Long time lurker, first time poster.
I am currently signing up for my company's open enrollment, and would greatly appreciate some advice from the community reading my insurance/disability selections.
About Me:
I am a 31 female, currently living with my long time boyfriend, aged 32. We anticipate getting married in 2017, and having our first child in late 2017 or 2018. We live in a HCOL area. I have no current health issues.
I am debt free, with approximately $25k in cash and around $85k in retirement savings. My salary is $70k, stable job.
He has a mortgage balance of around $300k, no other debt. Although I do not know his exact current savings amount, I believe he has around $15k cash and $100k in retirement. His salary is around $120k, but fluctuates. His job is also stable.
My Questions:
My company offers the following insurance/disability options and I am not sure if I need any of them. In the past, I have opted out of all selections, but I am planning on getting married and possibly having a child in 2017.
1. Basic Life & AD&D Insurance: $1.85/paycheck
2. Voluntary Employee Life: ranges from $.37/paycheck for $10,000 to $12.92/paycheck for $350,000
3. Long Term Disability: $8.62/paycheck
4. Short Term Disability: $2.31/paycheck
5. Flexible Spending Account: Able to fund up to $2,600 pretax, but only $500 rolls over year to year. I currently have $350 in this account from 2016, and I do not anticipate any other health care expenses in 2016.
I am thinking I should sign up for the short term disability and maybe contribute a couple hundred dollars to my FSA. Are any of the other insurances advisable to someone in my situation? Any other advice or considerations I should take into account?
Thanks!