Would You?
February25
I have been debating on the idea of getting a life insurance. When my sister told me that she and her husband got themselves a low cost life insurance, my initial reaction was to ask them what for? Do we really need life insurance?
Ideally, a good life insurance policy would take care of the financial responsibilities that you left behind so family members wouldn’t be burdened. Unlike an estate, the funds are readily available and are shot straight up to the beneficiaries. But what’s stopping me from getting it are those instances that I see on tv and in the news. Life Insurance has become a popular motive behind domestic violence. So that definitely turned me off.
Howabout you? Would you, get a life insurance?
Now that we have LJ, hubby is thinking of getting one for himself, so that in case he ‘goes first’, I won’t be too burden with financial prob, but we’re not planning of getting a policy for me. He reckons he can cope up.
My MIL once told me that when my FIL was still with the Army, they bought a life insurance policy for him, for the reason that his job is high risk. But after his retirement (and the kids were grown up too), they canceled it as they felt there was no reason to keep it.They took a private health insurance instead.
For me, I’ll buy one if there’s a need for it otherwise, no, I’ll just save the money.
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Jacy Reply:
February 26th, 2009 at 11:26 pm
Good point, Hermz. TS and I are still trying to cope up with our finances. And we are trying to save our money for now instead of getting insurance.
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I would. It cost a family friend $10,000 for a funeral for a loved one. Who has that kind of money laying around?
As far as being a motive for murder, IMO, if that happens there were already issues and a movite and money was just an extra push. If you fear that your spouse will kill you for insurance money, perhaps you need to take a look at the relationship.
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Jacy Reply:
February 26th, 2009 at 11:33 pm
Hi B!
Thanks for sharing your thoughts. Can we not consider savings as an alternative to it? Like if something happens between us, there’s our savings that should help with the financial responsibility that we left behind. I do understand that savings is readily accessible and may be used before then.
As for the fear of murder, I guess I just happen to watch too much X files. hehehe! Honestly, I have never thought my hubby is capable of doing violence and I would never do such a thing to him just for insurance. I just don’t like that when something happens to me or to him, people will start to think twice about my hubby and will put him in total discomfort just because we have the insurance.
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If you’re concerned with the risk of possible domestic voilence, why not enroll your husband instead?
It is more likely that he will survive just fine if you will “go first”, God forbid. At least if the latter happens, you won’t have to worry about where to get the funds to survive financially when he’s gone.
My husband has a $250K insurance from work, and many others, so just in case something bad might happen, we will be alright.
Hope this will help you decide.
God bless always! 
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Jacy Reply:
February 26th, 2009 at 11:37 pm
hi Jen!
thank you for your ideas. i was just brainstorming about it and trying to see if there is a need for it.
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I do think that life insurance is one great thing to do. Tim and I had a very serious talk one time and it made me cry. We were talking about life insurance which he already has and that helps when time comes that a person lives this earth and the family left behind has something to spend for the funeral expenses, etc. Though, that could be the reason why some people has the motive to kill their own partner, but hey! If you are sure that your partner loves you so much, then no worries! hehehehe..
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Jacy Reply:
February 26th, 2009 at 11:48 pm
you’re right, Adin. however, i was thinking that if we are only to worry about funeral expenses, isn’t there such thing as funeral insurance or that sort?
my thoughts is that, instead of investing our money on life insurance, howabout investing it or saving it so that we both will enjoy it, as long as we both shall live. hehehe!
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hehehe…. yep! you are right too girl Jacy. The important thing is you get to save some money for the future use then you are doing fine.
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Hows life and work jacy? Life insurance is very helpful, We have one and it takes care of our medical expenses and of course we are stranger in this place, its better to make ourselves secure.
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Jacy Reply:
March 6th, 2009 at 12:08 am
hi Shy. i think you have confused life insurance with health insurance. i do believe that health insurance is very essential. life insurance on the other hand are fund that can only be released to the beneficiary only after the insured person’s death.
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Hmmmnnn not so much of a Life Insurance I’m after but the Life Savings one LOL
In the seriousness side of it, you should if you can afford it on top of your monthly bills otherwise if it’ a struggle to pay it then it’s not worth it, you and partner of your family need to live now rather than later.
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Jacy Reply:
March 6th, 2009 at 12:13 am
i totally agree with you on this one, Momi Lindz. it’s about living now than later. savings should also be there to rescue the partner if the other one passes away ahead of time.
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