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AIBU?

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Original poster

Do I need life insurance if I have in service death payment through work?

53 replies

Willsnbills · 25/11/2024 11:52

Just the title really, would you take out separate life insurance if you have an in service death benefit of 10 times salary guaranteed from your work place. Are both necessary?
YABU -necessary
YANBU-not necessary

OP posts:
Mrsttcno1 · 25/11/2024 11:55

Personally I would because you could lose your job or find yourself unable to continue in that job at any time. The older you are, the more pre-existing conditions you may then have, the more expensive life insurance becomes and the more likely it is that things will be excluded.

xILikeJamx · 25/11/2024 11:55

I have both. X times salary for death in service, plus value of mortgage on a separate policy.

The issue is if you leave your employer - then depending on your age a new policy might end up quite expensive. Having one in place younger might make it cheaper in the long run

Hoppinggreen · 25/11/2024 11:53

I only took out life insurance when I left my employer to go SE as I always had good death in service benefits