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:

moderndilemma · 09/11/2024 20:05

Do you get death-in-service benefit from your employer? Would it cover your outstanding mortgage?

My dh had death-in-service which would have been sufficient for me; I was self employed so I took out life insurance sufficient only to cover the mortgage. If you are relatively young the risks are pretty low so it shouldn't cost too much.

Does your dh have life insurance?

September1013 · 09/11/2024 20:05

I have life insurance that pays off the mortgage and also a second policy from Aviva that pays out a six figure lump sum so there’s money for day to day living costs as well.

If your partner doesn’t earn enough to support the kids on his income alone then you should definitely consider it, as should he.

ohtowinthelottery · 09/11/2024 20:00

DCs are now adults but as a SAHM/Carer many years ago a financial advisor valued my role at nearly £100k per annum (ie what it would cost DH to buy in services to replace my role and enable him to carry on working/earning). So yes, I did have life insurance.

CosyAutumn · 09/11/2024 20:00

I would advise doing it through a broker/ financial advisor. They will get you the right level of cover for the best price. They will also prompt you to review your cover periodically to make sure it still suits.

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