Morbid topic but have to be prepared. Married with no kids. Company insurance policy covers our outstanding debts. How much life insurance?

like
Posting as :
works at
You are currently posting as works at

AICPA coverage is far cheaper than Company a sponsored. I pay 90 a month for 2.5M coverage and get a refund for half of it each spring when trust payouts are less than premiums. The number I came up with was based on having to have a full time nanny for 16 years, mortgage payoff, and college for 2 kids.

like

If I had kids, that would be a minimum and I'd agree. But that seems like a motive for murder. I should have added we are young.

like

Then it sounds like debts plus funeral costs is enough....i hope you don't have anything serious going on with your health. Good luck

like

Potentially yeah. Biopsy that's at some stage in the C progression with a family history that's against me. At my age, most likely just a few really rough years and a major lifestyle change but I don't want to be unprepared. Not upset about my situation at all. Just trying to fulfill my promise to take care of the wifey without making a really poor financial decision.

like

Assuming outstanding debts for sure includes mortgage - not much else? Insurance payouts aren't meant to be windfalls but a security blanket for those you care for

like

If u think ur wife will kill you for insurance you married the wrong girl. U have bigger things to worry about than life insurance.

like

If you want to neutralize the situation you can take out an equal life insurance policy on her.

like

I don't think she would but no reason to tempt her. She has life insurance through her company but that's more than enough. Not worried about me. Waiting on a diagnosis and figuring insurance will be a lot more expensive if I get the wrong one.

like

God bless you. I will keep you in my prayers

like

MA 1, definitely came off hot because it's personal to me but you should seriously consider these things. You don't need to stress about them but I see so many people wait until 50, 60, 70, 80 (new client) to start planning for succession, old age, sickness. They forget that the planning is for worst case.

like

Thanks everyone for the support.

like

I went with 250k on me and 250k on wife- would be enough to pay off mortgage with a cushion plus work life insurance for a nice vacation and party if I die, then hopefully she buys some nicer clothes and finds a doctor to take care of her. If we both die - each policy goes to our parents to cover funeral expenses and wrap up financial matters. No other major debt besides mortgage and no kids yet at this point. Once we have kids - life insurance will be increased.

like

We're watching elderly parents deal with end of life issues and changing our policies to include nursing home care so that the things of value we want to leave to our kids actually get to them. If I didn't have kids policy would be enough to pay off mortgage on house and rental property. With kids it's bumped up quite a bit. I did that when they were younger, but kept it where it is even though they're in college.

like

OP, peace and strength to you for whatever is coming down the pike. I hope it's nothing.

like

How about single no kids; how much should I save for nursing home and medical care huh?

Exactly. She's gainfully employed so I'm thinking 100K since it's almost the same cost as 25K just to cover funeral and miscellaneous that could come up during that process. She'd get the extra 75K just because the premium difference is $2 a month.

Moss Adams 1, nothing. If you're making fun, then get outta here because I'm serious and need to plan.

I think the Rule of thumb is 10x annual salary

Thanks. That's what I'm thinking. I was just seeing if there were any good arguments for additional coverage.

All current debts + mortgage debt + cushion for her to live the same lifestyle without your salary. In sum, probably more than you think you need. I have 6x my salary right now with no kids.

Related Posts

What region in the United States is best for real estate investing?

like

Is anyone aware of any healthcare / healthcare consulting companies based in the Bristol area (UK)? Thanks

What is the best way to grow in the insurance industry? I’m currently working as a Technical Assistant and just passed the RIBO. Don’t know where to start from…

like

Since there is no active lawyer bowl.. any lawyers here practicing healthcare related expertise (eHealth, IP, regulatory, etc… no malpractice)? Particularly from Fasken, BLG, or Osler?

like

Life insurance agents!! I’m in the process of getting licensed now, what are some tips you have for me just starting out ? How long did it take for you to start selling? I’ll be doing telesales only , let me know your way of selling and why it works best for you. Thank you !

like

Interview with Deloitte for Healthcare Ops transformation Senior Consultant. Wanted to know what salary range i should expect. Candidate with post 6 years of experience with Top 20 MBA degree. Currently at a competitor.

