Yeah, my BIL was under insured, only 100k. But with the death benefit and small

Oct 21, 2020
6:31:12pm

bluecougar1985 Truly Addicted User

amount they had saved my sister isn’t going to have to work at all until the kids are all raised. Even then it will only be 5-7 years before she reaches the age for the benefits to return.

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bluecougar1985

Bio page: bluecougar1985
Joined: Dec 10, 2015
Last login: May 10, 2024
Total posts: 15,639 (1,566 FO)

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Messages

Author

Time

POLL: In relation to your individual income how much life insurance do you currently have?

BYUfan92

10/21/20 6:10pm

One thing to keep in mind is the social security death benefit

bythenumbers

10/21/20 6:16pm

Yep many families would be pulling in over 5k a month from social security

cougarfann888

10/21/20 6:21pm

Yeah, my BIL was under insured, only 100k. But with the death benefit and small

bluecougar1985

10/21/20 6:31pm

This is why I think many people are actually over-insured

bythenumbers

10/21/20 6:35pm

Yep life insurance companies have convinced people

cougarfann888

10/21/20 6:37pm

It would have been nice if he had 300k or so, then she’d never need

bluecougar1985

10/21/20 6:38pm

I think you mean survivors benefits. Death benefit is <$300 lump sum, no?

bruincoug

10/21/20 6:55pm

That's what I mean

bythenumbers

10/21/20 8:04pm

Ahhhhh.... age is a pretty big component here

Pretorian

10/21/20 6:35pm

Multiple of salary? Or total take-home?

bruincoug

10/21/20 6:47pm

Gotta be based off take home since life insurance payout is tax free.

rainorsnow

10/21/20 6:53pm

every time I raise my life insurance coverage my food starts tasting funny

Agnostic-alumni

10/21/20 6:51pm

I’ve had the experience of giving a widow her life insurance proceeds

ThatBYUFan

10/21/20 8:31pm

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