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Thread: Life Insurance

  1. #1
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    Life Insurance

    Married, have a kid, am 28 years old, own two companies and recently got life insurance.

    Curious what others had done. I have a buddy that works at Northwestern Mutual so I figured if I had to give the commission to anybody, might as well go to a friend.

    Got 500k term for each my wife and I as well got my son a whole life policy with some future cash values.

    Considering extending the amount for myself or even getting whole eventually to cover my business assets.

    We don't really have any debt other than about 80k left on the house, which I could potentially pay off in two years if I really had to.

  2. #2
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    Not married yet, no kids..therefore don't need it yet. If I pass away unexpectedly my parents can use what I have in savings to make the necessary arrangements.

  3. #3
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    Not married and no kids, but I have 125,000 in life insurance. My family wouldn't be able to afford to bury me, plus its like 6 bucks a month for 100k. The 25k came included when I got health insurance. Other then burial cost most of it is left to my nephew for college.

  4. #4
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    I have $125,000 which I have split between my mother and fiance. It really makes me feel better knowing that if something happens to me that my family will be able to live a better life.

  5. #5
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    I'm in the process of getting policies for my wife and I right now- probably will go with 250k each, not a huge amount of debt- might get some whole life for the kids, not sure though

  6. #6
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    Quote Originally Posted by WorldChamps1908 View Post
    Not married yet, no kids..therefore don't need it yet. If I pass away unexpectedly my parents can use what I have in savings to make the necessary arrangements.
    This. I've got enough **** to pay for, life insurance is the last thing I need.

  7. #7
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    Ive only got 100K on me but I also have the insurance that pays off my house if I die so... and all my cars are paid for along with everything else. My only debt is my house.

  8. #8
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    Ive only got 100K on me but I also have the insurance that pays off my house if I die so... and all my cars are paid for along with everything else. My only debt is my house.

    Not to mention I have 2 policies on my son that build cash value that he can cash in if he wants when he is 21. They double at 18 but I dont remember the dollar amount. Its around 25 K

  9. #9
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    I pay through my job. My dependent gets 5x my salary which equates to $425,000 if I bite the dust.


  10. #10
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    Quote Originally Posted by DieHardColtsfan View Post
    I pay through my job. My dependent gets 5x my salary which equates to $425,000 if I bite the dust.
    Wow. Can I be your dependent?
    TAKE PRIDE

  11. #11
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    I'm immortal so it'd be kind of pointless for me

    Coming soon to a TKRO stadium near you

  12. #12
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    I have 2 dairy queen coupons and some cool stickers.

  13. #13
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    Quote Originally Posted by WorldChamps1908 View Post
    Not married yet, no kids..therefore don't need it yet. If I pass away unexpectedly my parents can use what I have in savings to make the necessary arrangements.
    You must have a nice savings account lol. Wish I could save money easily.

  14. #14
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    Dear god Jeffy what have you done! You have Insurance brokers on our site!

  15. #15
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    Quote Originally Posted by bosox3431 View Post
    You must have a nice savings account lol. Wish I could save money easily.
    Yeah I have been throwing money in there from every paycheck I have ever gotten since my first job at 16. Now I'm 28. Don't get me wrong though as I get older it's a lot harder to save..so many damn bills..

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