Reading a few posts where widows talk about having to watch their finances since their spouse died made me think about Life Insurance. I am 82 years old and have $75,000 of Paid Up Group Term Insurance despite being single and no one financially dependent on me. The most life insurance I ever had was $500,000 when I was married and raising a family and had $150,000 on my wife at that time. When my first wife died in 1989 she had $75,000 on her life with me as the beneficiary. I know all the excuses but I still can never understand some folks reluctance to purchasing ADEQUATE Life Insurance. My adult married grand mother daughter is my sole heir and primary beneficiary of my insurance. http:www.thoughtsandtravels.blogspot.com
I don't have life insurance because I don't need it, my husband had some but I used that up because I had no income for about 8 years... My kids all have life insurance and it's a very big number...more than a million, but that's really not all that much when you consider their expenses. In fact they have all kinds of insurance and it isn't cheap...malpractice, also their hands, etc. I forget all of it.
I have a Life Insurance policy too Ren. I wanted to leave my daughters and grandkids a little something when I leave my earthly home but figured cash was the best thing...that way they can use it the way they want, not how I want although part of it is set aside for them to spend some time at the beach and toss my ashes to the wind.
No life insurance for us. My husband has some long as he works where hes at. My kids got all I had to give long time ago. Personal items will be distributed to them...I doubt any wealth will come of it.
Wife has Life Insurance, but I don't........at least none that I know of. We've borrowed from her Life Insurance before, but now that she gets her SS each month, don't have to do that anymore.
We have life insurance. I don't remember how much now, but enough so that one or the other of us will have time to get things in order before being hit by a loss of the other's income.
Because my husband is a smoker his life insurance policy costs us alot more and it is for less than mine is. The Insurance man told me if my husband could quit smoking for a year then his policy costs would go down too and he would be able to get a higher policy too. We both have enough coverage though to cover the necessities and leave a little for our children.
I have a $100,000 policy which I bought soon after I retired. It will no longer be affordable after I turn 77 but will not be needed. I se up my retirement pension so that my wife will still receive the full amount if I die. Our house is paid for, we have money in investments so she will be financially secure.
I don't think my term life policy will expire before I do but if it does my daughters want to take over paying the higher payments and that is fine with me.
25 Years ago I paid $1,200 USD that GTARANTEES that my body will be picked up where ever I die, cremated ASAP & the Cremated Remains shipped or airmailed to my daughter. I carry a tag to this effect with a special number to call.
Living in a third world countryside it is about $15 for a death certificate a casket $100 and up the funeral is in your house with all the neighbors chip in to help make a meal for the people attending. The neighbors got to the crematory and dig the hole. Later they take the casket to the crematory and place it in the hole. Total cost death certificate,casket, and a meal for the attendees. When a Haitian dies here it is a big celebration they think differently than us they cry at a birth and celebrate at death. I goes back to the slave idea of born into slavery and when you die your free.
"All my bags are packed I'm ready to go ..." - John Denver I prepaid my cremation and had a stone set on the family plot a couple of years ago. I have a card with the number to call in my wallet and the documents in my Things You Need To Do When I Croak manual.
Yup. If the VA and my insurance doesn’t cover everything, we have a back yard and I bought a shovel a year or so ago.