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I've recently been thinking about getting life and disability policies for both my husband and I. I wondered if you guys could give me some input on what some of my options would be and what kind of premiums to expect. I'm getting kind of overwhelmed trying to figure it out.

We're both 31, we have 3 children ages 11, 9 and 5.

My DH is a machinist (lead person in his department). He gets an hourly salary, works a lot of overtime and grosses about $45 - $50k a year. He's been with the company for 8 years now and will probably move further up into management over the next 10 years. One of my concerns is the dangers of his job. Although he works on huge computerized machines which are fairly safe, there's always a chance that something could be programmed wrong and some part will go flying and injure him.

I'm an accountant, so much less chance of injury on the job there. I've been at my company for 2 years, am working towards my CPA license (already passed exams, just getting experience) and intend to either move up within this company or become a controller somewhere else. Right now I'm grossing about $43,000.

I have no health issues, so I suspect that my premiums will be quite low. My DH, on the other hand, is a smoker. He was diagnosed with anxiety about 2 years ago and is on medication for that (which has helped immensely). Otherwise, his health is fine.

I've been offered life insurance policies through my credit union and have also looked at what's available through NYSSCPAs, which I'm eligible for. I also have a $100,000 policy through my current employer which they pay for.

I'm a little confused about what we should be looking at, though... 10 year, 20 year, 30 year term? How much coverage on each of us? Should we opt more for disability for him and life for me? Any input?
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