PDA

View Full Version : Important Doc and insurance


BabyMine
03-02-2010, 03:56 PM
I have been lax due to other things and I know that's not an excuse but as least I am doing it now

Getting

Umbrella Policy in 30 days
Finishing Living Trust and Death rights

Have

Home, Auto, Life, and Car Insurance
Home Service Warranty- Extremly good Co.

Is there anything I am missing?
Momof3Labs
03-02-2010, 03:59 PM
Disability insurance is even more important than life insurance!
wolverine2
03-02-2010, 03:59 PM
Do you have long term disability?

We still need to get a will- it's getting ridiculous- I think we just don't know who we would want to have guardianship of the kids (keep waiting for SIL to grow up)!
BabyMine
03-02-2010, 05:08 PM
I am currently on LTD/SSD so there isn't a need for me.

I made sure DH has STD and LTD through work. The highest amount possible.

The quote for the Umbrella policy is: $243.31 for 1 mil, $369.66 for 2mil, and $490 for 3mil.
DebbieJ
03-02-2010, 05:50 PM
https://www.mytotalmoneymakeover.com/index.cfm?event=displayLegacyDrawer
smiles33
03-02-2010, 06:01 PM
When you say death rights, does that include the medical proxy stuff too?
BabyMine
03-02-2010, 06:03 PM
When you say death rights, does that include the medical proxy stuff too?


Living Will/Advance Directory.
bigpassport
03-02-2010, 06:43 PM
Good job! I assume your Living Trust package comes with a Durable Power of Attorney, right? I agree with PP on Disability Insurance. Make sure you have enough Life Insurance for your needs. As you get older, you may want to look into Long Term Care Insurance.
BabyMine
03-02-2010, 06:56 PM
Good job! I assume your Living Trust package comes with a Durable Power of Attorney, right? I agree with PP on Disability Insurance. Make sure you have enough Life Insurance for your needs. As you get older, you may want to look into Long Term Care Insurance.

DH has $150,00 for his LI policy. I only have $35,000. Mine is so low becasue it was though my previous employer. I am trying to up mine but becasue I am on SSD with a chronic condition I am denied or the premiums are astronomical. Yes, the Power of Attorney is included. I forgot about Long Term Care. I'll look into it.
mommylamb
03-02-2010, 07:38 PM
DH has $150,00 for his LI policy. I only have $35,000. Mine is so low becasue it was though my previous employer. I am trying to up mine but becasue I am on SSD with a chronic condition I am denied or the premiums are astronomical. Yes, the Power of Attorney is included. I forgot about Long Term Care. I'll look into it.

Hmmm... If I were you, I'd want your DH to have more than that. Sorry you're having a hard time getting more for yourself.
BabyMine
03-02-2010, 09:34 PM
Hmmm... If I were you, I'd want your DH to have more than that. Sorry you're having a hard time getting more for yourself.

I am also working on uping his. He is maxed out at work so we are looking for a private company.

I wonder where Bill is. This is right up his alley.
bigpassport
03-02-2010, 09:43 PM
I'm no expert on life insurance, but you might want to consider what it would really cost to cover DH's loss of income. Would you be able to support yourself and DC's without him? Would you be able to pay the mortgage? Pay for food, utilities, and childcare? Have money for college? And vice versa...how much would it cost him to provide childcare and cover your loss of income if you passed away?

As to long term care insurance, you might want to ask an insurance broker about it but I think its in your 50's or 60's that it becomes cost effective. Some of the folks here are in their mid 40's--I don't know how old OP is--so I threw it out there for future consideration.

Another thing, OP, you want to look at if all of these insurance premiums are seeming overwhelming is...who or what are you protecting? Oh, darn, DH is home and I have to make dinner. Hopefully I will be able to continue this thought later if no one else covers it.