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Do y'all have life insurance for you?

notkateanymorenotkateanymore member
in Stay at Home Moms
The post about supporting your children if your husband turns out to suck got me thinking...does anybody have a life insurance policy on themselves? We actually do, because I read some article when I was pregnant with DD that said SAHMs should have life insurance as well to cover things like nannies in case anything happened. I'm just curious if this is something other people have done.
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Re: Do y'all have life insurance for you?

  • JenWhite123JenWhite123 member

    ABSOLUTELY!  Every Mom and Dad should have life insurance, whether they work or not.

    If I were to die, DH would need to hire a nanny.  My life insurance would cover that cost and pay off the house.

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  • Mom2Mack1Mom2Mack1 member

    Yes, it's not as large as DH's but we have it. 

     

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  • GirlsOwnLoveGirlsOwnLove
    Absolutely. Heaven forbid, if something happens to me, I want DH to be able to have the funeral covered, along with childcare for when he returns to work, and any other expenses to help take the burden off
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  • DevonPowDevonPow member
    Yes, quite a bit. If something were to happen to me DH would either need a full time nanny, or to leave his job (he works very long hours with a lot of travel and we live out of state from all family).
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  • MamatoJacksonMamatoJackson
    Yes... like others said, he would need a nanny.
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  • 3lilbeans3lilbeans

    imageDevonPow:
    Yes, quite a bit. If something were to happen to me DH would either need a full time nanny, or to leave his job (he works very long hours with a lot of travel and we live out of state from all family).

    This. DH works 8 hours a day during his off season & up to 18 a day during busy season. It is just us her by ourselves so he wold need o hire a lot of help or quit, either way my life insurance is needed. 

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  • MJCFMJCF member
    imageMom2Mack1:

    Yes, it's not as large as DH's but we have it. 

    This.
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  • spiritenergyspiritenergy

    Yes. I also have disability.

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  • Temp174496125006552Temp174496125006552 member
    Yes.  Years ago, I used to work for an insurance company had the option of continuing to pay for the policy after I left, which I do.  It would be enough to cover my funeral, the cost of child care for Ben and the baby for several years and still have a little bit left over.  I've been considering increasing the policy (or taking out an additional one), but just haven't done it yet.
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  • joelnrachjoelnrach member
    Just got it a couple weeks ago. :)
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  • brooketinibrooketini
    Yep, enough to pay off our mortgage, pay for child care for both kids until they are in school full time, and the remainder should pay for their college. We have even more for DH. It was very important to me that both of us got life insurance when I was pregnant with DD.
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  • cactus5cactus5 member
    Yes.
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  • jetskreemrjetskreemr member
    Yes, both of us have life insurance, and DH also carries disability insurance. 
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  • MaxandRubyMaxandRuby member
    Everybody in my family has at least 1 life insurance policy on them. That includes my almost 4yr old son and my almost 2.5yr old son (they are child riders on one of my husband's policies).
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  • MainelyFoolishMainelyFoolish member
    Yes. Mine is only a 20 year policy (bought the year before I got pregnant with DD) because by the time the kids are teenagers, presumably they wouldn't need daycare. By the time kid #2 arrives, I'll have 14 or 15 years left on my policy. DH's policy is for 30 years (purchased at the same time as mine) and should see the kids through college.

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  • babypuplovebabypuplove
    Yes, for exactly the reason you stated.  The policy we have for me isn't as much as the one we have for DH, but it is enough to cover a nanny for quite a while.
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  • JOEBunnyJOEBunny member
    Not really, unless you count the $11,000 policy my parents bought back in 1972 that pays for itself, but I have significant savings that is from before we married.  It would cover a nanny as long as they need one.  DH could also afford to hire one easily.
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  • Temp6313048411121614Temp6313048411121614 member
    Yep. 
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  • vlagrl29vlagrl29 member
    For sure, we both do and have quite a bit on each of us.  We are starting to research quotes to get for our DD too.  I've been thru the death of one spouse already so I know how important life insurance is...you can never have enough of it.
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  • ashleyhuneyashleyhuney member
    Yes, just as much as for DH.
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  • notkateanymorenotkateanymore member

    imagevlagrl29:
    For sure, we both do and have quite a bit on each of us.  We are starting to research quotes to get for our DD too.  I've been thru the death of one spouse already so I know how important life insurance is...you can never have enough of it.

    I'm so sorry.  

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  • meglewmeglew member
    Yes, I have a policy that would pay for child care for DD, a majority of our house (if necessary) and private school tuition for DD.  I also have a child rider policy for her attached to my policy.
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  • denisemancini98denisemancini98

    Yes, it?s absolutely essential for parents to have some form of life insurance on themselves. If you are a SAHM, don't underinsure yourself thinking that your DH is worth more than you. You'd be surprised at what your actual net worth is if you add up all the different ways you contribute to your household. Sometimes, SAHMs are worried that the money won't actually go to hiring costs for a nanny, maid and chauffeur, but you can always choose how the death benefit pays out. You can leave it in a trust for your children to inherit instead. Term life insurance is the most affordable type of insurance; term insurance quotes these days are quite cheap and can be easily paid for under $40 a month-- depending on your health and lifestyle. 

    Denise Mancini
    Disclaimer: I work for AccuQuote and this is my personal opinion.

     

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  • StephNJerStephNJer member
    Yes, of course. There are many things he would need to take of if I wasn't around. Childcare, for one. We both have the same amount in life insurance.
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