Among Friends

[SeaMaiden]

Do you have it? Many people do not I guess. My husband and I both have it and we have no children. We always have had Life insurance as long as we have been married (35 years).  

[Mom2Dogs]

We have life insurance...also no kids.  My dh had 2 children from a previous marriage but they are adults now.

[RoughDraft]

No.  DH and I had annuity policies that were cashed in and invested elsewhere years ago. 

[SeaMaiden]

I imagine if you are super wealthy you woukd not need it. I know my last employers were Millionares  And did not have it.

[GCR18]

I have it through work.  It's one of our benefits.  2x your salary.  If you want to contribute, you can go up to 3x.  I don't have kids, so I just have the 2x.

[Desertdi]

Yes..........and the beneficiary knows.    I don't want the proceeds being overlooked and going to the State..............

[millieshops]

No one depends on me.  No reason to pay for life insurance.

[Snowpuppy]

I have term life thru work. Enough to pay off a mortgage + any final expenses so I won't stick DS with any bills.

When my mortgage is paid, then I'll drop the amount of the policy. Till then, it's in place if needed.

[Tinkrbl44]

Yes, of course.

[Lipstickdiva]

I have enough to pay for a funeral and that is all.  I don't have kids and my DH works. We have no mortgage.  I don't need to pay for a huge insurance policy just for DH to inherit a large sum.  That doesn't make sense.

I do have a word of advice.  If you do have any kind of life insurance, make sure the beneficiary knows.  Insurance companies are getting increasing more difficult to deal with when a policy owner dies.  They will not release beneficiary information to attorneys or estate representatives.   They claim they will contact the beneficiaries to let them know.  However, if the beneficiary information is old, they aren't putting a ton of effort into finding current information therefore, they are holding on to the money and eventually it is turned over to the state as a unclaimed fund.