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johnsae
Sip.
Member since 3/06 18677 total posts
Name:
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How much do you pay for life insurance?
DH and I just got an estimate and they are trying to charge us $4,000!! We are covered for a lot of money but it still sounds steep to us...how much do you pay?
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Posted 4/29/07 7:15 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: How much do you pay for life insurance?
about 160 a month for dh and I
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| Posted 4/29/07 7:16 PM |
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CouponKT
Our family is complete
Member since 6/06 16494 total posts
Name:
K
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Re: How much do you pay for life insurance?
I pay about $75 for DH and I together. We have coverage for 500,000 each which I think is really more than what we actually need...
ETA: $75 a month...
Message edited 4/29/2007 7:33:25 PM.
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| Posted 4/29/07 7:28 PM |
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KLSbear
LIF Adult
Member since 1/06 1908 total posts
Name:
Karen
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Re: How much do you pay for life insurance?
That could be about right for a high value whole life policy. Depends also on your age and health. The older you are, the higher the payments. Think of it as a mortgage on your life expectancy. If you're 25, the payments are lower because you're expected to live longer and you have more time to pay on the policy. If you're 40, you have fewer years to pay off the same amount (assuming you live to your natural age) so the payments are higher. Term policies are cheaper because something like 98% of all term policies expire without ever paying the benefits - since the companies rarely pay out on those they don't have to charge as much. With whole life, you build cash value and they never expire so you can either pull out cash value yourself, or your heirs are guaranteed to be paid, even if you live to 100.
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| Posted 4/29/07 7:28 PM |
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sami
So very blessed!! Thank u !!
Member since 8/06 6524 total posts
Name:
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Re: How much do you pay for life insurance?
DH pays $810.00 a year for me..
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| Posted 4/29/07 7:31 PM |
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johnsae
Sip.
Member since 3/06 18677 total posts
Name:
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Re: How much do you pay for life insurance?
Posted by KLSbear
That could be about right for a high value whole life policy. Depends also on your age and health. The older you are, the higher the payments. Think of it as a mortgage on your life expectancy. If you're 25, the payments are lower because you're expected to live longer and you have more time to pay on the policy. If you're 40, you have fewer years to pay off the same amount (assuming you live to your natural age) so the payments are higher. Term policies are cheaper because something like 98% of all term policies expire without ever paying the benefits - since the companies rarely pay out on those they don't have to charge as much. With whole life, you build cash value and they never expire so you can either pull out cash value yourself, or your heirs are guaranteed to be paid, even if you live to 100.
Thank you. This is really helpful.
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| Posted 4/29/07 7:34 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: How much do you pay for life insurance?
mine is dirt cheap becuause my father started it when I was 16. I think its only $100K though, I need to up it.
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| Posted 4/29/07 7:35 PM |
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happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
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Re: How much do you pay for life insurance?
Posted by BabyCote2006
I pay about $75 for DH and I together. We have coverage for 500,000 each which I think is really more than what we actually need...
ETA: $75 a month...
What company do you use?
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| Posted 4/29/07 7:37 PM |
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smiledoc
LIF Infant
Member since 12/05 136 total posts
Name:
Lauren
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Re: How much do you pay for life insurance?
It really depends on the type of life insurance and the value - I pay more than that and it is only for myself! But my policy carries a cash value that I can use in the future
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| Posted 4/29/07 7:42 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: How much do you pay for life insurance?
Alicia, it depends on EVERYTHING...the value of policy, term or whole life or universal, age and health.
You have to find out what is beneficial and affordable for you both and decide from there. Considering I sell it for my company you have to get all options and not have someone push something that isnt going to be financially good for you.
Fm me if you have questions.
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| Posted 4/29/07 9:55 PM |
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JenBenMen
party of five
Member since 9/06 11343 total posts
Name:
Jen
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Re: How much do you pay for life insurance?
we pay $150/month for DH
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| Posted 4/29/07 10:15 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: How much do you pay for life insurance?
$80/month for both my dh and I
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| Posted 4/30/07 1:42 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: How much do you pay for life insurance?
my new company will pay in full $50K for me. DH & I looked into separate insurance -- for about $375K each, we were quoted about $150/month. that was for a 30 year term policy. looking at the other posters, i think that's high.
