Will have to pay out of pocket, I do not qualify for medicaid. Anyone else have a policy similar? Or know of any other state aided health insurance programs that some might qualify for but just have to pay a copay?
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Need health insurance for a 24 yo female and infant in Florida?
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Need health insurance for a 24 yo female and infant in Florida?
Will have to pay out of pocket, I do not qualify for medicaid. Anyone else have a policy similar? Or know of any other state aided health insurance programs that some might qualify for but just have to pay a copay?
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mbrcatz17
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betty w
Have you tried calling your local hospital and ask to speak to a social worker,she may have a solution for you.
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redgator40
try healthy kids for your child. what about your job? use a search engine to try and apply for insurance.
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AZBlue
As an Arizona Blue Cross broker, I believe the Blue Cross in your state should be reasonably priced. Here’s the link to get a price…
http://consumerdirect.bcbsfl.com/wps/portal/cwsales/ -
str8putter
check out www/bjstewart/mymedicalquotes/ com
and run yourself a rate or just give him a call -
Rony
for Florida, I found interesting information about your answer here. http://all-insurance-online.blogspot.com/2007/09/online-health-insurance-quotes.html
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Need health insurance for a 24 yo female and infant in Florida?
Will have to pay out of pocket, I do not qualify for medicaid. Anyone else have a policy similar? Or know of any other state aided health insurance programs that some might qualify for but just have to pay a copay?
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mbrcatz17
Well, for the baby, you should check with the state Children’s Health Insurance Program. But for you, it’s going to be about $250 a month, unless you want a major medical policy – with a high deductible – then it will be about half that.
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betty w
Have you tried calling your local hospital and ask to speak to a social worker,she may have a solution for you.
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redgator40
try healthy kids for your child. what about your job? use a search engine to try and apply for insurance.
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AZBlue
As an Arizona Blue Cross broker, I believe the Blue Cross in your state should be reasonably priced. Here’s the link to get a price…
http://consumerdirect.bcbsfl.com/wps/portal/cwsales/ -
str8putter
check out www/bjstewart/mymedicalquotes/ com
and run yourself a rate or just give him a call -
Rony
for Florida, I found interesting information about your answer here. http://all-insurance-online.blogspot.com/2007/09/online-health-insurance-quotes.html
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Do Health insurance companies raise premiums based on how many claims you file or doctor visits you make?
Is a health insurance company aloud to raise your premiums based on how many times you visit a doctor or how many times you file claims with them and make them pay benefits? Or like if your diagnosed with a serious condition? Or are they only aloud to raise premiums based on your age?
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mrsdeli
In NJ rates are based on demographics, age, and gender. In NY rates are community rated and can only increase with the trend. That is for group insurance for small business. Rates for large groups are experience rated. I don’t know what state you are in so I can’t tell you for sure.
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Insurance Pickle.com
They are not ALLOWED to do that if YOU’RE diagnosed with a condition. Everyone will share in the additional costs the following year, so it’s never a good idea to use coverage abusively.
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Is my husband being selfish or reasonable about his feelings towards life insurance?
My husband and I had a huge fight about life insurance last night. So much so that I am seriously questioning his morals, compassion, and his feelings of caring for me.
Yesterday we received a letter in the mail from our bank, stating that we could get 0K in term life insurance for /month. Right now we are both unemployed due to our companies downsizing, and we both had life insurance policies through our employers that ended when we were laid off. When I saw the ad from the bank, I mentioned it to him and told him I thought it might be a good idea for us to have life insurance without relying on our employers for it. He disagreed and said it would be a waste of /month right now that we need for other things and that he has no reason to have to make sure at our age (37) that his wife is "set for life" in the event of his death. I was blown away by this, not only because I was raised that spouses are supposed to watch out for each other and make sure each is provided for as needed, but also because if he were to die, I have a disease that has already caused me to have to go on disability once in my twenties, and it could happen again, and also because I only earn half what he does. I couldn’t believe he would think that he should take precautions to take care of me. Here is what ensued:
This is not about the money, or me getting some sort of high dollar amount when he dies. It’s about having a sense of morals and responsibility for your beloved spouse and taking care of that person. I tried explaining this to him repeatedly, and he just kept telling me that life insurance is a waste of money at our age and that it is selfish of me to expect him to "set me up for life" once he is dead and gone. I mentioned that there is the possibility that I could easily become unable to work and provide for myself due to my Diabetes and the complications that can come with it, and that even if I am able to work, I make about half what he does and would not be able to continue to pay the bills, etc. He’s always made almost exactly double what I earn. I am astonished at his lack of sensitivity in telling me that I am a "gold digger" and "selfish" because I expect him to feel a sense of responsibility, caring, and compassion towards me enough to WANT to protect me financially in the event of his death. He just doesn’t get it. He keeps telling me that I am trying to take advantage of him and that it’s ridiculous to expect him to want to protect me by having life insurance when we are only in our late 30’s. He says that if he died tomorrow, I would still be able to work and provide for myself, so why should he do it for me by giving me "some huge pay-out to make your life easier"? He says that the money I could get from selling our house (right now we are in the process of looking and have about 0K in savings to put towards a house–this would go to me if we didn’t have a house yet) would cover any debts and funeral expenses. But then where would I live? What if the real estate market is flat at the time he dies and I can’t get enough for the house to cover everything? He says this is not his problem at that point. He also says once he is working again, the life insurance he’ll likely have through his employer should do the job.
