Does your husband have life insurance?

Lana - posted on 05/10/2013 ( 8 moms have responded )

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This question is for stay at home moms. I am very supportive of your choice so please do not think that I am undermining your priorities. Answer these questions for me so I can clear some of my ignorance.
Are you college educated with any kind of degree?
Does your husband have life insurance?
Should divorce occur do you have any prenuptial agreements?
Is alimony part of the divorce?
Do you work part time? Weekends maybe? Work from home?
I am asking because I know two stay at home mothers with 3+ children whom are getting divorced. These women have no college experience or anything. I feel AWFUL for them. I want to know how exactly a stay at home wife marriage works.

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K - posted on 11/01/2013

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If you ever do get divorced, take out an life insurance policy on your ex. You may have to pay the premium, but there's no reason he shouldn't agree.

Here's an article about it.

http://indiancountrytodaymedianetwork.co...

In any case, even a few hundred thousand dollars worth of term life insurance is inexpensive these days.

If you ever do need to look for life insurance, be sure to get the amount of coverage you really need and comparison shop to get the best price.

A good website for both is QualityTermLife http://www.qualitytermlife.com

[deleted account]

Those rumors have been around for ages. Mostly, they are untrue. There are sahm's who are unprepared for life on their own, but most of us have made plans in the case that we are forced to financially support ourselves.

Lana - posted on 05/10/2013

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Okay cool. Some pretty nasty rumors are said about SAHM being lazy, stupid, and uneducated. I figured the rumors weren't true so I thought I'd ask. Thanks ladies.

Jodi - posted on 05/10/2013

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Oh, and if you get divorced, you don't necessarily get your ex's life insurance, so relying on that if something happened to him AFTER you divorce is not a good idea either.

Jodi - posted on 05/10/2013

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I am no longer a SAHM, but when I was:

1. Yes
2. Yes, as do I.
3. No. We did consider it, purely because we both already had children and needed to protect their interests too, but in the end, it worked out that we both had similar assets and we addressed the rest in our wills.
4. Alimony is bullshit. Like Shawwn said, I am an adult and have always been capable of having a job. I have been through one divorce - I was perfectly capable of supporting myself and my child.
5. I did work part time - we have two businesses, so I helped with those from home. I then also added to my university degree last year.

I would never allow myself to be 100% dependent on my spouse. What would happen if something were to happen to him? I need skills too. Every woman needs some type of skill that she could support herself if necessary. It happens (and not just because of divorce). The best insurance for a family is for both parents to be capable. And as has been said, that doesn't necessarily mean a college degree. Relying on alimony to get by is dangerous.

♫ Shawnn ♪♫♫ - posted on 05/10/2013

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When I was a SAHM, The answers were as follows

1 Yes
2 Yes, we all have life insurance
3 no prenup, but divorce is not nor has it ever been an option, and after almost 30 years of marriage, I think we've got it figured out
4 Why in the bloody hell would I need alimony? I'm an adult, capable of supporting myself
5 Depends on your definition of "work". I ran 6 paper routes from 3 am -6 am daily. I did not consider that work, however, I considered it my own quiet time to exercise my dogs, and have some quiet time to myself

Now that my husband is the SAH, the answers remain the same.

IMHO, any person who is willing to remain totally dependent on their spouse for every living need is a bit naive in this day and age. EVERY adult should have the basic means to support themselves, even if it's starting at McDonald's flipping burgers.

Yes, sympathy for the situation is in order, but ultimately, those women chose their path in life, and did not choose to include work or school experience.

Kelly, on the other hand, doesn't have a college degree, but is a very successful woman in her own right, so I'd say that she's the proof that no matter what the circumstances, they can be overcome and conquered.

You may want to make sure that you're there to support your friends as they go through this difficult time in their lives. I'm sure that they thought much as I do: We made vows, and everything will work out. The difference is that my spouse and I work together to build the home, and maintain it, and we have for almost 30 years. Some marriages don't have that level of communication, which is a pity. Your friends will need a lot of support, and they do have my sympathy for the situation.

[deleted account]

Are you college educated with any kind of degree?
No, I was diagnosed with cancer at 17 and lost my scholarships due to failure to maintain full time enrollment (treatment was 4 hours from campus, online classes were a thing of the future, and treatment was intense--visits 3 times a week, plus month long hospital stays.) By the time my cancer was in remission I was 21, had already started a profitable company earning more than I would have in the field my degree was supposed to be in, and met the man who would become my husband. I never went back. Sometimes I do regret that decision, as I will never be able to have a regular job for someone else and earn what I want to earn, I will always have to create my own jobs.

Does your husband have life insurance?
Yes! And so do I. EVERYONE in charge of supporting another person should have life insurance.

Should divorce occur do you have any prenuptial agreements?
Yes. I had started 2 of my companies before I married my husband and while I was very willing to share my income, and capital if I sold them while married to him (which I did), I wanted to make sure they were safe in the event of a divorce--I poured a lot of blood, sweat, and tears into them and I wasn't going to give half of them to a man who didn't love me. I also have a bank account which he has no rights to incase I am ever in a position where I need to leave and might not have access to our joint accounts. It also won't be frozen in the event of his death. Most of the money in this account was put there before we married--I knew I wanted to be a sahm, so I new I needed a viable escape plan incase he were abusive. I added more when I sold my businesses because I knew I would not have them as an income source anymore and would need more "start up" money to leave safely.

Is alimony part of the divorce? No. I don't need alimony.

Do you work part time? Weekends maybe? Work from home?
Not really. I do a lot of volunteer work in my community to keep my professional skills up to date should I ever need them for a paying position again, but I don't do any paid work. I do almost all of my volunteer work while my son is in school, but I try to involve him whenever possible. I feel that we should all work to better our communities at all times and that sahm's should be keeping their professional skills honed and keeping up with professional networks so that if they are ever in need of a job, they can get one.

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