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| Posted 4/30/07 1:45 PM |
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MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
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Re: How much do you pay for life insurance?
DH and I pay $205/mo for the two of us.
I have a $100 K whole life insurance policy and DH has a $200K hybrid. Both earn cash value over time.
We also have life insurance through work, which is dirt cheap.
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| Posted 4/30/07 1:49 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: How much do you pay for life insurance?
that's about what we were quoted for $1M on Jake and $500K on me
we decided to hold off for now- b/c we each have $150K from work- which until will have childern is fine and I want to do some more research b/c we were getting term and whole life and I have been reading that whole life is a waste
so back to the drawing board
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| Posted 4/30/07 1:52 PM |
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CaseyGirl
Mommy to 3 Boys :)
Member since 5/05 19978 total posts
Name:
Jen - counting my blessings...
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Re: How much do you pay for life insurance?
I only pay $10/month but that is for a small amount - it was through my old job and I continued the coverage bc my new job does not offer life ins.
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| Posted 4/30/07 2:14 PM |
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colesmom
Brady's mom too!
Member since 5/05 1989 total posts
Name:
Lea
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Re: How much do you pay for life insurance?
Posted by BabyCote2006
I pay about $75 for DH and I together. We have coverage for 500,000 each which I think is really more than what we actually need...
ETA: $75 a month...
Same here -- we use allstate. We also both take advantage of smaller policies through work that cost about $3 per paycheck.
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| Posted 4/30/07 2:28 PM |
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MarisaK
HELLO Manolo !!
Member since 5/06 14562 total posts
Name:
Marisa
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Re: How much do you pay for life insurance?
It depends on A LOT of things- and inexpensive does not always mean beneficial - It all depends on the company and the product you are buying - You DO NOT want a no name company -
Also, whole life vs. term vs. Variable vs. vs. vs - there are a million different products out there depending on your needs - I work with Variable Life and I can not tell you how many people have NO CLUE what they've gotten themselves into
My Dad worked corporate for 35 years as a life product developer/manager. - He has since retired and become an agent.
To answer the question, DH pays $230 a month and I pay $60 a month for our private policies. - Both are whole life - MY policy is so cheap b/c my Dad took it out on me when I was a kid, and whe I reached 25 the policy had a rider to buy additional insurance at my ORIGINAL age/underwriting status - (something to keep in mind for anyone w/ kids) My husband didn't take his out until he turned 29 - Which is by no means old, but you can see the difference. -
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| Posted 4/30/07 2:44 PM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: How much do you pay for life insurance?
DH and I each have a $1 million policy - for me, it costs about $500 a year (take into consideration that my mother and aunt had breast cancer). For hubby, it costs $2000 a year, but that's because his father passed away about 25 years ago from a heart attack, and his hobbies include flying planes and driving a motorcycle.
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| Posted 4/30/07 2:56 PM |
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LUCY
I <3 Gabriella
Member since 6/06 1029 total posts
Name:
N
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Re: How much do you pay for life insurance?
We pay $600/yr. for term life for DH at 1/2 million.....
I have a great perk at work which would pay out about 300k, it is term and I pay nothing....
But, once the baby comes we will probably raise both closer to the mil. mark.
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| Posted 4/30/07 3:02 PM |
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monkeybride
My Everything
Member since 5/05 20541 total posts
Name:
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Re: How much do you pay for life insurance?
We pay $1500 total for both of us. I think we are insured about 500K each but we also didn't get top rates because we're not class A on the health scale. $4K sounds high but it's all relative to how much you're insuring yourselves for.
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| Posted 4/30/07 3:48 PM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: How much do you pay for life insurance?
Posted by hazeleyes33
$80/month for both my dh and I
That's what we were quoted.
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| Posted 4/30/07 3:50 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: How much do you pay for life insurance?
Posted by LUCY
We pay $600/yr. for term life for DH at 1/2 million.....
I have a great perk at work which would pay out about 300k, it is term and I pay nothing....
But, once the baby comes we will probably raise both closer to the mil. mark.
I have a similar plan through work. It's about $1 million and I contribute $223/year
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| Posted 4/30/07 11:48 PM |
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