AIBU to ask what you have in place?

[EZA15]

Inspired by another thread, who do you have life insurance with; and if you have anything else in place (as well as life insurance) what is it? I want to start getting prepared. I know I've left it late at 32 but better late than never and all that....

We don't have life insurance. However there is a death in service grant payable to my husband through my pension if I died whilst still teaching.

If he dies, I know his parents would see me alright, they have lots of cash/investments and capital in their house. Worst case scenario I would sell the house and downsize to something I could manage on just my salary. My parents would help out too.

Both my parents and my in-laws offered to pay for me to have a private operation recently if it meant it would be done quicker, so I know they are willing to step up, and my in-laws are waiting cheque book in hand for when my full pay sick leave entitlement runs out. Luckily my boss is being very kind and hasn't put in many sick days for me, I think a week, even though I have been ill since Xmas and have only managed part days or working from home/hospital! I only get 2 weeks paid sick leave at the moment, and I need a week off for the actual operation/recovering, although hoping I can again work from home for some of that.

Dh has death in service at 4 times salary plus a cheap life insurance policy that would cover the mortgage.

I've got 100k cover which dh is to spend on keeping the dog (day care/dog walking as he works long hours)

We are paying a ridiculous amount for critical illness and life insurance but it means if one of us got very ill or died then the other could afford to take a good chunk of time off work to support the kids. If both of us die the kids would have a siginificamt amount of money to help them in life but also to allow for their guardian to take time off work to help support them without affecting the finances of their own family. We both have families who would help out, but this brings us peace of mind.

We also both get death in service of 3x salary. We will reduce the insurance when the kids are more self sufficient.

I don't have children but when I do, I would absolutely have this set up. I think it's one of the things you have to do for them. I've also paid for my funeral (I am 35!)

We both have death in service benefits through work and private life insurance. Mine is around three times the value of the house, his is more (double mine I think) because he had access to a brilliant deal through his employer a few years ago.

It means if something were to happen either of us the other could massively cut their hours or stop working altogether for quite some time without worrying about money. If we both went, there's a trust set up so the dc would be well provided for, as would the family member who'd be looking after them. We've often joked about how we're worth much more dead than alive!

Thank you everyone - who do you have life insurance with? There are so many out there and you hear so many bad things that I don't want to be caught out by choosing the wrong one? What should I be looking for in one?

We have life insurance to pay off the mortgage and also give a monthly income should either of us die.

DH also has critical illness insurance as he's the main breadwinner. ( Whether they'd pay if he fell out of a tree trying to prune the damned thing himself I'm not sure!).

Don't forget Wills and Power of Attorney too. You can do POA online at gov. site. You never know what is around the corner e.g. stroke or brain injury so never too soon. With POA you can manage finances and make health decisions. That said we're now waiting until DD (nearly 14) is 18 so she can be back up as well as DS.

Many thanksBorders I'll have a look later on today