like

Hi friends! I’m planning on moving in with my long term boyfriend. He makes about 60-70k and I make 105k. Originally I was going to split rent equally but the feminist in me says it should be split based on income. Have you all been in a similar position and what was your decision?

like

I'm ready for the concept of plant-based diets to really go mainstream in this country. It would do wonders for our health outcomes.

like

Any good underwear brand? Looking for something sustainable and cotton (heard it’s good for health)

like

How does anyone break into pharma/ health care? It’s impossible!

like

So my bipolar dad got declined for a mortgage because disability gets shut off in < 3 years when he turns 65. So now he wants me to co-sign for him. Between housing markets being up, my concerns over his money mgmt, and concerns over tying up my credit there’s no way I can say yes. He sold his house before being approved for the new one he put in for (against my advice). I know he won’t understand and will take this personally, and the family will probably take his side. Gonna be a long week…

like

*calling big Pharma professionals* my friend wanted me to hop on and ask about a salary that she has received working as a quality insurance coordinator for one of the top 15 pharmaceutical companies. She is making 65,000 Canadian and that would narrow down to 50,000 USD, she wanted some insight on how much quality assurance or regulatory affairs associates or other levels make? Also is she being underpaid or is that the current market rate at the moment. Thanks in advance

like

Over 12 years of experience in Healthcare vía administration, any ideas or suggestions to transitioning over to becoming a consultant?

like
like

Hello everyone! Does anyone know any companies hiring for insurance experience other than sales or what I should do? I have my license in accident and health insurance but I realized sales aren’t for me. I’m urgently looking, so anything will help. Thanks!

like

What is the take on firing at CVS Health? Given the high likelihood of recession, does CVS Health have a history of firing people? I have a feeling that they have hired a lot of people at high cost in the past year and are going to face pressure to justify productivity. Would be great to understand if there is history here in how CVS has reacted in the past to recession

like

Clinician looking for a new role. Experience in SaaS technology, telehealth, sales, client success, implementation, and consulting. Looking for a remote position with little to no travel. Idealy something in the health tech space.

like

My recruiter told me I️ would be hired as an FTE after 3 months now they keep extending me month by month & the instability of not having health benefits makes me feel extremely anxious. I️ initially wasn’t interested in contract jobs but thought it would be a good opportunity for my career. Im thinking of sticking around but also debating looking for a new opportunity w/ more stability/clarity. Any advice? Open to anything, preferably a proposal/project coordinator role if anyone is hiring

like

Looking to leave my boutique firm. Have a background in commercial and healthcare. 3 years FTE. Anyone willing to give a referral or connect me to recruiting teams?

like

Can anyone tell me what the salary range is for Monitor Deloitte senior consultants in the UAE? Also I have a SC offer from PwC healthcare (not strategy &) and currently also interviewing with Monitor so according to you all which of the two is better across WLB, growth, culture, quality? Thanks!

like

More Posts

Anyone travel to and from the US recently? What are the latest testing requirements? Do we think it will loosen by this summer?

like

Why do I have the feeling that Betsy DeVos sent her kids to chicken pox parties back in the day?

like

Happy Sunday Fishers (of Men!)

like

Hi guys 👋🏻
This is regarding the interest amount of our EPF.

For you guys,is the interest details showing any amount in the EPFO member passbook? Or is it showing '0' like me(As seen in the photo below)?

Is the government yet to credit the interest amounts of our PF balances? Or is something wrong with my PF account only?

Any inputs will be really appreciated 🙂

Post Photo
like

Thoughts on the Mercedes Benz A-Class commercial??

like

After submitting the documents, how much time techmahindra takes to release the offer letter?

like

Can anyone share what are the perks & benefits we will get in barclays , i didn't find much in offer letter , planning to join chennai . Barclays global service center

like

Hi Folks,

Open for any referrals as a marriage prospect.

I am 28, Brahmin , 5'10
By profession , I am a B. Tech-15 passout and pursuing Modern MBA from a US college.
Doing well in job. In Startup cultures majorly.
Working as a Manager and handling multiple departments i.e. Operations, Customer Success, Inside Sales and Graphics currently.
Aspiring to become Growth Manager in near future.
Reports directly to CEO.