This is really not about me having millions of dollars if he were to die. What aggravates me, saddens me, and has me wanting to run to the divorce court is his overall lack of compassion and lack of caring for me that he would basically have a resentful and bitter attitude towards making sure I am cared for in the event of his death. Calling me a "gold digger" because I think life insurance is a good idea? What kind of husband doesn’t want to make sure his wife will be okay under any and all circumstances?! I am his wife, therefore shouldn’t he want to make sure I am taken care of in every way he can? I want to make sure of that for him.
I seriously can’t believe I married such a selfish, cold person! Am I over reacting? Please be direct, I appreciate it!
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Tracy
80 a month is a bit high because you are not working. Is it a waist of money to have it right now. yes and no. ods of you dieing if you are healthy slim. but possible. I would find some type of coverage with a min of 10.000 thats enought to put you in the ground it wont be fancy but it will do the job if needed. when you get back to work again upgrade if you would like
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kiracasnjacsmom
If you’re both unemployed, $80 is a lot to pay for life insurance. I do understand that it is important, and being in your 30’s is not too young to think about "what if". How long have you been married? The first few years of my marriage my husband still listed his mother as his beneficiary, and we had kids. I thought that was wrong since i didn’t believe she would look out for us. Maybe you need to shop around for something less expensive, and take out a policy on your own. I have policies on all my kids, my mom and my husband. If something happens to any of them i know i will be able to pay funeral expenses and any medical bills etc.
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Sam
You are over reacting given the circumcstance. At this point he is probobly paranoid that he might have an "accident" and you’ll run away to some island with a suitcase full of cash.
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free_angel
Do everything you can to sign up for that life insurance. Don’t name hubby as the beneficiary. If something happens to you before him, he can figure out a way to pay for the funeral expenses.
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How much cheaper is health insurance in Texas?
Does anyone have data, did Tort reform lower health insurance costs? I mean isn’t texas having a surplus or perhaps a surge of doctors since passing such law? Let’s prove to the liberals this works by using the facts for a change.
If it’s not cheaper than other states, it should have at least went down, right?
Who cares what liberals think? Conservatives do care about facts, so can you at least answer the question?-
The Patriot
Great question! I would love someone to have some links to back up the claims as well! http://www.tortreform.com/about The Texas Tort reform groups have not claimed on their website that this is about lowering insurance costs. Click on the links to see.
FACT – Insurance companies in the USA admit to pushing up prices, buying politicians and not paying out claims when they should [a]
FACT – PER PERSON the USA spends more on healthcare than any other nation on the planet [b]
FACT – Obama debated his plans before the election for healthcare [c]
FACT – the chance of a child under five of dying in the USA is greater than industrialised nations with universal health coverage [d]
FACT – Obama was elected to bring in change [e]
FACT – Obama wants to stop insurance companies screwing the American people [f]
FACT – The reforms Obama wants work in the Netherlands and in Switzerland [g]If anyone can prove the facts above are wrong, e-mail me and let me know.
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Ted Kennedy's Car
Liberals don’t care about facts, if they did, they would look at Michigan, California and New Jersey and realize that unchecked liberalism is a total disaster
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Dennis C
having health insurance wont save ur life… a doctor with common sense might… which one are you putting in college..?
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LadySnowbird
I thought it was Conservative who do not like facts. It distorts their world. Fox news has never reported the truth about anything. Oregon is one of the most liberal states we have. We have Health Insurance competition. There are several good company’s offering good health coverage in Oregon. That is good for Oregon we have competitive prices.
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zzone
I have had the same Insurance Company for about 20 year, they have always been good to me. Texas has some of the best and famous hospitals in the world. I do know that Texas has a cap on medical malpratice law suits, as for as damages etc. It worked for Texas and Texas economy is booming.
