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April 13th, 2013, 10:26 AM
Mega Super Mommy
Join Date: Apr 2012
Gah, I am feeling really overwhelmed and uninformed when it comes to things like life insurance lately.
We are in a unique situation because of DH's deployments the only company that would cover him was SISIP and it was quite affordable. Should something have happened to him overseas he was covered for a significant amount there. Now that he's home, we still pay into it, but he would only receive about $100,000. I'm worth less than that. We have no other private insurance.
He also currently has a work life insurance policy. That I honestly know nothing about.
We opted out of the mortgage life insurance as was advised by our broker because it was a 'bad deal'... with the intention of getting something else to cover ourselves, but we haven't done anything with that yet. Also with baby's impending arrival I'm getting really really anxious about this!
Dh seems against it because he has an "all insurance companies are crooks, and lawyers eat all your money and the world is out to get me" attitude. This is fine for him, because if I were to die, he'd essentially have to pay childcare and that's it. He'd probably wind up with more take home $$ without me. On the other hand, I would have to sell our house likely at a loss, move either to my parents or somewhere very low income in a new area and find work. and then scrape together what I can to pay everything down, and get by on next to no income for a long while. That's terrifying to me!
I want to look into getting more/better coverage and have managed to convince DH to at least talk to someone, but he figures it'll cost us an arm and leg/month for something he doesn't see as necessary. I don't even really know who to talk to.
Any tips, advice, experiences, etc etc?
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