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Life insurance revisited

I’ve been chasing down my life insurance policies, because (shame) while I knew that my husband and I signed up for *something* 8 years ago at my work, I didn’t know what. I thought it was $75K or $100K on each of us. Which isn’t enough. I had a mini breakdown because in our current mess, if I die, he would have trouble maintaining our lifestyle even with that money, and while I could probably cover the costs if he dies, it’s still not leaving us with much of a cushion.

Well, like the adult I am (and have been for half my life! It’s time I get used to it, I guess), I contacted human resources for copies of the policy.

And boy, I’m glad I did. The insurance that we have signed up for for me is $100K on top of the an amount supplied by my job, which is, for my age bracket, 3 times my current salary at that job ($55K). In other words, I have $265K in insurance money on myself. That’s still not 5-10 times my salary, because with freelancing my salary is more like $100K, but it would be enough to pay off major debts (house, car, solar panels, credit cards), and our family could otherwise live on my husband’s salary of $55K. Plus I bet they’d give him a raise out of pity for losing his wife.

I only have $100K on him total, but I could manage with that.

I’ve also tasked him with finding out what he has through his job, but it’s not much – maybe like $50K on both of us.

I know, I know, we should get insurance outside of our jobs but I’m uninsurable because of my brain tumor, and we are hoping to keep these jobs for the rest of time (well, I am, at least, because I love my job. I had a review yesterday and they said they like me, too).

In addition, I found out that when I asked them to remove the insurance policy on Sonya (she has to have an insurance policy through USA gymnastics anyway, and I think if the most unthinkable thing to happen would happen, we would pull money out of the 529 if need be), they didn’t do it. So they owe me $20.

When it comes to this stuff, the pull is to just say “okay, HR, you take care of it,” and walk away. And that generally works. But what if I had been paying for dependent insurance for like 20 years without knowing it? No thank you. So I’m glad I went sniffing around, both for the reassurance that we’re doing better than I thought and for the extra $20.

So, my plan is still to try to stay alive for at least another couple of years so we can become closer to debt free and this is less of an issue, but even if I go down in a fiery plane crash (better if it’s a FIREy plane crash, amirite?), it’ll be okay.

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