We own our home and have approximately $75 000 invested.
2007-05-22 08:12:27 · 31 answers · asked by LuckyO 2 in Business & Finance ➔ Insurance
YES!!!
You ALWAYS need life insurance, especially now!!
I'm 23 and my husband is 30; we have a 2 year old and one on the way. Do we have insurance? YES!!
If someone were to get injured or killed, you WANT to make sure the kids and the surviving spouse is taken care of.
Also, create a will.
2007-05-22 08:15:50 · answer #1 · answered by FaZizzle 7 · 0⤊ 0⤋
It all depends...If you or your spouse passed away tomorrow, will that make a dent in the finances of the surviving spouse and for your 3 kids? If the answer is yes, then you should strongly consider getting a policy. Life insurance can be used to help pay for estate taxes as well. If your asset is over 100k you may want to consult a lawyer and create a trust. There are so many issues that need to be brought up; unfortunately this is not a forum to do it. My best advice to go and consult a financial advisor. A great place to start on on the JD Power and Associate website--they rank financial brokerage firms.
2007-05-22 14:43:21 · answer #2 · answered by Tuan 1 · 0⤊ 0⤋
Compare free quotes from dif companies at http://help.cheap-insure.info/-ltiqiSX113
RE My husband and I have 3 kids and we're in our early 50's. Do we need life insurance at this point?
We own our home and have approximately $75 000 invested.
2014-10-03 04:50:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I recommend you this site to get quotes - COVERCOMPARE.INFO-
RE My husband and I have 3 kids and we're in our early 50's. Do we need life insurance at this point?
We own our home and have approximately $75 000 invested.
2014-09-08 21:47:52 · answer #4 · answered by Dalli 1 · 0⤊ 0⤋
I recommend that you try this site where you can get rates from different companies: http://INSUREFOREVERYBODY.INFO/index.html?src=3YArtjcfYL32
RE :My husband and I have 3 kids and we're in our early 50's. Do we need life insurance at this point?
We own our home and have approximately $75 000 invested.
Follow 32 answers
2016-11-26 17:41:36 · answer #5 · answered by ? 6 · 0⤊ 0⤋
Are the kids grown and on their own, or still at home and/or in school? If they're not able to be self-supporting yet, some term life insurance could make sense.
2007-05-22 08:30:19 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
If your breadwinner dies, how will your children be fed, educated and sheltered? How will the income be replaced? If the other spouse has to work, how will childcare expenses be paid?. If you had about $3,000,000 invested these would be moot points, but $75K sounds like not enough. You need enough insurance to cover the kids until they're college age. Shop for Term... it's the way to go.
2007-05-22 08:22:20 · answer #7 · answered by squeezie_1999 7 · 0⤊ 0⤋
You should've bought life insurance when you were both younger. Now you will be a much higher premium. And yes, of course you need life insurance.
2007-05-22 08:15:55 · answer #8 · answered by kja63 7 · 0⤊ 0⤋
Picture this: you have to stay home to take care of the kids and your husband has died. Who will take care of you? Do you want the state to? $75,000 doesn't last long at all. Do you want your kids to go to college, and graduate without a student loan debt?
If you get sick, will you have paid up health insurance? Will there be deductibles?
2007-05-22 08:16:57 · answer #9 · answered by Venita Peyton 6 · 0⤊ 0⤋
Yes you need life insurance. What happens if you die in a firery crash! That's why they call them accidents, because you dont expect them to happen. Funerals are expensive. Also, it would be a good idea to get a will and a living will.
2007-05-22 08:19:00 · answer #10 · answered by hkychick10 2 · 0⤊ 0⤋