Life Insurance 101 help


#1

If the bloggers here could send me links to any posts on super basic life insurance info that would be awesome. I’d love a variety to read. This topic makes my head spin a bit.


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#6

Thanks so much for posting this! I almost finished the article and it answered a ton of my questions- until I got to this discussion re how long of a term you wanted: “I’d like this to be the last time I need to buy a policy. With that in mind, I wanted to pick a term that covered me until I wouldn’t need insurance anymore.”

I have the same situation you did with your previous employer and paycheck deductions for life insurance for both myself and spouse. It is very inexpensive and large enough policies to cover our ideal number.

For us, the assumption is that I will work until we are financially independent. I have more than a reasonable expectation that I am locked into my job until that happens. If I’m at the job with this scenario until death or financial independence, do I need to do the more advanced policy under a term life insurance plan?

Thanks!!


#7

Thanks for this! This is the second post I read. I went to havenlife via the post and I believe I can get a much larger policy than from my employer for the same price!


#8

Hi Jillena,

It’s tough to say with certainty without knowing your situation and by no means am I an insurance expert. Based on what you said, though, I’d imagine if I were in your situation that I’d just stick with my workplace policy until I got to the point of financial independence (in which case I’d ditch both the policy and the job).

There’s a small benefit to having outside insurance if you think you might want to branch out - freelance, etc before getting to FI but with the way you described it, that doesn’t sound like the case!


#9

actually since I wrote this, I looked up the company you went with and the rates may just be cheaper with them than my work, either way thanks for the great guidance, I’ll get a big policy with one of those routes until I ditch both.