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

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Oct 21, 2020
6:35:37pm

bythenumbers Truly Addicted User

If the goal is to just maintain the current standard of living minus insured person's income.

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bythenumbers

Bio page: bythenumbers
Joined: Mar 16, 2020
Last login: Apr 26, 2024
Total posts: 1,771 (1 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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