What do you guys have?

This has been a Krallum presentation

[Edited on May 17, 2012 at 11:53 AM. Reason : also if i die anytime soon suspect foul play!]

5/17/2012 11:53:07 AM

Enough to pay off mortgage and then some, essentially.

5/17/2012 12:08:41 PM

fowl play

like cock play

5/17/2012 12:13:13 PM

We don't carry any. I thought about it for a bit, and if we did it, it was going to be term (not the "investment" kind) and just enough to pay off the house.

We ended up deciding not to because it really didn't make any sense for us to. If anything happened to either of us, the other would have plenty to continue to pay for the house and live like we do now.

[Edited on May 17, 2012 at 12:57 PM. Reason : ]

5/17/2012 12:51:55 PM

I'm about the same as stu, and that's the right way to think about it. Have enough to cover your current debts and include enough to also cover future expenses after death as well as enough to replace your expected salary for a few years if you have others depending on your income to survive.

If you want a professional to talk and explain some options to you, I can refer you to a coworker of mine that is a great guy and local to raleigh.

5/17/2012 12:53:05 PM

State Farm lost my business when we were shopping for life insurance though by telling us that we could get in a car accident on the way home if we didn't sign immediately.

F that guy. Just went through the Credit Union.

5/17/2012 1:03:02 PM

lol


some agents know how to sell, and others fail miserably

5/17/2012 1:05:29 PM

Ask a professional. When I inquired, 5x your salary if you have one dependent (i.e. husband/wife) and you are the main source of income. 10-15x your salary if you have 2 or more dependents and you are the breadwinner. You can get a $500,000 term (25 years IIRC) for $400/year. I added something a little less and will add more once we have kids. My idea was if it can cover me until I get to retirement age, my retirement income will be sufficient once the 25-year term runs out.

It was awesome to see the entire drug section of my bloodwork come back "NEG"

5/17/2012 1:09:16 PM

I have some free through work, but don't see much point in buying it since I have no dependents.

5/17/2012 2:04:47 PM

I only carry 3x salary now....but I'm mortgage and dependent free woohoo!

I joke with my mom since shes the beneficiary that she can take a nice long tropical vacation if i get ran over by a bus or something

5/17/2012 2:16:30 PM

currently we each carry 4x salary. We got no kids and only debt is the house.

5/17/2012 2:38:26 PM

my wife and I each have a 250k 10 year term policy

5/18/2012 8:07:46 AM

I have 4x salary through work for about $30 per year. I have very few expenses now, but it would be enough to cover my mortgage, all other debt, and cremation/funeral if I bought a house tomorrow.

5/18/2012 10:11:31 AM

My employer provides life insurance so whatever it is I have with them. I don't remember which one I signed up for.

[Edited on May 18, 2012 at 10:17 AM. Reason : s]

5/18/2012 10:16:51 AM

At work I automatically get 3x my annual salary included in my benefits package, and can bump that up to 5x for ~$20/month without any kind of physical.

5/18/2012 10:37:05 AM

I worked as a life insurance agent at Farm Bureau for a while. They had a great policy for $250K that was super inexpensive. It began as 20 year term insurance and then you could convert it over time as you were able to for less money. There are a ton of options though.

5/18/2012 10:59:43 AM