Life Insurance

This was the sky last night!! Isn't it incredible!!!

As you read in an earlier post, I had recently increased our term life insurance. We were not fully covered for what we thought was best and I knew we needed more. Well, I shopped around for the very best deal and ended up staying with the company I was already with. For a total of $200,000 coverage each we are paying $531.48/year.This was enough to pay our debts and nothing else, no recovery time for the left behind spouse. Anyways, long story short, we had someone in to give us a financial plan and one of the things he did was shop for life insurance. He found us 10year renewable convertible term life insurance for a total coverage of $800,00($300,000 on me and $500,00 on hubby)for $593/year!!!! Why the big savings?

Check your policy to see that you and your spouse are on the same policy(it costs more to write 2 policies, but the agent gets paid more).

Second, there are bands of insurance so that when you reach a certain higher amount it costs less????

It gives us lots of peace of mind to know we are covered properly in the event of something awful happening! We look forward to being totally debt free and our kids being self sufficient and then we will no longer carry this insurance.

Dave Ramsey says you'll never think twice about having life insurance after you've sat with someone who has lost their spouse and did not have any insurance.