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Forum
-> Household Management
-> Finances
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amother
White
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 Thu, Dec 01 2016, 7:33 pm
Why would my husband have to (or want to) pay $50 k for life insurance, in addition to monthly fees I imagine?
He did not want to explain it to me as he doesn't fully understand it.
(Don't worry, he will find out before he pays, but I'm very curious about this)
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jeweled
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Thu, Dec 01 2016, 7:39 pm
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How much is the policy for??
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amother
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Thu, Dec 01 2016, 7:46 pm
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jeweled
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Thu, Dec 01 2016, 7:56 pm
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I pay $14 a month for a 500k policy. That sounds really really steep.
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tichellady
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Thu, Dec 01 2016, 8:07 pm
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I assume it's whole not term but that still sounds very high. does he have serious medical conditions?
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amother
White
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Thu, Dec 01 2016, 8:55 pm
He has colitis.
He is younger than 30.
It sounds as if he doesn't HAVE to put that money down, but he might want to. Does this sounds normal?
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cnc
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Thu, Dec 01 2016, 9:01 pm
| jeweled wrote: | | I pay $14 a month for a 500k policy. That sounds really really steep. |
That's for term.
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amother
White
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Thu, Dec 01 2016, 9:09 pm
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Can it be that he wants to buy single premium whole life insurance? Would 50 k for a million dollar policy make sense?
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33055
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Thu, Dec 01 2016, 9:18 pm
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Why wouldn't you get quotes from 3 places? Insurance can often be discounted from the stated price.
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amother
White
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Thu, Dec 01 2016, 9:26 pm
I did some online research, seems like it's most likely for single premium insurance.
And it's probably not for $1 million, probably less than that- maybe $500 k, just my guess.
Thanks though!
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Maybe
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Thu, Dec 01 2016, 9:35 pm
chovos halevavos shaar habitachon
Air is of the utmost importance it FREE, basic food is cheap luxuries are expensive
Term life for young parents, is is important & cheap,
Whole life, & any life insurance for older people is not as crucial & is expensive
A common mistake is high insurance on father/breadwiner & minimal or nothing on SAHM,
How much can it cost to hire domestic help 8 am to 8 pm
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amother
White
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Thu, Dec 01 2016, 9:39 pm
| Maybe wrote: | chovos halevavos shaar habitachon
Air is of the utmost importance it FREE, basic food is cheap luxuries are expensive
Term life for young parents, is is important & cheap,
Whole life, & any life insurance for older people is not as crucial & is expensive
A common mistake is high insurance on father/breadwiner & minimal or nothing on SAHM,
How much can it cost to hire domestic help 8 am to 8 pm |
Thank you for your unsolicited advice.
(Read up about single premium life insurance. It's basically just investing your money with the life insurance company , instead of investing it or holding it elsewhere.)
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