I want to hear especially from the married folks.

The topic of  getting adequate life insurance coverage scares men like crazy.I've had this talk with all my close friends and came to a conclusion that  most of their husbands, Nigerians and Americans, blacks and whites hate that topic, mine inclusive.
I don't know what the fear is.
I'll like to know that the kids and I will be taken care of, should the unfortunate happen.
Just a precautionary measure, doesn't mean I lack faith or I'm expecting him to die.

A colleague told me she felt her husbands coverage will not be enough in the event of his death and she went out and purchased an additional $150,000 with herself as beneficiary and she pays the premiums.
How will you react if your spouse did this and you found out.


_{that spouse is not me for those who may be thinking so.
even though I would want him to get more}

Professionals tell us that a man must have enough life insurance to pay off the balance on their home mortgage and pay the tuition for the kids education in the unfortunate circumstance that he passes away.

At the rate things are going now I wouldn't blame any one that looks into that at all.  . . . . . . . . . .

The expenses go on and on,

Funeral cost, the kids, mortgages, health insurances and the likes, . . . . . . .

I essentially think is ought to be a mutual agreement tho. . . . kinda like a pre nup,

Both parties should be in the know. . . . . . . . . . .

So that if something unfortunate happens it wouldn't look "suspicious". ,

I agree with you Toyosi but what if the man adamantly refuses to get life insurance or adequate life insurance as was the case, would the wife be overstepping by getting one on his behalf since they have a child.

Now that's a bit tough,. . . . . . ,   

Well if he still refuses after all that I   try to do to persuade him,

then we would need to seriously invest in other forms of financial security. . . . .

A typical example, a cousin of mine got married last December,

and went for her ultra sound last week and found out that they were expecting triplets

They both have very good jobs and earn a lot of money, but now, they are speaking to some real estate investors

about purchasing some apartment buildings in the Downtown area,  . . . . . . , 

I think this would be their best bet,.  . . . I say that to say this. . . . . . the household income would be cut in half,

but at least money essentially keeps rolling in maybe even more than it was before. . . . . .

bless her
triplets?
I'll just collapse on that ultrasound table

My sentiments exactly. . . . . .

I in particular i have life insurance but my wife dont know about it and i wont let her know,i dont have any kid yet but suppose i do i wont tell em too.i think things like that should be kept secret.in america there so many wife's or husband's killing their partner's in other to make a claim,i know it's weird but the love of money is always the root of all evil,sometimes one can be tempted by the devil.never say never

if my wife make such purchase on my behalf,if i find out,i'll move back to africa or to a different country immediately,bcs that means she has a plan of murder,she could be seeing another man and they mite be conspiring murder

Both spouse should have adequate life insurance, the husband should not be left with all the burden as well.

$150,000 is not worrth the stress

JJYOU:

$150,000 is not worrth the stress

exactly my brother
The man already had some from work but it wasn't enough according to the wife so she went shopping

euromilion:


I in particular i have life insurance but my wife don't know about it and i wont let her know,i don't have any kid yet but suppose i do i wont tell em too.i think things like that should be kept secret.in america there so many wife's or husband's killing their partner's in other to make a claim,i know it's weird but the love of money is always the root of all evil,sometimes one can be tempted by the devil.never say never

why would you do such a thing?
That's the case with many men
can you imagine, if they looked for you tomorrow and you were no where to be found, how would she know you had life insurance?
haven't you defeated the aim?

if i dont pay for 2months they will write me to find out why,so if am gone, when they write she will know then.

euromilion:


if i don't pay for 2months they will write me to find out why,so if am gone, when they write she will know then.

and you think they'll pay on a lapsed contract whose owner died and owed 2 months premium?
assuming they'll still pay when she makes the required payment,what if she moves and doesn't receive the letter?
If you don't trust your wife that much,why did you marry her?

i have a will and it's on my will.where there is a will there is a way.i used the 2months for example,yes they will pay if the wife or husband can proof that the victim has died before the 2months lapsed contract.


trust hmmmm trust
when it comes to life and death there is no trust.
i have seen a wife hired pple to kill the husband
i have seen husband hired pple to the wife.


my father always said leave no room to the devil,better to be safe than to be sorry.prevention is always better than to cure.nuff said

Life insurance is a recipe for murder. I don't even advise it even if my husband suggests it because it may make your partner develop funny ideas especially if the money is big.

this is interesting.

