life insurance - Page 4

SeaMaiden · ‎03-10-2010

We receive offers for AAA life insurance...etc all the time... I see those commercials on TV.... and never really understand what exactly you are paying for and what the people listed as beneficiaries are going to receive from it.

After we retired, Our financial advisor told us we did not need to have life insurance... we had enough saved away to take care of everything... and we have no dependents....so we have not bought any.

I guess as another poster said... most people with a lot of life insurance usually end up on Lifetime as a movie or on the show SNAPPED..... So if my husband suddenly takes out a million dollar policy on ME... I will know whats up.

haddon9 · ‎03-09-2010

@decaf wrote:
A while back I had a friend with two kids who had no means to support them if her husband died. She never even thought about that until she heard of aterrible story where a woman with children was left to struggle after her husband died, she was left with a pile of bills and was forced to sell her nice home, she couldn't afford it. They moved in with her parents.

Right there and then my friend insisted her husband buy life insurance. About six short months later her husband was on a business trip to Calif and died from a massive heart there. Her life would have taken a really terrible turn if they didn't have insurance.

I don't understand @Abrowneyegirl what your neighbors think by' the govt provides the rest'. Social security? Not anywhere near enough in today's economy.

What a sad story! Thank goodness she got the life insurance. It's hard enough to get by without a loved one but to become suddenly poor as well ....I can't imagine. We always had a good amount of term life insurance....just in case.

I also don't understand what they mean by the "government provides"...what does the government provide?

Stray · ‎04-20-2013

I worked for an insurance company and am covered 2x my last salary. We have no debt and no children. After I retired, I took out a small policy to cover funeral expenses for my husband as he is not covered any longer. Many of my age group are “insurance poor”. I always had life insurance. My first paycheck, my father had a John Hancock agent in our living room & was issued my premium book.