Morbid - but I just worked out how I would be financially if something happened to DH

[KatyMac]

& rather surprisingly the benefits I would get plus my wages (if I was capable of working) would just cover me

There was only about £5 a month difference after the mortgage being paid off & the extra tax credits etc I would be eligible for

This is the first year since DD was born that this would happen & I am rather surprised.

what a bizarre thread

I know but I think it's something we need to consider

I would like more life insurance on him - but we can't afford it as he has a pre-existing condition

He does much better - if they lose me

it is not a bizarre thread at all IMO

I think we all need to know how both partners would survive should the very worst happen

could you cope with the grief of losing your partner AND then your home, and the children's school and your community and friends?

It is an important thing to work out .. well done KatyMac

(I'd be rather better off)

Agree that we need to consider it, but I just found it odd to post about it

I would also be rather better off........DH wouldn't be much different from what he is now.

Well so would I but for the last 10 yrs keeping our home has been a real issue - if DH went. It looked like we would have to move in with my parents - nightmare

I am also updating our wills this year - as opening the nursery (if it ever happens) will change our finances quite a lot

I think a lot of people get life insurance & then never update it - and in 15 years it can become relatively worthless

Have you been watching Eastenders too?

No, seriously I think it is wise to think about these things. If (god forbid) something did happen at least you know you wouldn't have to worry about that side of things.

if dh karks it i get about 87k

if i kark it he gets 96k

with insurances from our employers

once dh sighned up to some dodgy insurance thing where if you lost your thumb you got approx 1.5k up to 10k for an arm etcetc

in times of real skintness i have been known to ask him if i can just chop his thumb off

LOL - actually they'd probably be fine - I still remember the day I walked into his house for the first time after we met - it was SPOTLESS!!!! and with a dirt road outside and no hoover that was no mean feat (feet?)....

Never watch Eastenders

I always do it at this time of year - it's our wedding anniversary next week & it has always been a real issue for me - more so since DD was around

The whole point of the nursery was to support us if something happened - now I don't necessarily need it, I'm not sure of the future

You're not being morbid at all!

You're being responsible. My grandfather died seven years ago and my grandmother had no idea about her own finances. She had a lot of learning to do as well as grieving.

You are being responsible and an equal partner - which is what being married is about.

Oh, I had to go through this in the summer when we thought my DH would need heart surgery. Fortunately he doesn't yet, but it was a surprising exercise to go through, as I realised I could potentially struggle. We currently both have very well paid jobs, and no mortgage, but becuase his heart issue is a pre-existing condition, most of or life insurance policies won't pay out on death as a result of it. DH is planning to stop working soon anyway, so without the cover his current employer provides I would likely be left with little payout, if anything. A very surprising realisation!

I've sort of done these sums too. If something happened to dh, I would be a wealthy but desperately unhappy widow. If something happened to me, dh would be utterly up the creek with only a very small paddle. I know I need a life insurance policy to cover me but I never know where to begin.

KatyMac, is his pre-existing condition diabetes?
Asking as I have currently given up searching for reasonable cover for DH in case he dies, but if he did, at the mo, me and the kids would be screwed.

We have (I hope) sorted it so things need not change materially for either of us. So DH would get enough to cover childcare and some household help (and some time off work if he wanted it), and I wouldn't have to rush out and get a job.

I agree it is important to plan.

DH and I are a fairly financially geeky couple - we both set up life insurance policies as soon as DS was on the way, mortgage would be paid off plus a monthly income. I was surprised that the life cover was fairly cheap (although we are young-ish and don't have pre-existing conditions). Neither of us would be wealthy, but manageable.

It's not morbid, just practical, as I would think that sorting out the mortgage would not be top of my list if I lost DH.

dh is rather overinsured at the moment - so I would be substantially wealthier than I am now.

The mortgage gets paid off if i die or get a serious illness, and dh will get a small amount of death in service from my employer. I would like to be insured so that dh could stop work if I died, but I haven't sorted this out.

No it's chronic asthma developed before the policy was taken out - so we pay a lot for it

If my dh died I would be considerably better off in the short term, but can't possibly afford to insure for what he will earn in next 20 years - unfortunately for us death in service benefits are based on basic rather than bonus. But I'd still be OK.

If I was to die, he'd be way better off. In that a full time nanny plus housekeeper, plus pa would probably cost him significantly less than I do /

once our finances are a bit mroe settled, i need to look into life insurence for myself and maybe peter. but his would have to be done through specialist insurers due to his transplant.

If I die, he gets absolutely loads of money due to work providing 6x my annual salary, plus various independent life insurances etc

So I am worth lots more dead than alive and he still hasn't murdered me yet despite all the provocation.

He however is rather underinsured. I wonder if he really trusts me?

it is always best to be well insured, me and steve did ours 10 years ago and a lot has changed since then, me and the kids will manage when he dies and the mortgage will be paid off but i would urge people to make sure they have enough cover.