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AIBU?

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Original poster

Do you have life insurance?

79 replies

WaffleDogg20 · 09/11/2024 19:46

im a SAHM with a part time job. I absolutely love it but the only thing me and DH argue about is that I don’t have life insurance and he really worries how he would manage with 3dc and working/ paying for the mortgage etc.

so iv decided I should get it really just incase.

who are you with and what do you pay?

OP posts:
Hoglet70 · 09/11/2024 20:43

I don't have a mortgage to pay but DH and I both have life insurance with critical illness. It's not a massive amount but would enable one of us to have a couple of years off work whilst the other one was dying/dead.

the80sweregreat · 09/11/2024 20:41

Yes ! Always have had it.

BeensOnToost · 09/11/2024 20:41

Does your employer offer any death in service venefit or does your pension have a partner benefit if you die?

Pleaselettheholidayend · 09/11/2024 20:40

Yes we got life insurance together when I was expecting our first - we weren't married at the time so wanted to be extra careful but we've updated it as we've gotten married/moved home/had more kids.

It doesn't hake long and is very much worth it for the peace of mind.

TheKitchenSink34 · 09/11/2024 20:39

We got life insurance and critical illness cover when we got our mortgage. £45 a month for both of us with Aviva.

Doggymummar · 09/11/2024 20:38

Yes, the younger you get it the better value it is.

TheWittyBird · 09/11/2024 20:35

Ye me and hubby have it

JawsCushion · 09/11/2024 20:31

Yes. Got it very early on for both of us. Paid off the mortgage if he died. Would get a nanny if I died. It is about to end so I need to die in the next 20 days for the kids to get any money.

HSBC £8.75 a month.

RandomUsernameHere · 09/11/2024 20:31

Yes, we've both got death in service and a hefty life insurance policy with L&G for £106 a month.

Clearinguptheclutter · 09/11/2024 20:30

ChaosHol1 · 09/11/2024 20:26

You can get life insurance with critical illness cover included, ours does.

Show quote history

Yes indeed ours are both through Royal London, two separate policies though
you can get them separately or together or one or the other

Letitgoe · 09/11/2024 20:28

Yes because we still have a mortgage and would struggle for childcare if either of us became a single parent. It’s £300k none depreciation for 25 years I think

VintedoreBay · 09/11/2024 20:27

Yep, definitely. Life insurance, income protection and critical illness cover.

Through a broker.

yutulin · 09/11/2024 20:26

I personally don't rely on work related payouts because if you leave that job for whatever reason and then have to take out your own insurance it could be a lot more expensive to do if you've developed any kind of medical conditions in the meantime or just generally being older (though appreciate the older you get the less you likely need as kids grow and mortgage reduces) my work policy has always just been a bonus.

ChaosHol1 · 09/11/2024 20:26

Clearinguptheclutter · 09/11/2024 20:21

yes we pay but statistically you’re far more likely to not be able to work due to illness than die, so IMO it’s more worthwhile paying for critical illness cover, but that’s a lot more expensive

i don’t personally think I am with insuring (DH definitely is, earns 3/4 times what I do), he felt differently though

You can get life insurance with critical illness cover included, ours does.

BoobyDazzler · 09/11/2024 20:25

Yes, we both do + critical illness. Enough to pay off the mortgage. We’ve also both got reasonable >200k death in service payments

maddening · 09/11/2024 20:24

I do through work there is a basic level and I do salary sacrifice to increase.the level to 12 times my salary

ChaosHol1 · 09/11/2024 20:23

I've got a policy with Aviva that's to pay off the mortgage if anything happens to us and my financial avisor sorted it, and we have another policy that would just be for anything it was needed for with Zurich. I also have death in service through work, dh is self employed so I'd not get the same benefit.

yutulin · 09/11/2024 20:23

Oh wait you're the one reluctant to get it, yes of course you should!! It's very selfish you haven't so far. Even if you don't earn much, if your DH was left with 3 kids on his own how would he manage to work, the house and 3 kids on his own? Your financial contribution extends beyond your part time work.

Mumistiredzzzz · 09/11/2024 20:22

Yes, took it out through our financial advisor when we bought a house. Husband and I often joke that finances would be better if one of us died 🤣
We also have critical illness cover each

Clearinguptheclutter · 09/11/2024 20:21

yes we pay but statistically you’re far more likely to not be able to work due to illness than die, so IMO it’s more worthwhile paying for critical illness cover, but that’s a lot more expensive

i don’t personally think I am with insuring (DH definitely is, earns 3/4 times what I do), he felt differently though

yutulin · 09/11/2024 20:20

Of course. One of the first things I did after applying for child benefit (did things a bit backwards and had kids first!) we have individual life cover up until our youngest is 21. Why would you argue about it? Just get it, it's your responsibility.

Moier · 09/11/2024 20:17

No..I've paid for my funeral.
I paid for my house out right.
I gifted my two daughters a million each and bought them an house each.
Grandkids are taken care of too.
My will is made.
Everything is cosy here.

Aliflowers · 09/11/2024 20:14

I have life insurance taken out at the time of our mortgage which essentially clears the mortgage should one of us pass away. Plus 100K payout

I also have a death in service policy in work which will pay 3x my annual wage to me DH in the event of my death (plus 5% to any dependent children). My DH also has the same

RM2013 · 09/11/2024 20:07

We had our cover through a financial advisor it pays off the mortgage with a sum left over. Plus I also have death in service cover through work so fairly well protected. I would advise seeing a qualified advisor and they can work out how much cover you’d need and give you a price accordingly

Greentreesandbushes · 09/11/2024 20:05

I have royal London and legal and general. I’m worth over £1m dead

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