With the arrival of our second child, I felt it was time to face the stark reality of our own mortality and look into getting life insurance for my wife and myself. We'll both soon pass 40 and time will probably only speed up from there. The insurance agent just emailed to let me know everything is ready if we'd like to go ahead with creating the policies. But, there's a catch.
We signed up to get two 1-million Euro policies covering the next 20 years, and chose for a version that scales both payout and premium to a regular increase to match average inflation.
Anyway, the catch: no problem, they're all set for the 1M for me. However, because of my wife's declared profession on the form ("homemaker" or "mom" or "source of sanity"), she'll only be covered for 750,000.
Excuse me?! What number do you put into a spreadsheet to figure out an annual Net Worth(tm) like that? Now, couple this with the fact that I have to sign our tax return but her signature (hidden on page 3) is optional.
A little more gender bias, anyone?