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would you consider getting life insurance?
Posted 8/22/13

Backflip_2003 wrote:




The first person was talking about the debts they would have from burying you, but I don't see how they got 15k + 30k= 60K so I would not really trust their numbers...

Anyways this covers the basics of what happens to your debts when you die: http://www.legalzoom.com/wills-faq/assets-debts-wills.html


Look again. The 30k is from the college then he said 15k for the funeral + other expensive medical related charges like the autopsy and such which would bring the death cost up to 30k. 30k + 30k = 60k.
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Posted 8/22/13
Life insurance is important, especially once you have a family.

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26 / M / netherlands
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Posted 8/22/13
i already have it
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46 / M / Bay Area, CA, USA
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Posted 8/22/13
As others have already written, life insurance is not so much for your own direct benefit, but rather for any dependents you might have, that they not be unduly burdened should you die. It's certainly not just for the rich-- who indeed may be the very ones who really don't need it at all as they can leave the wealth they already own (and this relates to living trusts and wills and such-- something I myself should probably get working on-- after all, how many of us can truly know the exact circumstance of our own passing?). If you don't have any dependents, you could likely do without it too.

Insurance sellers likely get some sort of commission, so they'll probably continue to bother you (and the rest of us) every once in a while no matter what! :-)
Posted 8/23/13

Backflip_2003 wrote:
The first person was talking about the debts they would have from burying you, but I don't see how they got 15k + 30k= 60K so I would not really trust their numbers...

Anyways this covers the basics of what happens to your debts when you die: http://www.legalzoom.com/wills-faq/assets-debts-wills.html


That's how I believe it to work as well, at least in regards to legal loan services.

They will take whatever's in my bank account to repay the debt and/or sell my assets. But that debt doesn't actually go to my family...
Posted 8/24/13
I have life insurance because of my mom...I'm sure I will die before her so I want to leave her something (I'm so young with a lot of health problems and she's 50 with a great health, thank God), you should have life insurance for the people you love who depends on you.
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Posted 9/1/13 , edited 9/1/13
If you don't have a family of your own to protect, I think getting a life insurance would be the least thing to do but if you have a family to protect then you should consider getting one.
Posted 9/1/13
It's often paid for by companies you work for in the US. Can really help with expenses.
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Posted 9/1/13
Somewhat unrelated, but should it cover suicide? I figure it's a bit like crashing a car that's going to break down anyway, except you don't really collect on the benefits. But on the other hand, it's also (somewhat) comparable to dying by disease, and it'd be kind of a bummer (understatement) to learn that in addition to a loved one not wanting to exist anymore, you're going to be out at least a few grand as a result. Just one of those curiosities that get me thinking.

As for whether I'll be getting it, I'm thinking that it'd probably be a pretty good idea if I get a family/career that would leave people I care about in a bind when I die. At the moment, that's not too much of an issue, but there are definitely circumstances in which I'd get it.
Posted 9/1/13
I have life insurance.
Didn't even think twice about getting it.
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30 / M / Atlanta, GA
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Posted 9/1/13
I think at least enough to cover actions, postmortem and to cover salary for a time. Burial and that sort of thing. But it's not the kind of thing someone single would really worry about. Moreso if you get married or start a family.

The other thing alot of you seem to be missing is that the other part the insurance covers is the missing income that comes along with losing a spouse. If I'm making 2K a month and suddenly that's gone that's going to be a world of hurt for the surviving spouse. The insurance also helps cover that missing income until transitions can be made.
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35 / M / England
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Posted 9/1/13
I don't have any dependents, so at the moment life insurance would be a waste of money for me. If I ever start a family I'll definitely get some though.

For the time being, I have a death in service benefit as part of my employment contract which will more than cover any funeral expenses etc.
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25 / M / Missouri, United...
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Posted 9/1/13
Meh probably not, I don't have a family that relies on me and even if I did I wouldn't want to give them a reason to kill me.
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