Please help. How much insurance do y’all have? And from whom? And what type of policy? A bit unsure of where to go with all of this, and my wife is due in a couple of months. Thank you in advance!

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Bear in mind that what’s right for me or any other stranger on the internet may not be right for you. You need to consider your needs and objectives and assumptions. Will your spouse work? Will they remarry? How much are your monthly living expenses? How long to you want to cover them for? How much are you willing to pay for the coverage?

We have privately placed (not through work): a million on me, half a million on my wife, none on the kids. Plus whatever I get from work, I think 1x annual salary.

Term, term, term. Unless you’re extremely wealthy or have some other exotic scenario, whole life is just a way to pay for a salesperson’s boat.

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Term only. And think about it in terms of number of years of runway you want to give them at current burn rate.

Bigger one is long term disability. If you die chance are your family will reform somehow. If you go long term disabled that is a big change. LTD is a good one to consider.

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Thank you for the LTD suggestion. Very important to think about.

You currently have health insurance, yes?

My first was a c-section. That was costly even with insurance. The other two were natural births. Much more palatable.

Do you contribute to your HSA or have a plan that allows it?

What kind of insurance? I assume you mean life?

I’m sorry, yes I mean life insurance. We have health insurance. And specifically for myself, I just don’t want to leave my family with nothing.

Thank you principals for the guidance! This is exactly what I was looking for. I have a good idea where to look now. Really appreciate the help 🙂

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