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America on Bush's Watch
In Texas they just kill the elderly when they reach age 70.
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jeeper_peeper321
It didn’t really effect insurance rates in texas.
What it did, was reverse the trend of doctors leaving Texas to practice in another State.
Texas doctor population had been declining for over 5 years straight.
Now the doctor population in texas is increasing again.
Which means better medical service to the citizens of Texas.
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future
California passed "tort reform" capping pain and suffering in California more than 5 years ago. Have they lowered rates at all? Of course not! They are among the highest in the country.
But the CEO’s made record million dollar salaries there while laughing at us and dead and injured people who couldn’t sue – THANKS GUYS!
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Whole Life vs Term Life ?
Right now I have term life insurance, but I am trying to determine whether I should switch to whole life. I just noticed after 3 years that my premiums at 58 will go up almost 0, that’s crazy. Then I realized if when I do turn 58 if I don’t want to continue with that policy due to high premiums, I will not get any of my money back. I don’t like that. I don’t believe I need a high insurance policy, and I understand whole life cost more, but I am wondering if I should take that risk.
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Richie Rich
Regarding money back, do you get money back on your car insurance? health insurance? no. So why should you get it back on life insurance? (the only policies that pay dividends are from mutual companies. All a dividend is in insurance is return of OVER PAID premium).
Regarding Whole Life vs. Term. There is only term insurance. Whole Life/cash value/cash SURRENDER value are contracts that purchase term insurance and invest a portion of the proceeds into funds. The purpose of the extra money is to have the cash value equal the face amount at age 100 so the insurance company wont lose any money.
If the policy is going to go up after 3 years, get one that is level for a longer period of time. You can get new policies typically till age 70 and some will renew till age 95 or 100 and still remain more affordable than cash value (assuming you get the right term policy).
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Katie, you may want to double check. Just because you stop paying, does not mean you have stopped paying. You are paying for the insurance out of that cash value of yours. That policy is also probably designed to lapse sometime between your 65th and 70th birthday.
For the same premium you are paying now, you can probably get a term product with 3-5 times, or more, the coverage. Closer to what you would need if you were to die instead of the $35k – $40k you have now. Your funeral alone will run between $10k and $15k on average. Not counting any final medical bills that may need to be paid.
On top of all of that, that cash value of yours, gets surrendered back to the insurance company UNLESS you pay MORE for it. Read your policy and you will see what I am talking about.
A point of note, insurance regulation is very strict. By advising your employees that depend on you for credible advise, that they take a product that may not be in their best interest, you, and your company, could be held liable for fairly large lawsuits. The best advise you should be giving them is to talk with a financial adviser/analyst/coach instead of their existing agent. They can give much better advice.
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katiesquilts
As the Benefits Manager for my company, I get asked this question a lot. We provide term life for our employees, and they have the option to purchase more, and if they ask, I advise them to check with their home owners/car insurance etc, vendor to see about a whole life policy.
Whole life insurance is always a better product. While it’s more expensive, the right policy will virtually pay for itself in the long run. For example, the whole life policy I have for myself will no longer require that I pay premiums in about 20 years (I’m 41 now), with the same benefit. In fact, my $35,000 benefit will actually be worth closer to $40,000 by the time I’m 65. (I purchased mine through Farm Bureau, who also insures our home and autos)
Bottom line: if you can get some term life through your employer, the premium may be a little more stable, but 58, you’re really reaching the limit of affordable insurance. Get a whole life policy now. Look at what you’re insuring-do you need money to pay off a home if you die? Just to pay bills? Do you have dependents? Your mortgage lender may have life insurance for your mortgage-enough to pay off the house if you die. If you have no dependents, and just need enough to pay for any bills that may be left behind, check out a small policy–a whole life policy, and make sure the people who need to know KNOW how to file a claim if necessary.
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mbrcatz17
Run the numbers. Whole costs about ten times as much as term. If you invest the difference, you’re WAY ahead of the game.
The only way you get your money back on whole life, is by DYING. Otherwise, the cash value is about 10% of what you’ve paid in – pretty crappy return, from an investment point of view.
Define your goal. For most people, buying term & investing the difference, is the most cost effective way to acheive the goal.
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Insurance Pickle.com
Consider how long you need insurance. You can get term to be level for 30 years or even a low cost policy just to give you a guaranteed death benefit until age 100 with little to no cash value. You buy insurance for the death benefit anyway.
It’s unlikely that you’d need a whole life policy, but maybe a to age 100 policy combined with some term.
You can see the differences here…
http://www.InsurancePickle.com/life-insurance/
The quote engine requires no personal information to use.
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car253
Don’t change your policy. The other poster was right. Stick with term and invest the difference.
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Chris C
One other question: Have you look at what the premiums will jump to after that next term? Gauranteed $250 will seem cheap when you look at what it will jump to next.
That next time you’ll be betting $250/month that you will die within the next 5 years by age 63. After that what $500 a month that you’ll die before age 68. Then you’ll be betting $800 a month that you’ll die by 73. Why not bet $300 a month now and bet that you’ll die at some point and not worry about how old you’ll be when you die? (PS: those numbers are just guesses as to what the premiums will go up
It really depends why you are buying the insurance in the first place.
Are you protecting a temporary need or a perminant need?Temorary needs are things that will go away after a certain period of time. Temporary needs may include (but not limited to):
Debt payment
Mortgage payment
Child care for young children
making sure the kids get through school
providing your spouse with income for a couple years to greivePerminant needs are something that will never go away whater you die tomorrow or 40 years from now. Perminant needs may include (but not limited to):
Funeral costs
Admin fees
lawyers fees
Final years income taxes
Estate taxes
Charitable giviing/legacy fundIf it’s temporary needs go with Term. If it’s perminant needs go with whole life.
I like to relate it to housing.
Term in like renting a house. It’s ussually a temprorary fix. Yes it’s cheaper, but you’ll never own it. The landlord can kick you out eventually (Term will expire at age 80 or 85) and there’s nothing you can do about it. The landlord can also jack up the rent every few years (IE: premiums increasing) and if you sell it (cancel the policy) you get nothing back…just hand back the keys and they thanks for your time.
Whole life is like buying a house. It’s a more suitable long term solution. Yes, it’s a little more money, but you never have to worry about getting kicked out, or the rent going up. You also build up equity (cash value) so if you do decide to move on, you’ll get something back out of it in the end.
And for the Buy Term and Invest the Rest folks – it’s a good stategy in theory, but it’s not suitable for everyone and often doesn’t work out as planned. People sometimes aren’t disaplined or knowledgable enough to invest the rest, do it right and leave it there. It should not be preached as a one size fits all solution because it clearly isn’t.
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life insurance?
my husband and i have been talking about trying for our second child in the next year and i have a question. we are only 21 and make about ,000/yr.
im wondering about life insurance. i am a stay at home mom and my husband and i both think that its best that i stay home with the son that we have now(and any future children) as opposed to daycare. i want to be more responsible as we progress and make the big step of having another child. we live comfortably but dont have any money put back, as we just bought our first house and that took up alot of our savings(we didnt have too much to begin with).
i want to take out a term life insurance policy that will allow me to recieve a sum of at least 0,000 were anything to happen to my husband. i just want it for about 7-9 years. how do i go about doing this? what should something like this cost my husband and i per month?-
Bradley S
It’s great that you’re looking out for the little one(s), because the whole point of life insurance is to make sure you and your child–or children, if you get there–can maintain your lifestyle for a period of time, should your spouse die prematurely. You probably want enough insurance to replace his lost income for 5-7 years (and vice versa). So you’re talking in the neighborhood of $300,000 to $500,000. If you get term life, it’s cheap. According to the annual study of lowest insurance rates by Insure.com, you and your husband should be able to get a 10-year, $500,000 policy for as little as $155 a year each. A 30-year, $500,000 policy would cost you $325 a year and your husband $395 a year. You probably want a term longer than 10 years, since the kid(s) will still be around in, say, 20 years. To qualify for rates like those you have to be in great health, have a good family history of health, not smoke, and not participate in extreme sports. Any of those risk factors will increase the price. Good luck!
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aaron p
Assuming he’s in decent health, it’ll be dirt cheap – around $20 a month or less. I would really encourage you to look at a higher amount of coverage because $150000 would last you a little more than two years. $750000 managed at 8% would generate $60000. That would be the ballpark I’d start in, but ask around for other ideas.
Also consider insuring his income against being sick or hurt. Disabilities are much more likely prior to age 65 than death.
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magoo&me
Male, age 21, non-tobacco, 150,000 20 year term policy = 20.00 month. Less expensive to purchase a 20 year term than a 10 year term, don’t have a 7-9 year term, just 10, 15, 20, or 30 year.
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b_lucas3311
tough question to answer online. i work for a large insurance company as an independent sales agent…life insurance is a big piece of my job description. your case sounds rather typical of someone with children, although you might be a little on the young side of things! Term insurance sounds right for this, and companies will sell products that have a level premium for anywhere from 5 to 30 years (premium stays the same for 5, 10, 20, or 30 years depending on the product you pick…the longer this time period is, the more it will cost). cost depends 100% on your husband’s age and health characteristics.
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Joey21
I have the exact same family life that you have, You need "Term Life Insurance" if anyone tries to sell you something else you say no otherwise they will take you for there own commission. You need a 20 year or above, and what you need is one to cover up to $250,000. Sounds like a lot but its not if you are dependent on one income. The term is for 20 years but you need to get with your agent every 5 years to reevaluate your husbands health. It should be less then $20.00 a month. Do not get it for less then 20 years, and do not get anything else that is not Term Life Insurance. I hope you do get because it has saved many families that i have known that only had one income.
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insuranceguytx
There are a lot more issues to this question than you think.
How MUCH insurance coverage should you have? $150,000 is NOT a lot of coverage. After you bury him ($10,000), you will have to look for a job and then pay for day care. How much is your mortgage and other debts? Those payments continue after your husband is gone.
How about insurance on you? If you pass away, your husband will have to pay for day care plus take care of trips to the doctor, soccer practice etc, plus a housekeeper.
What if one of you has a long illness where some of the treatments are not covered by your medical insurance?
Who should own the policies? What if you divorce?
Go meet with a financial professional to get some clear answers to this complicated issues.
Good Luck
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Subbu Bubbly
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual’s or individuals’ death or other event, such as terminal illness or critical illness. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. Anyone whose assets equal more than the value of their primary residence should not be compensated beyond that value in case they cannot sell their house. In the case of those whose lost their spouse should be compensated also for one full year the wages of their spouse which would or should be included to avoid lawsuits.) However in the United States, the predominant form simply specifies a lump sum to be paid on the insured’s demise.
As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Insured events that may be covered include:
* * sickness
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide (after 2 years suicide has to be paid in full)(in India after one year Suicide is covered), fraud, war, riot and civil commotion.
Life based contracts tend to fall into two major categories:
* Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
* Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies.Parties to contract
There is a difference between the insured and the policy owner (policy holder), although the owner and the insured are often the same person. For example, if Joe buys a policy on his own life, he is both the owner and the insured. But if Jane, his wife, buys a policy on Joe’s life, she is the owner and he is the insured. The policy owner is the guarantee and he or she will be the person who will pay for the policy. The insured is a participant in the contract, but not necessarily a party to it.
The beneficiary receives policy proceeds upon the insured’s death. The owner designates the beneficiary, but the beneficiary is not a party to the policy. The owner can change the beneficiary unless the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary must agree to any beneficiary changes, policy assignments, or cash value borrowing.
In cases where the policy owner is not the insured (also referred to as the cestui qui vit or CQV), insurance companies have sought to limit policy purchases to those with an "insurable interest" in the CQV. For life insurance policies, close family members and business partners will usually be found to have an insurable interest. The "insurable interest" requirement usually demonstrates that the purchaser will actually suffer some kind of loss if the CQV dies. Such a requirement prevents people from benefiting from the purchase of purely speculative policies on people they expect to die. With no insurable interest requirement, the risk that a purchaser would murder the CQV for insurance proceeds would be great. In at least one case, an insurance company which sold a policy to a purchaser with no insurable interest (who later murdered the CQV for the proceeds), was found liable in court for contributing to the wrongful death of the victim (Liberty National Life v. Weldon, 267 Ala.171 (1957)).
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dwp_ins@verizon.net
Because rates vary so much from one company to another the key is to get as many quotes as possible from various companies.
There’s a free on-line service that can help you at
http://www.kqzyfj.com/click-2952034-10392698You fill out one simple on-line form and they provide you with multiple quotes from several companies. This beats calling agent after agent only to get quotes from the same insurance companies.
Hope this helps!
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Richie Rich
If you go by the standard 8 – 10 times yearly income, you would need around 500k-600k on him and about 300k-400k on you. To replace your income would be around 30k-40k per year. Just because you don’t bring any in, does not mean you don’t make any.
I would suggest a 30 year term since you probably got a 30yr mortgage.
Get 10k for the kids just in case you happen to be that one soccer mom that gets killed on the highway with her kids.
After you get the quote for all of that, look at what you can afford and drop it down to that. In tight budget cases, it is more important to have insurance than enough insurance. Although if you can afford the full amount, go for it.
This will run you around 60-80/mo if you are in perfect health.
