| Originally Posted by DWandMJ |
I have more or less an opinion poll...and please be completely honest if I'm far off in left field....
FI stated that once we're married, he will modify his $500,00 life insurance policy to include me as a beneficiary, however, he said he would make me 50% and each of his parents 25% to ensure that his brother and sister were taken care of.
When I expressed my opinion that he has a responsibility to me and his subsequent children, and I wasn't fond of the idea because after taxes consume 50% that would leave me about $125,000 toward a mortgage, funeral expenses, his children's college, help out with the loss of 2/3 of our household income, etc... meanwhile his brother and sister look at it as an opportunity to go on a shopping spree on someone else's dime, he told me that it really bothered him that I felt that way and asked how selfish could I be that I wouldn't want his siblings to receive something. Sure they would lose a brother and his parents - a son, but their futures wouldnt come to a screeching halt the way his widow's would.
I realize this is a terrible thing to think about, but realistically, is my perspective on the whole thing entirely warped?
i think if he is just thinking about YOU, the first gut reaction might be "wow, what a greedy b*tch! why can't she share?" LOL ... but the fact of the matter is that you plan on having children, and it is as much his responsibility as yours to provide for them. your home will be your joint expense, your debt belongs to both of you, etc. you are NOT entirely warped (lol) ... you are thinking of the future of your family-to-be. i think it's worth discussing making you the single beneficiary of the life insurance policy, but also drawing up a will that can allow for a MUCH SMALLER amount of money left to other family members. they do NOT need 25% ($125,000?) each! their income isn't being halved, and their children aren't suddenly fatherless!
worth asking ... do YOU have your own life insurance, and if so, who are the beneficiaries?