life insurance - how much cover?

[bumpybecky]

how much life insurance cover do you have?

we've got bits of cover on several policies, plus extra from DH's work and I'm not sure if we're over or under insured

I am covered for 270k which is morgage & bringing up 3 kids.

Dh is 150k for morgage & 1dd

My outstanding mortgage balance is covered and I have a 'death in service' thing of 3 x salary from my employer should I snuff it.

It all depends on what you can afford and how big a financial dent your loss would be on dependents or a partner. BTW If you're feeling mortal and thinking about insurance make sure you've also got your will/s sorted out.

Chil I hadn't thought of that - we have wills, but we've had two more children since then, so better check the wording

Without wanting to sound morbid... in your will and considering insurance, contemplate the possibility that you both die at the same time. Means things like thinking about guardians/trustees for children & putting what they inherit in trust until they are 21.

we did the guardians bit, and have specifies trustees (not the guardians) and we've also said what we want to happen in total catastrophe (all of us go at once)

having said all of that, it was a few years ago and I think I've changed my mind! will go and dog out will in a minute