Do you have a life insurence policy,is it up to date & for a sufficient amount?

Very good question. Thank goodness my late husband had a policy. We had twins and he passed away when they were 7. I don't know what I would have done without his life insurance policy. We do get a social security supplement, and that is enough to pay our day to day living costs, but I have put the money into a bank account for the day when I am no longer eligible for his disability supplement. When the children turn 16, I stop getting any money until I turn 60. That rule pretty much stinks, because I will have to wait 8 years without any payments until they will re-start the benefit. I will be living off of the life insurance during those 8 years.

No, I do not, but I really wish I had. We just do not have room for this in our budget, and I feel so terrible about it. I really wish that things were different.

Not only do I have life insurance, I sell it! LOL It amazes me that with the options in insurance that are out there people don't take the time to educate themselves and give their loved ones some sort of security, The rule of thumb is 4 to 8 times your annual salary, depending on what the funds would have to be used for. I personally tell younger couples to buy term insurance with "riders" for their children and switch to a whole life plan when they get a little older. That way if , God forbid, they die young their premiums aren't ridiculous and the family is taken care of, then when they get older they can switch to a policy that builds cash value. There are a lot of options though, and something,even a small policy, is better than nothing.