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Oh, DH, you are so silly

justmakingthebest's picture

We close on our new home in 4 days! YAY!!! I am so excited!

Well, one of the things that we needed was to figure out what this $100 allotment he has going out of his pay is for. He thought it was a life insurance policy for his 2 bios and BM's other 2  bios. Turns out it was a 100K policy on HIM and 15K each on SS19, BM and BM's other 2 previous bios. SS15 isn't even on it! It is also a whole policy that matures in 4 years and will have a 22K cash value. He had no idea. 

We asked about taking the other kids and BM off of it and how it would affect the rates. The way it is set up, the rates stay the same because they are all included in one rider on the policy. So, we just changed the beneficiary to me (it was BM still). So now if BM were to die in a painful, horrible accident- we get paid! LOL... I mean, that would be so sad and tragic of course. 

The other fun part is thanks to him being on the hook for 1/2 of SS's college- this will take a chunk of that off our plates! Score one for us.

Men did he not even know that he had this policy??? He just kept saying "It's some insurance thing for the kids". I am really glad the lender made us get documentation for it and get it switched over! I am still cracking up that if BM dies we get 15K! Talk about a vacation if she kicks the bucket!  


Step-girlfriend's picture

Nice!! We sometimes pray for Crazy's death, but at the same time that means skids full-time. Such a double-edged sword!

futurobrillante99's picture

Is there no way to cash it out early? Glad you caught this and changed the beneficiary!

CLove's picture

Great catch!!!

DH is going to be getting a life insurance policy very soon with me as sole beneficiary. I told him he will have to trust that I will do what is best for his kiddo, munchkin, whom I love.

BethAnne's picture

It’s not a bad idea to have her insured as there will be extra expenses for your husband if she were to die.