Anyone you know in your network can be a good fit for me , please reply or DM.

Post Photo
likeuplifting

How did you know you needed meds?

like

Anyone wishes to book for AWS certified cloud practitioner exam? I have the exam voucher valid till December 2022. If you want to buy it I'm selling it for 500rs less than the original price 9300 rs (118USD, with GST). DM me

How much salary we can expect for 7year old SAP Native HANA consultant in CG!!

like

I know not many of you are Union, but have you heard anything about a potential IATSE strike?

like

How much fis takes to share service letter. As it's already more than 20 days.

Combinatorics and graph theory are like Batman and Robin, Jordan and Pippen, peanut butter and jelly. Best tag team of all time.

like

I’ve recently been staffed on a deal with a partner (& one of the dept. chairs), a 1st year associate & summer associate (I’m class of 2018). I’m being given the opportunity to draft the main transaction documents, run diligence & for all intents and purposes serve as the senior associate. I generally feel as though I understand a transaction timeline & am appreciative of the opportunity/ challenge but any tips/ considerations/ things I may overlook would be appreciated.

likehelpful

Wondering what some slightly less well-known consulting companies are (outside of MBB, B4).

Can anyone refer me to @Kearney, @Oliver Wyman, or other consulting firms they enjoyed working in? Thanks!

like

A recruiter from a recruiting company reached out and scheduled a call for tomorrow to see if I'd be a good fit for any of the positions she's looking to fill. I've never worked with a recruiter before, how do these calls usually go?

like

Does anyone here work for the custom or express underwriting department at Liberty Mutual? Wondering how you like it and the differences between the two as far as work life balance goes. Appreciate any insight.

like

Additional Posts in Accounting

Pursue manager promotion in core tax compliance or pursue transition to M&A tax but remain SA. I am a Macc CPA.

like

Thoughts on why senior 3s and below turnover rate is so high? Just wanted to see some insight from different perspectives.

like

Random drug test screening?! What's that all about. I need these meds.

like

Thinking of pursuing a Master in Finance. Spent 2 years in audit, 1 year in accounting advisory. I knew I absolutely hated audit/accounting work day 1, but stuck it through. Now as I try to pivot into

like

Can we start listing companies that allow full time WFH? My company is trying to force hybrid and I’d like to get a feel of what companies offer full time remote for auditors.

like

Anybody been coached out this summer? I had a bad year, though my work was great and utilization high, I wasn’t “managing” the engagement well enough... so got held back. $0 raise, $0 bonus.

like

Just got through my first year end review cycle. Employment is still intact even though I'm on a PIP so that is a huge relief considering what I've been reading here.

like

You know you’re a tax accountant if.....

like

Roses are red. My client is a clown. It’s over partner, I have the high ground.

likefunnyuplifting

Anyone have any Boston area firms they would recommend working at? Considering a change

like

Do you know when we hear about raises, PBB this year?

like

Do you record your unbillable time? I have had conflicting responses. I have been told it's not good for efficiency calculations but others have told me if your still doing work let people know. For example, I get weird international stuff sometimes that not everyone gets (I think maybe? ) and I need to reread the 5471 rules or 8865 rules as I do the returns. I have been told not to bill for this but if I didn't have to spend time to do such things my billable hours would be higher

like

How do you calculate your utilization and what % threshold is the goal for each level (audit) ?

like

Firms should really start lowering the mandatory retirement age in partnership agreements before these old out of touch partners drive the entire industry into the ground. These people legitimately think the high turnover we’re experiencing is caused by remote work and people “not feeling close” rather than insane hours and compensation 🤦🏼‍♀️.

likefunnysmart

Get that PTO in!

Post Photo
likefunny

Will u quit during busy season, and switch to a competitor? #what will hurt you? #blacklisted?

like

What do your teams do to keep it light in the audit room so you aren't just sitting in silence all day?

like

What are your plans for the Memorial Day long weekend?

like

What is your uber rating ?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal