Why does my wife want me to buy more life insurance?

Answer 1

Because its scary to think about being without you and your money and she wants to make sure she will be ok. Or she could be planning on killing you.

Answer 2

There could be several reasons, none of which have to do with some sinister plan to have you take a dirt nap.

#1 Ask her why...

I would imagine that she has financial concerns.

If both of you don't agree with each other, see a NON-insurance agent, but rather a certified financial planner. A FP should be able to correctly assess what your needs are as a family. Many times term life insurance is a waste, compared to other financial vehicles.

Peace and good luck.

Answer 3

Good question. I would ask her why she wants you to buy more life insurance. Open up a discussion about it when the two of you have time alone to discuss it.

There are many good reasons people would buy more life insurance. Some of the reasons include the following:

Many consumers and financial experts agree that life insurance can provide financial security and protection for your loved ones at a time when they need it most.

Life insurance can provide a secure foundation for your financial planning program. Life insurance provides much needed financial security in several situations, including:

Providing replacement income for your dependents
If people (family members, friends, etc.) depend on your income, life insurance can replace your income for them if you die prematurely. A common example of this scenario is parents with young children. This also applies to couples for which the survivor would have financial difficulties if they no longer had the income of their partner. Also, dependent adults, such as your parents, siblings or adult children who rely on you financially for support.

To pay your final expenses
Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.

Create an inheritance for your heirs
Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.

Pay federal and state Death Taxes
Life insurance benefits can pay estate taxes so that your heirs will not have to liquidate other assets or take a smaller inheritance. Changes in the federal “death” tax rules between now and January 1, 2011 will likely lessen the impact of this tax on some people, but some states are offsetting those federal decreases with increases in their state-level “death” taxes.

Charitable Contributions
By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums.

Create Savings for your Spouse or Family Members
Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax deferred (and tax exempt if the money is paid as a death claim).
There are many reasons why we need life insurance. It’s important to consider your own personal situation. Decide why you need life insurance and who you want to provide for with your policy.

Also, consider the right amount of coverage to provide the financial security your family deserves. Remember, buy the amount of life insurance you can afford, that fits in your budget – so you can continue to pay the policy.

And, get a life insurance policy from a highly rated company. Usually, a life insurance company with a financial rating of “A” or better is considered to be a financially sound company.

Term life insurance offers you the maximum amount of life insurance protection at the lowest rates available. Level term life insurance is the most common type of term insurance purchased.

I hope that helps! Take care and remember, just come right out and ask your wife about it.

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Answer 4

Could be many reasons. Maybe she's just feeling inssecure about something. Are either one of you sick? Do you have children? She may be thinking of everyones future when asking you to do this. Just making sure your kids won't have to pay if and when something happens.
Just relax. If you have a good relationship just ask her what the reason is. I'll bet there is a good explanation and you'll feel silly for being so worried.

Answer 5

There's a lot of missing information. My husband and I don't even have insurance. If my husband had insurance and I were to ask him to raise the amount or "buy more", I would do so because his father died of cancer and fear of his getting it would drive me to look for "security" or insurance. Do you have a a "Killer disease" in your family, do you smoke, are you overweight...?

Answer 6

She's going to take you out and collect the insurance money

Answer 7

She either preparing for the future or she plans to off you and claim the insurance.

Answer 8

Watch Forensic Files on Court TV, and you'll find out why.

Answer 9

Perhaps it is for taking care of debts and raising the kids in case of your death. You should want your family to be taken care of in the event of a sudden death.

Answer 10

Because there is about a 90% chance she will live longer than you