Life insurance for DH?

[blueandwhitesquares]

So I recently took out life insurance as I'm 40 with 2 kids: I put it to last until my youngest is 20. Do ppl tend to add more life insurance on/extend it beyond kids so that it covers partners too even when kids grown up?

I was just thinking to protect my kids but then I thought maybe I should protect him too? Not sure hence the post

I think it depends on your particular situation, and where your death would leave your partner mostly in terms of living arrangements for most people.

As in, if the policy finishes when the kids are 20, will you be mortgage free by then? If not, then typically people will set the term of their life insurance to cover to the end of the mortgage so that your home is secured for partner after death as an example.

@Mrsttcno1 u do realise not everyone owns? Ur msg was very presumptuous about mt mortgage when in fact I don't even have one!

I think it depends if your patner could survive without you? I probably would insure for at least a years wages and funeral expenses.

It’s a common assumption for people who choose to have life insurance for a set term, as you mentioned you have (until kids are X age). Typically “term” life insurance policies are used to cover up to the end of a mortgage term to ensure the home is secured & paid if you were to die within that. For people who are taking out a policy to look after kids/family upon death it is more common to take out a “permanent” life insurance policy.

Most people who take out a set term life insurance policy do so to cover their mortgage, hence the assumption.