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> If your spouse passed away tomorow, would you be financially ok?
 
Would you be financially ok
Yes, for a little while anyways [ 10 ]  [21.28%]
Yes, we have life insurance [ 29 ]  [61.70%]
We would be up the creek without a paddle [ 6 ]  [12.77%]
I have no idea [ 2 ]  [4.26%]
Total Votes: 47
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mysweetpeasWil&Wes
Posted on Mar 6 2008, 03:19 PM
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I wouldn't make nearly as much as DH does, so our lifestyle would change, but we would be okay because we are good about paying off debt. Plus we have family to help. Scary thought though. sad.gif


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sparkys2boys
Posted on Mar 6 2008, 05:10 PM
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Yes, me and the kids would be fine to. What a scary thought thoug sad.gif h


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Cece00
Posted on Mar 6 2008, 06:04 PM
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Yeah, we'd be good.

DH has life insurance. We need more, but for right now, we have enough. Plus I am working now, so I could pay the bills.

And I have my parents, who I know would help out, and they are financially set, so I dont worry about it.

Not to mention I know my inlaws would help if need be.


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Brias3
Posted on Mar 6 2008, 06:24 PM
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We do have life insurance policies and are fortunate to have plenty saved due to the fact that so many expenses were covered by DH's company for many years that we were overseas, but I wouldn't be able to rely on it forever. I'd definitely be able to make a decent living and support a family, but we wouldn't be near as comfortable as we are now.


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TrulyBlessed
Posted on Mar 6 2008, 06:40 PM
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I would be screwed and I should know better. I lost my dad back in 2004 and since he wasn't married, I was next of kin and had to handle his estate with no will. His funeral expenses were just under $11,000.00. DH and I have talked about writing up a will, but I don't even know how much that costs or where to start.
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Brias3
Posted on Mar 6 2008, 07:26 PM
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QUOTE (TrulyBlessed @ Mar 6 2008, 06:40 PM)
I would be screwed and I should know better. I lost my dad back in 2004 and since he wasn't married, I was next of kin and had to handle his estate with no will. His funeral expenses were just under $11,000.00. DH and I have talked about writing up a will, but I don't even know how much that costs or where to start.

We always just do our will through our lawyer. It's relatively inexpensive and very worth having one.

I do know you could also get information on writing a free will online. There are some downloadable templates that you can fill out. When signed, these docs can at least hold you over (and are a good idea to have) until you get an official one drawn up.


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redchief
Posted on Mar 6 2008, 07:50 PM
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Both of us have life insurance. Life would cease being fun though.


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HuskerMom
Posted on Mar 6 2008, 08:24 PM
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Yes me and the kids would be fine. Dh just got life insurance last week. Dh and I have sat down and talked about what I would need to do if something were to happen to him so I'd have some sort of plan.


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MyBlueEyedBabies
Posted on Mar 6 2008, 09:00 PM
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We have life insurance so would be okay for a while.

I believe his insurance would last for about 5-10 years mine would pay off any debt and help with babysitting for a while....


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Boo&BugsMom
Posted on Mar 7 2008, 08:05 AM
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QUOTE (lisar @ Mar 6 2008, 10:54 AM)
My dh is worth more dead than he is alive biggrin.gif biggrin.gif . And I tell him that all the time playing around.

I always threaten Troy that I'll push him down the stairs. laugh.gif

I'd be more worried about our emotional state than our financial state. Money comes and goes and I believe God will always provide it for us even when money seems tight. I'm confident and faithful in that, however, Troy being gone is not something I think I could take. With or without life insurance, I'm not worried about $$$, I'm more worried about carrying on without the man I love and father to my children.

On the original question...we'd be fine for awhile, but I'd eventually have to work full time again and probably sell our house or heaven forbid...move in with my parents.


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mummy2girls
Posted on Mar 7 2008, 08:26 AM
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id be ok. Because i have been alone with jenna for over 4 years i did everything financially and such. I paid all the bills, etc. yes it will hard for sure expecially because there woudl be another child in our life. But i feel i will be ok. Tight for money but ok.


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bawoodsmall
Posted on Mar 7 2008, 09:09 AM
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I think we would financially but not mentally. We both have good life insurance policies in place. The house would be paid for and Dh has a pension through work. We do need to talk about what would happen though. I would like to have a living will in place.


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lovemy2
Posted on Mar 7 2008, 09:21 AM
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We would be fine but would more than likely sell our house only because it would be too much for me to maintain - but I hope to never have to make those decisions - although with his job you never know.... sleep.gif


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My2Beauties
Posted on Mar 7 2008, 09:53 AM
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QUOTE (Boo&BugsMom @ Mar 7 2008, 11:05 AM)
QUOTE (lisar @ Mar 6 2008, 10:54 AM)
My dh is worth more dead than he is alive  biggrin.gif  biggrin.gif . And I tell him that all the time playing around.