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life insurance?
my husband and i have been talking about trying for our second child in the next year and i have a question. we are only 21 and make about ,000/yr.
im wondering about life insurance. i am a stay at home mom and my husband and i both think that its best that i stay home with the son that we have now(and any future children) as opposed to daycare. i want to be more responsible as we progress and make the big step of having another child. we live comfortably but dont have any money put back, as we just bought our first house and that took up alot of our savings(we didnt have too much to begin with).
i want to take out a term life insurance policy that will allow me to recieve a sum of at least 0,000 were anything to happen to my husband. i just want it for about 7-9 years. how do i go about doing this? what should something like this cost my husband and i per month?-
Bradley S
It’s great that you’re looking out for the little one(s), because the whole point of life insurance is to make sure you and your child–or children, if you get there–can maintain your lifestyle for a period of time, should your spouse die prematurely. You probably want enough insurance to replace his lost income for 5-7 years (and vice versa). So you’re talking in the neighborhood of $300,000 to $500,000. If you get term life, it’s cheap. According to the annual study of lowest insurance rates by Insure.com, you and your husband should be able to get a 10-year, $500,000 policy for as little as $155 a year each. A 30-year, $500,000 policy would cost you $325 a year and your husband $395 a year. You probably want a term longer than 10 years, since the kid(s) will still be around in, say, 20 years. To qualify for rates like those you have to be in great health, have a good family history of health, not smoke, and not participate in extreme sports. Any of those risk factors will increase the price. Good luck!
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aaron p
Assuming he’s in decent health, it’ll be dirt cheap – around $20 a month or less. I would really encourage you to look at a higher amount of coverage because $150000 would last you a little more than two years. $750000 managed at 8% would generate $60000. That would be the ballpark I’d start in, but ask around for other ideas.
Also consider insuring his income against being sick or hurt. Disabilities are much more likely prior to age 65 than death.
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magoo&me
Male, age 21, non-tobacco, 150,000 20 year term policy = 20.00 month. Less expensive to purchase a 20 year term than a 10 year term, don’t have a 7-9 year term, just 10, 15, 20, or 30 year.
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b_lucas3311
tough question to answer online. i work for a large insurance company as an independent sales agent…life insurance is a big piece of my job description. your case sounds rather typical of someone with children, although you might be a little on the young side of things! Term insurance sounds right for this, and companies will sell products that have a level premium for anywhere from 5 to 30 years (premium stays the same for 5, 10, 20, or 30 years depending on the product you pick…the longer this time period is, the more it will cost). cost depends 100% on your husband’s age and health characteristics.
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Joey21
I have the exact same family life that you have, You need "Term Life Insurance" if anyone tries to sell you something else you say no otherwise they will take you for there own commission. You need a 20 year or above, and what you need is one to cover up to $250,000. Sounds like a lot but its not if you are dependent on one income. The term is for 20 years but you need to get with your agent every 5 years to reevaluate your husbands health. It should be less then $20.00 a month. Do not get it for less then 20 years, and do not get anything else that is not Term Life Insurance. I hope you do get because it has saved many families that i have known that only had one income.
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insuranceguytx
There are a lot more issues to this question than you think.
How MUCH insurance coverage should you have? $150,000 is NOT a lot of coverage. After you bury him ($10,000), you will have to look for a job and then pay for day care. How much is your mortgage and other debts? Those payments continue after your husband is gone.
How about insurance on you? If you pass away, your husband will have to pay for day care plus take care of trips to the doctor, soccer practice etc, plus a housekeeper.
What if one of you has a long illness where some of the treatments are not covered by your medical insurance?
Who should own the policies? What if you divorce?
Go meet with a financial professional to get some clear answers to this complicated issues.
Good Luck
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Subbu Bubbly
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual’s or individuals’ death or other event, such as terminal illness or critical illness. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. Anyone whose assets equal more than the value of their primary residence should not be compensated beyond that value in case they cannot sell their house. In the case of those whose lost their spouse should be compensated also for one full year the wages of their spouse which would or should be included to avoid lawsuits.) However in the United States, the predominant form simply specifies a lump sum to be paid on the insured’s demise.
As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Insured events that may be covered include:
* * sickness
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide (after 2 years suicide has to be paid in full)(in India after one year Suicide is covered), fraud, war, riot and civil commotion.
Life based contracts tend to fall into two major categories:
* Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
* Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies.Parties to contract
There is a difference between the insured and the policy owner (policy holder), although the owner and the insured are often the same person. For example, if Joe buys a policy on his own life, he is both the owner and the insured. But if Jane, his wife, buys a policy on Joe’s life, she is the owner and he is the insured. The policy owner is the guarantee and he or she will be the person who will pay for the policy. The insured is a participant in the contract, but not necessarily a party to it.
