Life Insurance / Will advice

[EmmaMaya]

Hello all, I am a single mum who has always put off the though of future planning. However after a bad experience with covid I want to make sure everything is in order for my little one should the worst happen.

I have made an appointment with a solicitor to begin the process of writing my will - what sort of things should I be considering for this?

And then after googling I realised I should probably have life insurance and critical illness insurance. I am going around in ciricles researching these so wondered if anyone can share any advice on getting either?

Beyond covid I am healthy / early 30s and we live in a mortgaged property.

Do you only have 1 dc?
What assets do you have?
What would happen to your dc if you died? Who’d look after them? What financial provision will you leave for the person looking after them.

Good that you are planning OP. Life insurance & critical illness protection is vital. Sadly I had to claim CI, the policy paid out very quickly. I don’t know how old your child is, but your will needs to cover your wishes should you no longer be able to care for your child, also your solicitor will be able to advise should your child not survive you, usually issue of flesh, should your adult child have children or other beneficiaries should both you and your child be wiped out, not pleasant terminology I know but things to think about. Also your will can detail the funeral arrangements that you require. Needless to say, we have sorted our wills recently. Pleased it’s done, we can forget about it now, knowing that it will make our DS’ life easier.

Make sure that if you have a will / life insurance someone knows where it is kept 😂
The worse thing about sorting this stuff out if someone dies is not knowing where everything is

Firstly you could have an appointment with a broker to discuss your situation, your priorities, and your budget. Some policies might be more relevant than others. Similar to a pp I have claimed on a Critical illness policy and it was life changing.

A will is also a must, before we wrote ours we sat down and thought about guardians for our children, that was the trickiest thing.