I did a rough calculation of what my Fire Dept. pension will be when I am forced to retire at age 60 (started the job when I was already older). It'll be adequate for our senior needs but I'll still continue to work at something else so we can have a bit of fun when we're old.
The way my group life is set up, if I get killed while on duty, my wife gets a HUGE sack of money. Didn't do much for my sense of self worth but everything else in my life is on the up and up. Just a small speed bump in the road of life, I guess. Do we really want to know what we're worth dead?
She tells me she'd rather have me alive. She sounded convincing. I think I'll keep her.

 

Dave, this is a sad truth for most of us but some of us should keep the secret or suffer the

Most of us have Life Insurance that would pay big bucks if we died...sometimes more than our net worth Hmmmm, net worth.....

 

"Life Insurance"
Isn't this kind of a misnomer? Shouldn't it be called "Death Insurance"?

 

[QUOTE]Originally posted by xviper
"Life Insurance"
Isn't this kind of a misnomer?

 

haha i agree... i know my life insurance policy is worth far more than i am

 

I've learned that most of our clients who are married and have school-age kids do not carry enough life insurance on the primary wage earner. They'll have a 50K policy and think that's enough--until you point out it may not even be a year's salary. It's even worse if the suriving spouse doesn't work outside the home and would have to seek employment for the first time in a number of years.

So, all you guys and gals, take a look at what happens to your spouse and kids if you die and maybe consider picking up some cheap term.

 

while "death insurance" might not sell too well....you might look up the root meaning of "mortgage".....doesn't sound like much fun.....

 

Right now I'm still worth more alive. My wife gets a paltry sum If i pass and my creditors would be out a lot more!

 

x,

Same here. As part of our Stock Restriction Agreement, if I pass, the firm is required to buy my stock from the estate and use insurance policies we have in place to fund the purchase. Then my ungrateful family gets rich.

 

It would be somewhat alarming if we had loved ones who looked as us like walking $ signs. Hopefully, they truly love us.