So you want to know about life insurance? What? No?

In the interest of driving more traffic my way, I thought I’d write about my industry.

Funny to call it industry, or mine, for that matter.  I’m not at all attached to it. Its just a job.  And NO one asks me about it.

I’m also not a salesperson. No offense, but most I’ve known are kind of slimy…and I don’t like slime.

But just in case you were wondering, here are some thoughts to ponder.  (Oh!  legal disclosure: I’m NOT a licensed agent!)

Are you a parent w/ under age children?  Then you need life insurance.
Are you a stay at home mom?  Then you need life insurance b/c Hubs will have to pay someone to take care of the little darlings if you are no longer with us.
Are you a non-working spouse that handles all the domestic responsibilities of managing your home?  Paying the bills, tracking the interest rate on your mortgage, being available for the business hours only repair man?  Then you need life insurance (a small one at least!).
Do you care for a disabled or elderly family member? Then you need life insurance.
Do you want to make a post mortem charitable donation?  It can be done thru life insurance.

Now for those of you who have insurance, do you have enough?  Are the premiums big enough to choke a horse? Does your agent represent only one insurance carrier?  If you answered yes to the last two questions, it might be time to look at your policy a little closer, maybe see if it can be replaced with something less expensive.

Just a few more thoughts:   If you work, and you’re under 50 years of age, you can qualify for coverage equal to 20 times your income.  Over 50?  About 10 times your income.  Think of the insurance as a replacement of your income.
The older you are the more expensive life insurance gets.  To give you an idea of cost, a healthy female, mid 30s can get $1M of coverage for 20 years for about $500/year.  For a 46 year old female, that same policy may cost as much as $1200/year.

Got more questions?  I’m happy to take them in the form of comments or emails.

5 Responses to So you want to know about life insurance? What? No?
  1. Gorilla Bananas
    January 18, 2010 | 5:31 pm

    I've got two questions.

    (1) Can you buy life assurance for a non-smoking gorilla?

    (2) Have you ever dated an actuary?

  2. The mad woman behind the blog
    January 18, 2010 | 5:37 pm

    Hey GB:
    That pic looks smokin' hot, that might be hard to prove the non-smoking status.

    And ever since "Along came Polly" I lost my taste for actuaries…I think it was a pretty good portrayal, unfortunately.

  3. Blissed-Out Grandma
    January 18, 2010 | 5:52 pm

    Hubby and I have it, but your post reminds me to wonder whether our daughter and her husband do. It's easy to overlook!

  4. Sam
    January 19, 2010 | 2:25 am

    Oh,you've got me thinking now. Definitely need to get on this. Thanks for stopping by today.

  5. Red Shoes
    January 19, 2010 | 9:51 pm

    Hey you… what do you do in the insurance industry? I've taught some insurance/ life insurance courses in our finance curriculum here… and sold some life insurance in my career as a stock broker…


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