Are you protected?

United States
June 12, 2007 1:25pm CST
Recently I heard that most women aren't prepared financially when their spouse dies. Or, they have inadequate life insurance to take care of final expenses and children's college needs. And, I'll have to admit, that I'm guilty of this too. For the longest time, we had a good policy on my husband. But, after the baby arrived, it was one of the first expenses to get cut. Ironic, since I need it now more than before she got here. But, we're doing better now. How about you? Are you prepared? Do you feel as if you have sufficient life insurance on your spouse? Could you support your children alone if your spouse were to pass away suddenly?
1 person likes this
2 responses
shemah
@shemah (840)
• Malaysia
12 Jun 07
it's scary to see how unprepared i am.. especially with our 2nd kid coming. I've really thought about it lately, especially with me just being a housewife and totally dependent on him. Hope to GOD I'll get to keep him longer..
beautyqueen26
@beautyqueen26 (16030)
• United States
12 Jun 07
I used to constantly worry about losing my husband. And after awhile, I just had to hide that worry in the back of my heart, because I couldn't do anything about it. It still bothers me though. A long time ago, he promised to take care of me. If he were to pass on suddenly, there's no way I'd be prepared. He's constantly encouraging me to further my education so that I can better care for our daughter financially, if something happens to him. Since we can't afford much life insurance anyway, education may be a better investment for us. Best of luck with your home! And, your new baby. I am sure you will be very happy.
cynddvs
@cynddvs (2948)
• United States
13 Jun 07
We actually just bought a life insurance policy today. It's one of those pretty morbid things to think about but it really is necessary once you have kids. As sad as it is to think about you never know when something may happen. We got enough life insurance coverage so that I could comfortably pay off a house once we get one and send our daughter to college. I could live off the money for a little while until I am able to find a job. We also got a policy so that if something happened to me my fiance would get enough to pay off a house and have enough for our daughters college. I think we made a good decision today and it's relatively cheap.