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Reply to "How much life insurance does DH need?"
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[quote=Anonymous]This is DCUM, so you will hear from a lot of over-insured people. First, you should only buy term life, not whole life or any other stuff an insurance salesperson tries to sell you. Given the $75k salary of the spouse being insured, and the $550 mortgage, I think something in the $600k range would be reaonable. That's probably the lowest I would go, but the caveat is I'm not an expert/financial planner. That way you pay off the mortgage and you can easily cover remaining expenses with your income. If you go to $1m on your husband, that would be plenty, for sure. That would allow you to work part-time if you needed to following his death. On your life with the higher income, I would go higher, $1m or more. If it was me. Because he would really struggle without your income. [/quote]
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