To be 42 with kids no life ins?

Yes your DH needs life insurance! And preferably you as well.

Please tell me I will have lie ins when I get to 42 🙏

What's stopping you working?

Fucking hell. He’s self employed and you’re not earning. Yes, both of you need life insurance. Tonight! Have you made wills?

My Dh died unexpectedly at 52. He wasn’t earning and he was uninsurable by then, too ill. I had some other things though, like inheriting his pension, and thank goodness I was working full time and was able to take some paid sick leave while ds and I were in shock. Life was much harder than it would have been with life insurance though.

Husband needs life insurance first, so that if anything happened to him, you have something to tide you over until you can work. There are different levels of life insurance so he can choose a level he can afford. You can also choose an account that pays X amount whenever you die, or one that pays X amount now, but pays less next year, and less the year after that. The latter are cheaper too

I took one out for me, so that it would cover wrap around care at school and holiday clubs for the kids so that dh could continue to work. Again see what you can afford . . .

I’d suggest both of you getting it.

We both have it and it’s worth about £300k. We have 2 young kids.

Life ins is closer to lie ins than life insurance, and lie ins are something most parents go without.

To answer your question, yes it's very bad and you should sort it asap.

Please get life assurance for both of you, ideally a minimum of 250k joint cover, more if you can especially if you have a large mortgage. You do not know what will happen. Term life assurance isn’t that expensive and will protect whichever parent is left if the worst happens. My exh didn’t despite me lecturing him and it’s too late now

I’ll guess money is very tight and not much if anything left out at end of month?

You should BOTH have it! Get a dual life policy, you need it if he dies! What will you live on? And if you die he will need it to cover time off and childcare. Silly not to have to be honest!

You should def have life insurance. You can get a joint policy that would pay out on the first death- cheaper than two separate policies.

You sound quite precarious financially you both should get it so if one of you does die the other isn’t up shit creek tbh

In that case if anyone should get it… it should be your husband!!

See earlier posts. I have family. Single people often do.

I want to leave my lovely home to my sister. I want to leave a financial legacy to my nieces.

Why do you have life insurance?

Yes, it is a good idea to have Life Insurance on both OP and DH lives.
if you died, your DH would have to find child care, wrap around school care, holiday care, etc (if he works, then it would be around his working hours).
Presumably OP (who does not work), does other things around the house, such as cleaning, or what we often hear as 'household management'. Then either DH would want/ require a cleaner, or have to do these things himself.
All this costs money, so some sort of Life Insurance on OPs life is worth while.
The same for DH, if he works, but died, then the loss of income would have an impact.
The first thing to know is do you rent or own, have a mortgage; how woud these be paid for.
Many parents who work have a 'death in service' benefit, so often do not bother with life insurance, but they could be made redundant one day, and have an accidental death a few days later, in which the death in service benefit would not apply.
Basically, think of what you (or DH) would have to pay extra for, if one of you died unexpectantly.
Many mortgage companies insist on a life insurance on the main earner at least for this very reason.

Most people have a work place pension that will pay out in death to the spouse or named person.

But op isn't currently working, so not accruing pension benefits.

IMO, anyone who has young children should have life insurance. Both parents. You don't know what might happen in future.

It will pay off my mortgage, and then some. My sister will inherit. She is a single parent and I help out a lot.

Single people often have families and dependents. Their loss is often felt.

I think you are going to have to expand on this one🤣.

The majority of adults ages 25 - 55 in the uk have life insurance.

Who is your life insurance for?

I am in my forties, single, no kids, excellent life insurance with critical illness.

if You died tomorrow, could your husband afford to take extended leave from work? Could he afford grief counseling for the children? Could he afford childcare when he returned to work?

Does he have life insurance?

Yeah. I had cover until I paid off the mortgage. But I also have death in service cover with my job.

Put it this way, there are two types of parent-widows; Type 1 can survive financially as a single parent, including potentially giving up work for a while to stay home with their grieving children, and then there’s the other kind.

Type 2 who suddenly can’t afford the house they live in on one salary, or lose their job as they now need to care for their children and they can’t afford a nanny, and other childcare options don’t cover work shifts/work + commute. Ones who are not only grieving and parenting grieving children, but are also thrown into poverty, sometimes even homelessness.

Life insurance helps you to be type 1, along with marriage, a will, being named as the beneficiary of your spouse’s pension and death in service amongst other things.

No one likes to prep for death, but no one wants to be homeless either.

OP, can your partner afford to work and pay for childcare and the house and bills etc if you die? If not, then yes you need life insurance.

If you are in decent health, life insurance is cheap. I've always had it.

You probably need critical illness cover as well.

What would your husband do for childcare if you had an extended period in hospital? Is there family to step in and help.

Unless of course you are very comfortable financially with huge savings to cover all of this.