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Original poster

Life insurance - teacher

4 replies

3in4years · 03/04/2019 10:16

I've been paying for life insurance but it's occurred to me to question it.
My husband has health insurance with his work and I pay into a Teacher's Pension. As far as I am aware, they both offer a death in service payout.
So do I need to pay for life insurance too?
Many advice appreciated.

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DDIJ · 03/04/2019 10:18

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Original poster
3in4years · 03/04/2019 10:22

Thank you for the reply. I had a quick read online. I am part time but I believe they pay 3x your full time salary. Which equals the same payout we would get on the life insurance. This actually doesn't quite cover the mortgage any more as we have moved to a more expensive house since getting the policy.
We currently pay £10 a month for life insurance, so not extortionate, but now our mortgage is higher I'm wondering whether it would be more sensible to overpay that.

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DDIJ · 03/04/2019 10:27

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Original poster
3in4years · 03/04/2019 10:30

Thanks. I needed some sense talking into me. Our mortgage is £160k ish. If I die my dh would get £110 life insurance and £100 from TP. He earns less than me but I would get similar if he were to die. That sounds quite sensible with 3 kids I think. Thanks again.

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