Thanks. For us, our incomes are relatively equal. Currently I make more, but I think my partner has longer term higher earning potential. I am not really looking at it as a wealth generating or retirement investment vehicle. Mostly looking into it as part of benefit elections and modifications since the rates seemed low. The main use for life insurance is really just for risk of untimely death. There are things like student loans, and we live in a high cost of living area as non renters so want the security for each other if something were to happen to not have immediate impact on life style. Both of our default work policies offer 1x to 1.5x annual salary. The supplemental coverage we were looking for each was to add an extra 2x or 3x salary. Child care is something we also think about in the event we have children in the next year or 2 as well.
When it comes to supplemental long term disability… What is considered a decent amount of coverage. If the included employer offers 40% salary, with supplemental up to 60%, how do I evaluate what is right for me? It’s about 700 bucks year for the supplemental through my employer.