07-12-2008, 08:54 AM
My 2 cents.
You need enough to provide for whomever you may leave behind. "Enough" depends on your situation.
If you do not have a family, no dependents whatsoever, I would get enough to cover funeral expenses. If you have a few assets then get nothing at all, they'll cover your expenses.
If you have a family (husband, wife and or kids) that do not rely on your income. Then "enough" is the costs of whatever type of service and funeral expenses you are going to have + the cost of any loans you may have on cars etc. Not much.
If your family does rely on your income, or you own a home that your income helps pay the mortgage on... then "enough" is 2-3 years worth of your salary + the entire mortgage and all loans (car etc). No one wants to lose a loved one and then go through years of financial hardship.
You need enough to provide for whomever you may leave behind. "Enough" depends on your situation.
If you do not have a family, no dependents whatsoever, I would get enough to cover funeral expenses. If you have a few assets then get nothing at all, they'll cover your expenses.
If you have a family (husband, wife and or kids) that do not rely on your income. Then "enough" is the costs of whatever type of service and funeral expenses you are going to have + the cost of any loans you may have on cars etc. Not much.
If your family does rely on your income, or you own a home that your income helps pay the mortgage on... then "enough" is 2-3 years worth of your salary + the entire mortgage and all loans (car etc). No one wants to lose a loved one and then go through years of financial hardship.
Joe
Excelsior BSB Aug 21, 2009
Excelsior BSB Aug 21, 2009
![[-]](https://www.degreeforum.net/mybb/images/collapse.png)
