happened to us.

Pips09

Yes and yes. We both have policies through work, and privately. And we both have wills. I think part of being a responsible parent is having both of these things in place.

lildevil968

DH and I both have life insurance and wills. We had the wills done before i got PG with DS, so we need to have him added to the wills. We know who is going to take the kids if something where to happen to both of us. The only thing we don't know about is our living wills. We don't want for our parents, or kids to have to worry about making a life or death decision for us, so we need to figure out who will do that.

 

insertclevername

We both have private life insurance policies and life insurance through our jobs plus my pension. We really need to get a will done.

klondikebar

DH has coverage through work. Our whole family has private coverage including additional coverage for DH. We've had a will since we were married. It doesn't take long to set it up and it's important.

bluebird0812

We both have life insurance privately and DH has another policy through work too.  We do not have a will but have openly told the important people in our life who is take care of our children and we have comfort in knowing that- we believe no one would fight our decision.