The Porch Light copyright by Revka (2006-2010). All rights reserved.

Friday, May 30, 2008

Life Insurance

I have posted about life insurance several times before, discussing children's life insurance, advocating preparing for the future by making sure you have a life insurance policy, drawing a brief comparison of whole life and term life policies, and scattering throught out various posts other incidental remarks relating to life insurance. If I have so much to say about life insurance, what do we have?

Both Mr. Incredible and I have term life insurance, and each child has her own whole life policy. I do need to check to make sure that Mr. Incredible and my policies provide adequate coverage for our situation. I'm pretty sure that they do, but I want to be absolutely sure.

What about you? How important do you think it is to have life insurance?

4 comments:

dana wyzard said...

Knowing that God takes care of us, we still need to pay for our food and living expenses and we aren't good stewards of our money if we pass those debts onto others.

I have NO insurance. Due to my health, I am uninsurable, so I prepaid for my funeral expenses.

Joe has life insurance but he has to die by a certain date or forget about it. I think that's TERM insurance.

When you have children, it is your responsibility to provide for their welfare and, as a good steward of your money, life insurance only makes sense.

Lorne said...

Hi! I am always glad when I see people are trying to think about their future. Actually, I don't think there is very big difference between whole and term life insurance - being insured, that's the point. As a broker I like more whole life, but it's only because it's more complex and it recquires more work (coz I like constructing insurance policies for people :)
Take care!
Lorne

Revka said...

Oh so true, Dana! He expects us to be good stewards of what He has given us and does not reward slothfulness.

I'm glad you brought up your inability to be insured. I had forgotten about that point. It sounds like you have taken the steps you can take to mitigate any financial hardship caused by your death. Good for you! :)

I think you are right about the Term life insurance - it's only good for so many years.

Revka said...

Hi, Lorne! Thanks for stopping by and taking the time to leave your comment.

It is not necessarily pleasant to think about your own death, but I believe that planning for the future is an important part of caring for your loved ones.

Thanks for adding your opinion regarding term and whole life insurance; I appreciate it, particularly coming from an insurance broker.