The beneficiary receives policy proceeds upon the insured’s death. The owner designates the beneficiary, but the beneficiary is not a party to the policy. The owner can change the beneficiary unless the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary must agree to any beneficiary changes, policy assignments, or cash value borrowing.
In cases where the policy owner is not the insured (also referred to as the cestui qui vit or CQV), insurance companies have sought to limit policy purchases to those with an "insurable interest" in the CQV. For life insurance policies, close family members and business partners will usually be found to have an insurable interest. The "insurable interest" requirement usually demonstrates that the purchaser will actually suffer some kind of loss if the CQV dies. Such a requirement prevents people from benefiting from the purchase of purely speculative policies on people they expect to die. With no insurable interest requirement, the risk that a purchaser would murder the CQV for insurance proceeds would be great. In at least one case, an insurance company which sold a policy to a purchaser with no insurable interest (who later murdered the CQV for the proceeds), was found liable in court for contributing to the wrongful death of the victim (Liberty National Life v. Weldon, 267 Ala.171 (1957)).
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dwp_ins@verizon.net
Because rates vary so much from one company to another the key is to get as many quotes as possible from various companies.
There’s a free on-line service that can help you at
http://www.kqzyfj.com/click-2952034-10392698You fill out one simple on-line form and they provide you with multiple quotes from several companies. This beats calling agent after agent only to get quotes from the same insurance companies.
Hope this helps!
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Richie Rich
If you go by the standard 8 – 10 times yearly income, you would need around 500k-600k on him and about 300k-400k on you. To replace your income would be around 30k-40k per year. Just because you don’t bring any in, does not mean you don’t make any.
I would suggest a 30 year term since you probably got a 30yr mortgage.
Get 10k for the kids just in case you happen to be that one soccer mom that gets killed on the highway with her kids.
After you get the quote for all of that, look at what you can afford and drop it down to that. In tight budget cases, it is more important to have insurance than enough insurance. Although if you can afford the full amount, go for it.
This will run you around 60-80/mo if you are in perfect health.
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life insurance?
my husband and i have been talking about trying for our second child in the next year and i have a question. we are only 21 and make about ,000/yr.
im wondering about life insurance. i am a stay at home mom and my husband and i both think that its best that i stay home with the son that we have now(and any future children) as opposed to daycare. i want to be more responsible as we progress and make the big step of having another child. we live comfortably but dont have any money put back, as we just bought our first house and that took up alot of our savings(we didnt have too much to begin with).
i want to take out a term life insurance policy that will allow me to recieve a sum of at least 0,000 were anything to happen to my husband. i just want it for about 7-9 years. how do i go about doing this? what should something like this cost my husband and i per month?-
Bradley S
It’s great that you’re looking out for the little one(s), because the whole point of life insurance is to make sure you and your child–or children, if you get there–can maintain your lifestyle for a period of time, should your spouse die prematurely. You probably want enough insurance to replace his lost income for 5-7 years (and vice versa). So you’re talking in the neighborhood of $300,000 to $500,000. If you get term life, it’s cheap. According to the annual study of lowest insurance rates by Insure.com, you and your husband should be able to get a 10-year, $500,000 policy for as little as $155 a year each. A 30-year, $500,000 policy would cost you $325 a year and your husband $395 a year. You probably want a term longer than 10 years, since the kid(s) will still be around in, say, 20 years. To qualify for rates like those you have to be in great health, have a good family history of health, not smoke, and not participate in extreme sports. Any of those risk factors will increase the price. Good luck!
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aaron p
Assuming he’s in decent health, it’ll be dirt cheap – around $20 a month or less. I would really encourage you to look at a higher amount of coverage because $150000 would last you a little more than two years. $750000 managed at 8% would generate $60000. That would be the ballpark I’d start in, but ask around for other ideas.
Also consider insuring his income against being sick or hurt. Disabilities are much more likely prior to age 65 than death.
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magoo&me
Male, age 21, non-tobacco, 150,000 20 year term policy = 20.00 month. Less expensive to purchase a 20 year term than a 10 year term, don’t have a 7-9 year term, just 10, 15, 20, or 30 year.
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b_lucas3311
tough question to answer online. i work for a large insurance company as an independent sales agent…life insurance is a big piece of my job description. your case sounds rather typical of someone with children, although you might be a little on the young side of things! Term insurance sounds right for this, and companies will sell products that have a level premium for anywhere from 5 to 30 years (premium stays the same for 5, 10, 20, or 30 years depending on the product you pick…the longer this time period is, the more it will cost). cost depends 100% on your husband’s age and health characteristics.
