Wednesday, June 24, 2009

In The Event of Death

Sounds like a depressing subject, right? Yeah, I guess it could be, but the fact is everyone does die. I have been really thinking about the fact that I am not protected adequately if something happens to Dave. He is the breadwinner and makes a great living for us but with his income suddenly gone I'd be left with some SSI and a few other investments it would not come anywhere close to what we have now. I would be able to live independently but not in our home. More like a small apartment somewhere less expensive. I've been thinking that if I had the tragedy of losing my soulmate how could I cope with having to sell and leave my home right away too? It's just too much for me to think about. If I had the ability to wait one year before making major decisions I should be OK. So I contacted our Insurance Agent (we have every insurance except life) to find me a policy that will work to pay the house payment for one year. It's going to be expensive I'm sure because my hubby has this awful smoking habit *steaming*. But darn it - if he can spend all that money on cigarettes he should be able to make sure I'm not forced out of my home.

I was wondering if anyone has known anyone with this experience - where one spouse is completely dependent on the other spouse financially and there was a death. How do you deal with your future possibilities? Does this seem greedy to you? I don't know but I feel it is a way of taking care of myself so that my family won't be burdened. See, if I die first it won't impact Dave financially one bit. In fact I'm sure he'll come out ahead - LOL.

He has just been working like a dog this past year and I worry about his health but there isn't anything I can do to get him to change. But I can be prepared.


Sara said...

We used to have life insurance and it covered both of us for the percentage of our income. It was nice having that safety zone. Insurance companies are picky though and don't always like to cover smokers. I'd talk to a financial planner and have them help you.

Anonymous said... specific experience with this, no. Thank God. But I am pretty much in the same situation and you raise some very valid points. I see now that you've posted an update so all is well, but I think D.Jones and I have some talking to do as well! :)