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If I were to die, would my husband need to pay my student loans?

I am debating whether I should get more life insurance to cover what I owe on my student loans if I were to die tragically. I already get some free life insurance from work, about $16,000, but I can pay extra to get around $50,000. I owe about $40,000 on my loans. They are the federal loans, both subsidized and unsubsidized through NelNet. My husband didn't even know me when I acquired the loans. I just wanted to know b/c I could use the extra money on my paycheck every week instead of buying extra insurance at this point in time when I have little assets and no children. I don't plan on dying or anything - not sick, not suicidal. It's a "just in case" sort of thing b/c the last thing I want is for him to be responsible for my stuff if I ever die. I know all about disability and how life insurance goes up, etc...please try to just answer my question instead of trying to help with all my other financial issues. I have insurance and disability and home owners insurance. I have my bases covered as far as those things go, I just have a general question about student loans. I just don't want to pay for EXTRA life insurance now if it is not necessary. PS. my life insurance premium will go up anyway as my pay increases accoridng to my current plan, so I'm not worried about the cost. Also, I'm not going to wait until I'm 40 or 50 to get life insurance again, just until I have kids, like in 5 years. Thanks for the advice though! :)

Asked By: Mary H - 6/4/2009
Best Answer - Chosen by Asker
You should meet with a financial planner because you currently have a lot of financial issues that you face and will have many more issues over your life... More
Answered By: insuranceguytx - 6/4/2009
Additional Answers (5)
i afraid you are going to be stuck with the loans
Answered By: paulcondo - 6/4/2009
 
No.. He wouldn't have to pay any of your bills.
Answered By: eryca k - 6/4/2009
 
He would not have to pay your student loans. But, you may want to increase it anyway. $16,000 is just enough to bury you and maybe cover a month or two expenses if he takes some time off work to grieve. If his pay alone will not cover your household expenses, then you want some more insurance let him stay in the... More
Answered By: Lauren F - 6/4/2009
 
He is not a cosigner in any way ... then he is not liable... More
Answered By: Michael M - 6/4/2009
 
Most likely they are not inheritable, by your husband, BUT, your estate would stand good for them. So if you jointly own the house, your half of the house would have to be sold to pay off your debts. If you have no joint assets, it "goes away" when you die.
Answered By: mbrcatz - 6/4/2009
 
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