Hummm. . . . . . . . . . . .

It seems this life insurance policy idea is bad news, . . . . . . . .

It's interesting the way men feel about it,yet it's very very necessary.
It's stupid for any couple with kids not to have life insurance.

With the way momentary value is fast dropping, I don't think it is wise at this time. . . . . . .

$150,000, would be like $20,000, in the next 20-30 years. . . . .

says who?
there's been crashes in time past,this is nothing new
since we don't know when we'll die,it is still foolish not to have life insurance if you have kids.
It may be today,tomorrow,in 20 years.
Which is better,do nothing and leave a wife and kids penniless and borrowing for a simple funeral since one is scared of the financial times?
A term life insurance guarantees you payment of that amount in the event of death ,it's different from whole life or universal life
A healthy non smoking 30 year old can buy a 30 year fixed term life insurance and only pay $30 monthly as premium.
That's a worthy investment for the ones you claim to love.

We are experiencing the worst economic period in the last 20 yrs, . . . . . . . . .

It is nothing new?, it is severe and every single person is feeling the crunch one way or another. . . . .

Where do I start,

-Is it the so called war, or the cost of gas, food, health care insurance, people being laid of

left Right and center. . . . . .

oh ,. . . , . . .and the "Great Wall Street Bail Out". . . . .

Any couple in their right mind would resort to investment rather than going for Life insurance policies. . . . . .

TOYOSI20:

We are experiencing the worst economic period in the last 20 years, . . . . . . . . .

It is nothing new?, it is severe and every single person is feeling the crunch one way or another. . . . .

Where do I start,

-Is it the so called war, or the cost of gas, food, health care insurance, people being laid of

left Right and center. . . . . .

oh ,. . . , . . .and the "Great Wall Street Bail Out". . . . .

Any couple in their right mind would resort to investment rather than going for Life insurance policies. . . . . .

Let me go with your flow.
Invest in what?
something that'll lose 80% of it's value in 20 years?

by the way,the world didn't start 20 years ago.

I can only speak for what I am witnessing,. . . . . . . . .these are hard times. . . . .

There are several options one has when it comes to investing,. . . . . . .

Obviously, when we begin talking about money that people have invested in the stock market, that money is far

from "safe" -- you're at the mercy of the bear!

. . . . . . . . it can range anywhere from, 401(k)s, which most people do have,

to real estate (be very particular about the location, and the property itself) ,

to CDs Purchased Through a Brokerage Account, to mutual funds, and so on. . . . .

No big deal

Hi,

I think with true love and understanding in a home such a matter should be discussed. If you found out your husband has taken a life insurance policy without telling you, you should ask him ‘why’ or if for any reason you suspect foul play, try to found out why he did it.
He could simply have forgotten to discuss it. (Very possible in this very Lagos).


I don’t think you should jump into conclusions and think he wants to kill you. However you can always investigate. If there’s foul play in the picture, there will be other signs.

Also, just leaving a will may not solve your family’s problem if you do die. Wills are sometimes contested by other interested parties and sometimes they win. Both the man and woman can have investments in the name of their children or the woman, simply because these are the people who usually suffer if the man dies. If the woman dies, the man will not usually struggle with any one for his wife’s possessions. They automatically become his. Not so for the woman.

I think married couples should always remain on the same side, same page on issues and work together for the good of each other and their children. Always.

it depends on the person ur married to cos life insurance is very important for your family incase anything happens to u,
my hubby has life insurance,house insurance and accident insurance on us and he told me all about them all ,i do appreciate the fact that he is securing a good future for us incase anything happens to him and i definately will never have any negative thoughts in my head.
i think alot of people prefer to keep there life insurance policy a secret to be at the safe side thats if u dont trust who ur with.

From what i have read (here and in the papers) and seen, I think is better on takes out insurance to cover burial, mortgage and not life in that way, the payment is only to settle debt and not for anybody to claim.

Also i believe if one has a will, Mutual Funds it will go a long way in taking care of love one.

just my view.

I will rush out and get my partner too a life insurance afterall death doesn't know if you are a man/woman/child or granny.