My husband has a $100,000 life insurance through his work if something would happen to him, but we don't have life insurance for me.
I am a stay at home Mom, so I don't have an employer to give me life insurance. My husband is the money maker, I just want life insurance for me in case something would happen to me...just enough to cover a funeral cost and a couple thousand extra....maybe just a $10,000 policy.
Is there a reliable life insurance plan I can get for about $10-15 a month? I don't smoke, I don't drink, Im healthy and 24 years old.
A 20 year term life insurance policy, for about $250,000, should cost you maybe $10 to $15 a month.
When you're buying a low value life insurance policy like that, it's really just burial coverage, and you should probably stick your $15 into a special bank account and call it "funeral expenses" to cover the $7,500 or so your family may need for funeral and burial expenses.
You should be able to save $10,000 and "self insure" your funeral and burial costs even if you do some part time work at home, in just a few years.
First you set the goal - in your case, it's funeral plus a couple grand. Then, you pick the best, cheapest life insurance product. That would be, a savings account, for your goal. Or a certificate of deposit.
As far as cheap life insurance. The lower the life insurance coverage amount you buy, the more expensive it becomes. The vast majority of what you pay in the first few years, goes to pay commissions and overhead and the cost to issue the actual policy. That's why you can buy a $10,000 whole life policy (you can't buy a term policy that cheap) for $15 a month, OR, you can buy a $100,000 20 year term life insurance policy, for under $100 a year.
Globe Life Insurance and Mutual of Omaha, are two companies that would happily sell you a low value life insurance policy directly, with minimal or no contact with an agent, if you want.
Here's how you can learn more about stay at home mom life insurance and compare life insurance rates and plans from leading life insurance companies.