Life insurance confusion!

[34saving]

There's a problem with life insurance -- it seems that almost everybody who wants to talk about it is also biased since they're trying to sell it. So, how about a survey?

1) How much life insurance do you have?
2) Who is insured?
3) What kind is it?
4) Why?

1) 2 years salary and college benefits for dd
2) dh
3) The kind an employer gives
4) His employer gives it and I can't figure out what (if anything) else we should have

[zakity]

We have enough on me to pay off the house and cremate me. We have enough on him to pay off the house, cremate him, and the boys and I to live off of for a few years (if I am careful) or to supplement my income because I wouldn't make enough to support the four of us and pay for daycare and whatever else.

[mjrube94]

Hubby gets his through work, 6x his salary, because he's the main breadwinner. I have a 20-year term through John Hancock (much cheaper than my group policy at work), because I do bring in a salary, and care for the kids. (This is something a lot of people overlook. If something happens to a SAHM, the spouse would need to pay someone for childcare, potentially housekeeping, etc.). Either would be enough to pay off the house, secure the kids' educations, and allow the other to not feel rushed into figuring out how they're going to manage.

As for where you get it, competition and the internet have made it very easy to shop around, and I do so once or twice per year. You may think that the group plan at work has to be better, but that's not necessarily the case. Start with lowermybills.com or termlifequote.com(?) and see where you come out.

[dolfinrose]

DH gets some thru work and we have one additionally, combined it would pay off all of the bills and leave me and our 3 boys with enough to live for about 3 years if we live more on he frugal side if I didn't work. I have a policy that would pay off all the bills and leave plenty for hubby and boys to live off for a year, knowing how my hubby spends money, but knowing that, I am making a will that some off that money must be put away for the boys for when they are older.

[BAGAGT1]

I have coverage thru work 4X my salary. My wife has insurance thru work, I think it is 250K. Then we each have term life for another 250K.