I always threaten Troy that I'll push him down the stairs. laugh.gif

I'd be more worried about our emotional state than our financial state. Money comes and goes and I believe God will always provide it for us even when money seems tight. I'm confident and faithful in that, however, Troy being gone is not something I think I could take. With or without life insurance, I'm not worried about $$$, I'm more worried about carrying on without the man I love and father to my children.

On the original question...we'd be fine for awhile, but I'd eventually have to work full time again and probably sell our house or heaven forbid...move in with my parents.

Beautifully stated.....that is how I feel. I'll find a way financially to do it, I'm strong in that aspect but....I'd never be the same without DH.


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wcs40110
Posted on Mar 8 2008, 04:50 PM
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I hit the wrong button and didnt get to vote!! lol. Yeah, I wouldnt be in this house I can tell you that much. I'd be okay, but very broke for a minute.
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Hillbilly Housewife
Posted on Mar 8 2008, 09:13 PM
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Dh and I both have long term 100,000 each. We also have 250,000 each on a 20 year term. The kids are insured, currently, long term, for 25,000 each of them. The policy can be signed over to them when they are 18 and they can choose to keep it, or upgrade it, whatever. We will likely keep it for them though...just to make sure they have SOMETHING and don't cash it out.

The beautiful thing about our plan is that after a few years... it will be paid for by the quarterly dividends....in 5 years, we will not have to pay anything. As it is, the dividends we get pay for about 1/3 of the cost. We pay 294$ a month, before dividends kick in.

We are insured through the Knights of Columbus. You CANNOT beat that plan. wink.gif

So yes, if my husband or I were to pass away suddenly, the other would be financially stable for a long time.


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youngmomofone
Posted on Mar 21 2008, 02:45 PM
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My dh has a life insurance policy w/the Army so we'll be ok for a while. It would help pay for things while I was in school and trying to figure out what I wanted to do with my life. Plus get all the other benefits that comes along with it, but I hate thinking about it.


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emiliosmom
Posted on Mar 21 2008, 08:18 PM
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I would be fine, we need to get some life insurance on me though so that if I died my dh could provide my son with great childcare, and cleaning lady.
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Boys r us
Posted on Mar 30 2008, 06:29 PM
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I would totally lose my mind if my DH passed away..and it's one of my biggest fears! But, my DH has made sure that we would be very well provided for in the event of that tragedy, we would never have to worry about finances, just our broken hearts! bawling.gif


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mom21kid2dogs
Posted on Mar 31 2008, 06:12 PM
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We are very well insured by natural death, however most policies don't pay or pay a greatly reduced benefit in the event of suicide so in the case cited in the original post, most of us would be in that poor soul's position. A disability would be pretty financially devestating for us, though.


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mom21kid2dogs
Posted on Mar 31 2008, 06:16 PM
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QUOTE (Hillbilly Housewife @ Mar 9 2008, 12:13 AM)
We are insured through the Knights of Columbus. You CANNOT beat that plan. wink.gif


It's wicked true, isn't it. Stephen just joined the Knights and we bought additional coverage through them even though we were very well set before he joined. You really couldn't beat the plans they offer. thumb.gif


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Crystalina
Posted on Mar 31 2008, 06:22 PM
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If one of us dies the other will be better off financially. We've already talked about it. If he dies first I'm selling the farm and moving into town. If I die first he keeps the farm and continues living. It's all good. happy.gif

This post has been edited by Crystalina on Mar 31 2008, 06:23 PM


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coasterqueen
Posted on Mar 31 2008, 06:35 PM
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Dh and I discussed this at lunch today because I'll say I don't pay attention to the finances that thoroughly to honestly be able to answer this question. He knew it too and commented on it when I asked him. blush.gif I know we both have life insurance policies through our work and on our own, but as to how much I had no clue. blush.gif Dh said the girls and I will be very well taken care of financially and then my parents would step up and help out in every way possible so there is no need for us to worry about that. Dh would be screwed, though. He'd have a hard time financially with the girls as my policy isn't as big as his and we both equally contribute to our financial status.


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Hillbilly Housewife
Posted on Mar 31 2008, 07:00 PM
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QUOTE (mom21kid2dogs @ Mar 31 2008, 09:16 PM)
QUOTE (Hillbilly Housewife @ Mar 9 2008, 12:13 AM)
We are insured through the Knights of Columbus. You CANNOT beat that plan.  wink.gif


It's wicked true, isn't it. Stephen just joined the Knights and we bought additional coverage through them even though we were very well set before he joined. You really couldn't beat the plans they offer. thumb.gif

They're the best anywhere!! thumb.gif

And, they even cover suicide, as long as the suicide if after 2 years of having the plan. We have disability on ours, too, covered up to a maximum of I don't remember what.

The rates never go up, and the plan pays itself with the dividends after a few years. It really is awesome! happy.gif


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Kirstenmumof3
Posted on Mar 31 2008, 07:13 PM
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My DH's aunt took out life insurance policies for my DH, the money goes to the children and they each get 1/2 million dollars. He also has RRSP's, investments and we bought life insurance when the kids were small. He has done everything to make sure that we would be okay if anything ever happened to him. If I were to pass away DH and the kids would be fine as well.


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