Husbands seem to think logically about life insurance. I make this much money so I need this much coverage. Even the goverment recommends 12-15 times your income in coverage. Yet everyone feels like that's excessive, why? In my converstations most wives don't realize that with the amount of life insurance their husbands have they are supposed to go to school, raise kids, get a job, pay off debt and live on a total of 40k/yr or less. Even worse it may only last a few years. Generally husbands get coverage based on their income. However when women are asked these detailed questions they gain a new perspective amd tell their husbands how it is!
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Are you ok with going right back to work or school and putting kids in day care? Do you want a time limit on that?
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Do you want to have plenty of time to potentially find a new husband because he will be a good father rather than getting married prematurely for financial reasons?
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How long do you need to grieve before you start thinking about school or work?
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Once your debt is paid off how much would be left?
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What are the costs of daycare and do you want to burden you family with watching after your kids? What if they're not around at that time?
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Is it important to make sure your kids college and your retirement are partially or fully funded?
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Would an extra 20-40/month be worth spending to know you'd have no worries with out your husband?
Funny that I should ask right? Well I think it's funny that people won't spend a little extra to make sure in their abscence their family has all the choices they'd give them if they we're still here. Let's face it we blow more than that on worthless things each month. I think for some reason people feel guily having too much life insurance. "I don't want to prosper by my husband's passing" they'll say. Well if we do the proper analysis it's not just a guess. You can actually put some hard numbers to paper and figure out exactly what is needed. Please contact me for a free financial review. Maybe you already have enough but with low rates these days I could at least save you some money. Contact me here.
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