Reply to How much life insurance does DH need?

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Reply to "How much life insurance does DH need?"

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[quote=Anonymous][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]

Agree!

Enough to get your mortgage paid if something happens to your husband. This assumes that you will continue to work even if it is for less hours and earning less money than you are at the moment.[/quote]

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