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Bridex100
Two Under Two Mommy
Member since 3/08 10420 total posts
Name:
Momx100
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How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Could you please how much your annual premium is and how much your policy dollar amount is?
DH and I are in good health, ages 30 and 31.
This has been on my to do list for a few months now along with writing a will and getting DS a passport.
edit: Can you recommend a decent online insurance quote site? I prefer not to just google.
Message edited 8/27/2009 11:44:36 AM.
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Posted 8/27/09 11:15 AM  |
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mrsgafforio
LIF Adult
Member since 3/07 3929 total posts
Name:
Christine
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
We have slacked on this and my husband sells Life insurance!! So bad I know!! Right now he has an inexpensive 1 yr renewable term 250k just to lock in and protect insurability. He got a great rating and can convert to whole life without doing another medical. It's only $17 a month. I'm clueless when it comes to this stuff but need to get a policy for me as well. We also have a small policy for DS. FM if you have any questions and I can ask DH!!
** To add DH is 34
Message edited 8/27/2009 11:32:43 AM.
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| Posted 8/27/09 11:25 AM |
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Hotmamma408
LIF Adolescent
Member since 6/08 692 total posts
Name:
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Sorry to crash but can I add to your question? What company do you recommend? Dh and I are in the same boat and we are the same age :)
Message edited 8/27/2009 11:28:57 AM.
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| Posted 8/27/09 11:28 AM |
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Bridex100
Two Under Two Mommy
Member since 3/08 10420 total posts
Name:
Momx100
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Posted by eager2BeOB
Sorry to crash but can I add to your question? What company do you recommend? Dh and I are in the same boat and we are the same age :)
I am also so clueless. I have no idea where to begin and who to ask. I was trying to get some leads on here.
I don't know if I should contact some sort of insurance broker or contact someone at a place like Met Life.
I also have absolutely no idea how much a fair premium is.
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| Posted 8/27/09 11:34 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
We have 30 yr term policies 25, 26 at the time each for $500,000 costs 1300/yr
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| Posted 8/27/09 11:37 AM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
I have to do this too - would love more info 
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| Posted 8/27/09 11:38 AM |
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XcalystaX
Sooo Sleep Deprived....
Member since 7/06 2742 total posts
Name:
S
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Jumping on the bandwagon to ask for more information! 
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| Posted 8/27/09 11:41 AM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
I work in the field and can help...FM if interested.
I could give you a quote.
ETA: Some helpful info:
All insurance is based on age/health and the amount of the death benefit.
Term is a policy that offers a benefit if and while that policy is in force, it pays out.
It renews after 10/20 years.
Death benefit should be an amount that will cover say, a home mortgage, debt (if any), college etc.
Most ppl will ask for $500k or 1,000,000.
Message edited 8/27/2009 11:45:21 AM.
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| Posted 8/27/09 11:41 AM |
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A3CM
Avatar Title
Member since 9/08 3762 total posts
Name:
Mommy
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
we have 5 policies
DH (41yo):
$1MM/20yr/term/$609.12yr
$500K/20yr/Convertible-Term*/$881.76yr
Me (35yo):
$500K/20yr/term/$242.76yr
DS (2yo):
$100K/Whole Life/$324yr
DD (6weeks old):
$100K/Whole Life/$276yr
*Convert-Term means in 20 years we can convert the term to a whole life without having to go through another physical.
so for all 4 of us we pay $1725 a year.
we went with a financial advisor so the policies are with different companies.
INGRelistar
National Life
Avivia
those are the three companies we have for the 4 policies.
my guy is amazing if you want to speak with him FM me and i will get you his number
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| Posted 8/27/09 11:45 AM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
We each have a million dollar policy. DH is 38, I'm 34. Mine is $600 a year, his is $1500 a year because his father died very young of a heart attack, he rides a motorcycle and flies planes.
ETA, we have 30 year term policies that we took out when I was 30 and he was 34.
Message edited 8/27/2009 11:48:49 AM.
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| Posted 8/27/09 11:48 AM |
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mrsgafforio
LIF Adult
Member since 3/07 3929 total posts
Name:
Christine
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
My husband works in the field and works with a lot of young families on LI. FM me if you have any questions!!
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| Posted 8/27/09 11:48 AM |
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jambalady
Is it summer yet?
Member since 8/06 7392 total posts
Name:
Holly
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
We JUST did this a few weeks ago.
We each got 20 year term life for $1million each.
We are both in good health and 35 yrs old this year.
Our premium is $550/yr for each of us (so $1100/yr total).
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| Posted 8/27/09 11:49 AM |
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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
why have life insurance for the kids? Sorry i'm ignorant about this stuff. 
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| Posted 8/27/09 11:50 AM |
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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Posted by jambalady
We JUST did this a few weeks ago.
We each got 20 year term life for $1million each.
We are both in good health and 35 yrs old this year.
Our premium is $550/yr for each of us (so $1100/yr total).
which company did you use?
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| Posted 8/27/09 11:50 AM |
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A3CM
Avatar Title
Member since 9/08 3762 total posts
Name:
Mommy
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Posted by aliwnec10
why have life insurance for the kids? Sorry i'm ignorant about this stuff.
we got them whole life policies bc it will NEVER expire and if they don't take the cash value at 18 they will NEVER have to go for another physical and the premium will always remain the same, and not only will it be cheap for them, they can withdraw the money when they need it, and when they eventually pass away at the age of 98 (we can only hope) their beni's will receive $100K
make sense?
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| Posted 8/27/09 11:54 AM |
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jambalady
Is it summer yet?
Member since 8/06 7392 total posts
Name:
Holly
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Posted by aliwnec10
Posted by jambalady
We JUST did this a few weeks ago.
We each got 20 year term life for $1million each.
We are both in good health and 35 yrs old this year.
Our premium is $550/yr for each of us (so $1100/yr total).
which company did you use?
We went through a broker, so I don't remember who our actual policies are with right now (I want to say Genworth and Lincoln?), but I can find out when I get home. We have diff. companies.
The financial broker info is:
Mitlin Financial, Inc.
(631) 952-4466
www.mitlinfinancial.com
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| Posted 8/27/09 11:54 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
I am going to be 34, but I took out my policy when I was 31. It's small, only $125k- for final expenses and some income replacement for DH- I don't view insurance as something to "set DD for life" as it does get quite expensive to carry the insurance.
With that said, for 125k, I pay $42 a quarter- about $168 a year.
DH is 37 and just took out his poliicy for 500k (he obviously makes more money- so his income replacement is more)- his policy costs $52.00/a month- you can see the big difference between the two of us.
We are both in good health
edited to add we went w/ lincoln benefit life for both policies through allstate.
Message edited 8/27/2009 11:59:02 AM.
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| Posted 8/27/09 11:56 AM |
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mrsgafforio
LIF Adult
Member since 3/07 3929 total posts
Name:
Christine
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Re: How much do you spend a year on life insurance? Could you share your life insurance details? Your age, policy $, annual premiums?
Posted by aliwnec10
why have life insurance for the kids? Sorry i'm ignorant about this stuff.
Whole life policy builds cash value over time and could act as a savings plan in addition to life insurance. Also very inexpensive.
**Edited to add we have New York Life
Message edited 8/27/2009 12:02:39 PM.
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| Posted 8/27/09 11:57 AM |
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