I'm sure I could have shortened down the title, but couldn't think. :lol:

I was curious......if something happens in which DH can't work anymore (illness, permanent injury....whatever), do you have a plan in place as far as your mortgage, bills, etc. getting paid? Since we're SAHMs and we all pretty much depend on DH's salary to pay the bills, I was curious to know what kind of insurance you have that will cover your monthly bills if a crisis were to ever come up in which your DH wasn't able to work? or do you not have one and will you go back to work?

i think this is an important question, and something to think about before we all become/became SAHMs. :)

Good question! I'm sure dh set something up, just can't remember if it was through work or a seperate insurance policy :scratch: I'm going to ask when he wakes up :)

We have our savings, medical insurance, and some type of disability coverage. I'm not sure what it covers on disability. And this is all at his last job. I don't know what exactly we have now that he has changed jobs.

We don't have a specific plan though for what we'd do. I assume if he couldn't work, I would find a job. We'd have to scale down... he makes a lot more than I would, even if I'd been working consistently up to now. But I could support us. I think.

A few years ago, we were in the situation where we both were laid off within weeks of each other. We didn't own a home (we backed out of a contract the day he got laid off). We stayed with my MIL for a while until he found a new job.

You're talking about disability insurance, as Cami said. Generally there are two kinds - short-term and long-term. Short-term covers a fairly short period of time and pays more. THen long-term kicks and covers a longer period of time but pays less. It's often offered by employers, but I'm sure you can get policies on your own.

Dennis

DH has disability ins. through his job as well. I need to see what exactly it covers though.... Also, I've been wanting to compare that versus getting our own policy. I worry that if he's ever incapable of working (in his case...a serious injury because of the danger of his job) that even the long term policy won't be enough to cover our mort., bills, etc. So it's something I think about, to be sure we're covered enough. If I needed to go back to work, I would. But I wouldn't make anything close to what DH makes. I guess I need to get a move on comparing w/ outside policies too. Thanks guys. :)

We have life insurance.....and I'm attending births so I have some cash flow in. ;)

Chris has disability insurance and of course, I would go back to work to make up the difference. I think his policy (both short and long term) pays 60% of his salary.

Michael has disability insurance as well. I can't recall the specifics of it, but I believe it's X amt. a day for everyday he's out of work. It's a special policy set up for firefighters.

If something were to happen and that still wouldn't be enough, I'd go back to work full time. I know that there is no way I could make as much as him but what I could bring in would suppliment his disability insurance so we should be fine.

Oh and of course should he ever pass away he has life insurance too.

When we refinanced the house two years ago we added a disability policy to it so if he's hurt/out of work/disabled, it will make our mortgage payments. IIRC, there wasn't an extra charge for it, or it's really really tiny. We don't have anything like that on our consumer debt (cc's, my van). He used to have an AD&D policy through his employer, but dropped it when we read the fine print on when it would pay out...really freaky bizarre accidents like he'd have to lose both hands before it would pay out, or stuff like that.

As for the day to day bills and expenses...I would go back to work. I'm currently working on my elementary education license, but if I wasn't done yet, I'd start subbing every chance I got. Wouldn't pay near what he makes, but we could at least get benefits and some cash coming in for a while.