Do I need life insurance? Advice needed please

[Hkgyvd]

I have a mortgage but never got life insurance. I don't know if I need to consider getting it now?
I am sixty, my mortgage is nearly paid off, property is worth approx 350,000. I work full time. I have three adults children. I have a partner (not married) and we are talking about him moving in with me.
I probably should have got life insurance years ago when I got my mortgage, but it was not suggested to me and somehow I didn't think about it. I do have income protection insurance, and house insurance of course.
Is there any benefit in getting life insurance at this stage? I think if might be costly at my age? I don't have much in the way of health problems apart from some osteoarthritis but I am overweight.
Any knowledgeable thoughts welcome. Thanks

I suggest that you and your partner need to do some financial planning in particular to ensure what happens when one of you dies, pensions & protecting your childrens inheritance.

The need for life insurance - if any will come from this discussion.

At 51 with no health issues, non smoker, I was quoted £50+ per month for a £50,000 life insurance.
My existing one finishes next year (we re mortgaged several years ago when we moved, I should have renewed before I was 50 and the price jumped up). I’m just not getting any more as if I die there is enough equity in the house for young adult DC to sell and buy a smaller property outright.

I suppose it depends on when your mortgage would be paid off. What would happen to the house if anything happened to you? Do you have enough in savings to pay for your funeral?

We own our house now but all the while we had a mortgage we had life insurance so that if one of us died the mortgage would automatically be paid off.

Neither of us has life insurance now but we have enough in savings to pay for our funerals.

We are (early) retired and no longer have any life assurance.
We did when we had a mortgage and children at home because the other partner would have struggled financially alone if one of us passed away.
These days we could both manage the bills alone on our pensions / investments so there is no need for life assurance any more, and it's expensive at our age / health.

Thanks for the comments

Please please please see an advisor. I cannot stress enough the sheer terror I experienced when my husband died last year and I had zero chance of taking over and affording the outstanding mortgage. He didn’t get life insurance despite being advised to do so by his FA and the mortgage provider. Fortunately for me, his death in service benefits finally paid out - but not until a full investigation into our lives and several solicitors were involved. Dh never thought what happened would happen.
I appreciate everyone’s lives and finances are different- so please seek (and take) professional advice on behalf of those you love for after you’ve gone.