{"id":1092,"date":"2012-01-27T22:41:11","date_gmt":"2012-01-28T03:41:11","guid":{"rendered":"http:\/\/www.holypotato.net\/?p=1092"},"modified":"2012-07-18T22:21:55","modified_gmt":"2012-07-19T03:21:55","slug":"life-insurance","status":"publish","type":"post","link":"https:\/\/www.holypotato.net\/?p=1092","title":{"rendered":"Life Insurance"},"content":{"rendered":"

“I have yet to meet a father who didn\u00e2\u20ac\u2122t see little feet emerging and immediately feel the need to run out and throw himself at an insurance salesman.” — Garth Turner<\/a><\/p><\/blockquote>\n

Wayfare and I just had a very short discussion about our life insurance needs. I off-handedly remarked some time ago that one of the factors that maybe should go into the typical rent-vs-buy analysis is the reduced need for life insurance as a renter, but since I didn’t know what the cost was, it was hard to model (and I assumed, trivial).<\/p>\n

Anyway, with a new spud under cultivation, I thought it was worth discussing seriously, and we very quickly agreed that we didn’t: she makes more than I do (though as of next week, “0” is an easy bar to hurdle), but both of us are capable of supporting a single-parent family on our own. If we both die, both our sets parents are well-off enough to take in a grandchild and not become destitute themselves (at least with our savings to help out).<\/p>\n

As renters, we don’t have a mortgage to discharge or huge transaction costs for moving, so it would be reasonably easy (at least financially) for the survivor to move to a smaller, cheaper place. And the aforementioned savings would help with any burial expenses, additional childcare costs, or bereavement leave.<\/p>\n

A few online calculators confirmed that our life insurance needs were basically zero (varying between a $150k policy and negative $80k depending on the calculator and assumptions used). I went ahead and got a few quotes for a $100k term-10 policy, and it’s not terribly expensive, but not trivial either: about $150\/year for someone my age. This might all change once I see little feet with their widdle toes, but for now, hey, we don’t seem to need it.<\/p>\n","protected":false},"excerpt":{"rendered":"

“I have yet to meet a father who didn\u00e2\u20ac\u2122t see little feet emerging and immediately feel the need to run out and throw himself at an insurance salesman.” — Garth Turner Wayfare and I just had a very short discussion about our life insurance needs. I off-handedly remarked some time ago that one of the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/posts\/1092"}],"collection":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1092"}],"version-history":[{"count":0,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/posts\/1092\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}