Help and Advice needed. Unmarried couple

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deb788
deb788 Posts: 167 Forumite
in Insurance & life assurance
Hi

I would like some advice if possible please.

My partner and i have a joint morgage and bills are in join names.

We are unmarried but have been together 17 years

We both have wills naming the other as sole beneficiary and the same with life insurance and we also have a morgage payment protection insurance ,i just wondered if this is sufficient provision in the event of anything happening to either of us ?

Sorry if this is a daft question im a worrier 😶

Comments

  • Robin9
    Robin9 Posts: 12,128 Forumite
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    How old are your wills?

    Any children from this and earlier relationships?
    Never pay on an estimated bill
  • YHM
    YHM Posts: 650 Forumite
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    Sounds orderly enough.

    Budget dependent, I would review your MPPI and look to see if a more rigid PHI product would be suitable. MPPI usually has a restricted claim period (2 years) whereas PHI could pay out until retirement. Its a more solid approach to protecting your income, but can be a tad more costly. That would be my first port of call to review
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
  • elsien
    elsien Posts: 32,882 Forumite
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    Power of attorney in case one of you becomes incapacitated.
    For both finances and health/welfare. Saves an awful lot of stress in the event of an unexpected illness/accident.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • deb788
    deb788 Posts: 167 Forumite
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    Hiya

    Wills are 2 years old and we have no dependants
  • YHM
    YHM Posts: 650 Forumite
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    Hi Deb

    Best thing to do is either sit down with an IFA or a Mortgage Broker. They will be able to review your current provisions and see what gaps need filling.

    YHM
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
  • trucdev88
    trucdev88 Posts: 5 Forumite
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    Hi guy,
    I think it depends on insurance company's policy. In my country, there is Bao Viet insurance, sole beneficiary must not belong to your family. I can choose freedom.
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