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Joey21
I have the exact same family life that you have, You need "Term Life Insurance" if anyone tries to sell you something else you say no otherwise they will take you for there own commission. You need a 20 year or above, and what you need is one to cover up to $250,000. Sounds like a lot but its not if you are dependent on one income. The term is for 20 years but you need to get with your agent every 5 years to reevaluate your husbands health. It should be less then $20.00 a month. Do not get it for less then 20 years, and do not get anything else that is not Term Life Insurance. I hope you do get because it has saved many families that i have known that only had one income.
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insuranceguytx
There are a lot more issues to this question than you think.
How MUCH insurance coverage should you have? $150,000 is NOT a lot of coverage. After you bury him ($10,000), you will have to look for a job and then pay for day care. How much is your mortgage and other debts? Those payments continue after your husband is gone.
How about insurance on you? If you pass away, your husband will have to pay for day care plus take care of trips to the doctor, soccer practice etc, plus a housekeeper.
What if one of you has a long illness where some of the treatments are not covered by your medical insurance?
Who should own the policies? What if you divorce?
Go meet with a financial professional to get some clear answers to this complicated issues.
Good Luck
*
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Subbu Bubbly
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual’s or individuals’ death or other event, such as terminal illness or critical illness. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. Anyone whose assets equal more than the value of their primary residence should not be compensated beyond that value in case they cannot sell their house. In the case of those whose lost their spouse should be compensated also for one full year the wages of their spouse which would or should be included to avoid lawsuits.) However in the United States, the predominant form simply specifies a lump sum to be paid on the insured’s demise.
As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.
Insured events that may be covered include:
* * sickness
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide (after 2 years suicide has to be paid in full)(in India after one year Suicide is covered), fraud, war, riot and civil commotion.
Life based contracts tend to fall into two major categories:
* Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
* Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies.Parties to contract
There is a difference between the insured and the policy owner (policy holder), although the owner and the insured are often the same person. For example, if Joe buys a policy on his own life, he is both the owner and the insured. But if Jane, his wife, buys a policy on Joe’s life, she is the owner and he is the insured. The policy owner is the guarantee and he or she will be the person who will pay for the policy. The insured is a participant in the contract, but not necessarily a party to it.
The beneficiary receives policy proceeds upon the insured’s death. The owner designates the beneficiary, but the beneficiary is not a party to the policy. The owner can change the beneficiary unless the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary must agree to any beneficiary changes, policy assignments, or cash value borrowing.
In cases where the policy owner is not the insured (also referred to as the cestui qui vit or CQV), insurance companies have sought to limit policy purchases to those with an "insurable interest" in the CQV. For life insurance policies, close family members and business partners will usually be found to have an insurable interest. The "insurable interest" requirement usually demonstrates that the purchaser will actually suffer some kind of loss if the CQV dies. Such a requirement prevents people from benefiting from the purchase of purely speculative policies on people they expect to die. With no insurable interest requirement, the risk that a purchaser would murder the CQV for insurance proceeds would be great. In at least one case, an insurance company which sold a policy to a purchaser with no insurable interest (who later murdered the CQV for the proceeds), was found liable in court for contributing to the wrongful death of the victim (Liberty National Life v. Weldon, 267 Ala.171 (1957)).
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dwp_ins@verizon.net
Because rates vary so much from one company to another the key is to get as many quotes as possible from various companies.
There’s a free on-line service that can help you at
http://www.kqzyfj.com/click-2952034-10392698You fill out one simple on-line form and they provide you with multiple quotes from several companies. This beats calling agent after agent only to get quotes from the same insurance companies.
Hope this helps!
-
Richie Rich
If you go by the standard 8 – 10 times yearly income, you would need around 500k-600k on him and about 300k-400k on you. To replace your income would be around 30k-40k per year. Just because you don’t bring any in, does not mean you don’t make any.
I would suggest a 30 year term since you probably got a 30yr mortgage.
Get 10k for the kids just in case you happen to be that one soccer mom that gets killed on the highway with her kids.
After you get the quote for all of that, look at what you can afford and drop it down to that. In tight budget cases, it is more important to have insurance than enough insurance. Although if you can afford the full amount, go for it.
This will run you around 60-80/mo if you are in perfect health.
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Well, for the baby, you should check with the state Children’s Health Insurance Program. But for you, it’s going to be about $250 a month, unless you want a major medical policy – with a high deductible – then it will be about half that.