Quality of Life Insurance?

[FurbysMakeSexNoises]

So we decided to purchase decreasing life insurance to cover out mortgage- effective if either DH or I die. We also both have sufficient income protection for if ill.

DH has recently heard about Qual of Life insurance which I think may be a kind of add on to life insurance- to keep your income (and this would be for me more than him) at the same level as we are accustomed to.

Anyone have any experience of this and thoughts?

I think it's an American product, it's not something I am aware of in UK.

Are you saying that you are thinking about some additional life cover so that as well as the mortgage being redeemed there will be money available to replace the lost income over a number of years if one of you dies? This can be achieved with straightforward life cover that will pay a lump sum - as you then draw down from it the required amounts each month if you have had a claim and invested the proceeds - or some will pay the benefit as a monthly amount, sometimes called Family Income Benefit. This can be helpful if you're not used to handling large sums or if it would be detrimental to you in other ways if you had a large capital sum, e.g. might affect state benefits.

Sorry to post and run- thanks for hat advice- yes I do wonder if we should get life insurance for more than the mortgage- will have a look with DH - we should also get a death in service benefit if during working age- and some of each other's pension if not. So may all be overkill?!