To be 42 with kids no life ins?

[ididabigfatsmelly]

As above in title

just asked my sister her thoughts and she said well I don’t work so does it matter? Which got me thinking as I’m clueless.. I don’t work no, my husband does as I’m home with kids as no childcare..

Sorry?

🤷‍♂️

As above in title I have no clue what your title says or means? 🤷‍♀️

Is it bad that I’m 42 with no kids and no life insurance set up?

How old are the kids?

8 and 5

I guess it depends what your desired outcome is. If I understand you correctly, you are asking how someone else funds something in the event of your demise. On a superficial level, you won't give a shit at that point as you'll be gone.

Being less flippant, are you worried about how your husband would cope, or what would happen to your children? There are many answers to that.

You are not alone though, I suspect many don't have life, critical illness or injury cover.

I thought it was a typo for lie in

Thought you meant no lie in’s.

When do you plan to return to work? What does your husband earn? What security does he have in place?

I think it completely depends on your circumstances. If you have a mortgage I’d say it’s a necessity, however me and my husband both work and if either of us passed the survivor of us would struggle on one income and our mortgage is large. It also gives some wiggle room so we wouldn’t feel we’d have to rush back to work when we’re grieving. Unless you have a lot of health conditions life insurance is relatively cheap.

Well if the unthinkable happened, how would your husband cope? Would he have to hire childcare? Would he have to reduce his working hours? Is the plan for you to go back to work at some point to help pay off the mortgage before retirement, and could your husband still achieve that goal alone? It's not just about the children, your partner should be a big factor also.

Yes you should get life insurance if you can afford it. Whether you work or not is irrelevant.

I think if you have a mortgage then you should have life insurance to cover that

@HappiestSleepingwell everyone always talks about mums should have life insurance and I don’t so was thinking maybe I should? Do ppl on here have life insurances? I guess it would cover the funeral costs if needed,help out my husband and kids for a bit financially for however long it lasts.. could help him towards rent or anything really I guess..

Isn't life insurance what the husband buys his wife before he offs her and runs off with his mistress?
Are you in UK op?

Well, if you died would you be leaving your family in an untenable financial position eg. have to sell the house as couldn’t afford the mortgage? If yes, it would be sensible to have life insurance in place. If no, not necessarily required.

The older you are the more expensive the premium so it could also be worth thinking about it now if you think you might need it later and can afford the monthly premium now.

You need life insurance if you have kids. period.

Yes both me an DH have life insurance worth 200k.

If you were to die, how would your husband take care of the kids? Would he have to give up work? Hire a nanny? And a cleaner and housekeeper? If so, you need life assurance to provide money to fund those things.

Yeah, it is an American thing.

is there life insurance in place for your husband? It usually just covers paying off the mortgage if someone dies so you don’t have to worry about earning 2 incomes after they are dead

No it’s way more than funeral costs - it’s usually for £200k-400k. It’s so the remaining partner can work + have nanny or choose not to work for a while to support kids through grief, and to clear the mortgage on death

Life insurance is not an American thing. You have life insurance when you buy a house in the uk.

Is it bad that I’m 42 with no kids

But now your kids are 8 and 5? Have you been drinking in the sun OP? Your posts aren't making much sense.