Will Personal Term Insurance Conflict With the Policy the Company is Getting For My Husband?

I have campaigned for a while to get the company to buy a life insurance policy for my husband. He is an executive and I know of executives at other companies who receive life insurance as a perk. I have done what I could to get the wives of other execs at the company behind what I would call a "suggestion campaign." Apparently the company is seriously considering providing its executives with a $100,000 term life insurance policy, so my campaign may have worked. But I am about to complete the process of buying term insurance on our own and need to know if I should hold off because there could be a conflict.

My husband and I decided a while ago that for the sake of our children we should get insurance on him at least because he is the sole breadwinner for the family and if he should die we would be up a creek without a paddle, so to speak, financially. I kidded him I would get over the loss soon enough but the financial devastation would be longer lasting and harder to recover from. So I spent some time annoyed that we would have to figure out how to afford life insurance and got the idea from a friend that the company should provide him term insurance as a perk for as long as he is employed there. I campaigned for a while at office parties and with some of the wives of other executives that I know well enough to propose such things, but after no response we started the process of getting term life on our own.

So now that I have worked out how to pay for our own term insurance the company has said it plans to do so too. My broker says the only conflict would be having more insurance on my husband than we feel we needed. I have made the decision to complete the process of purchasing a personal term life insurance policy anyway. I now kid my husband that with all of the coverage the family will be able to get over his loss pretty darn quickly.

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