Life Insurance?

[AmicaNemica]

Does anyone still pay for life cover? Mortgage paid off, and I am still working with generous death in service benefits. However, I am supporting DH who has retired & living off state pension and 2 DSs in their 20s who haven't found their way yet.
I have indicated that the lifestyle we have is c/o me working. I am thinking they will be OK with current arrangements...?

Does your works pension have a widow/widower component. If so then if you die he'll get a portion of you're pension on your death as well as his state pension, would this be enough for him to live off. Would he be entitled to other benefits?

My life cover is linked to the mortgage, which when I move in the few weeks will get paid off. New life cover should I take it out I guess will cover funeral costs. Yet to work out whether it is better to have a funeral plan in place as better alternative. Bit of a morbid subject but one I need to grapple with as it makes it easier if the family know going forward.

Yes my pensions can be split between DH/DSs and then there is considerable equity in the house. Both our parents sold up when they became widow/ered just because the upkeep of their houses would have been too much. This helped with their living expenses.
My view is that we have sufficient provision and liquid assets to pay for funeral expenses.
But wondering if anyone continued with life cover as a separate potential income stream which I think isn't taxed?
Asked a friend and she said they didn't bother (sorted for pensions though).
The policy expires later in the year so I'll see what the broker offers to replace it.

Yes my pensions can be split between DH/DSs and then there is the house. Both our parents sold up when they became widow/ered just because the upkeep of their houses would have been too much. This helped with their living expenses.
My view is that we have sufficient provision and liquid assets to pay for funeral expenses.
But wondering if anyone continued with life cover as a separate potential income stream which I think isn't taxed?
Asked a friend and she said they didn't bother (sorted for pensions though).
The policy expires later in the year so I'll see what the broker offers to replace it.

Is your life cover whole of life or term insurance? Do you have guaranteed premiums?
Some people have life cover to meet an inheritance tax liability as it will pay out prior to probate and as you already mention it’s free of tax.