A Thread for After Debt?

rising_from_the_ashes

All done .... did the pot spreadsheets too - they'd be just as bad to lose!

JulieGeorgiana

I back my spreadsheet up weekly in a seperate file. And place it on my TB drive monthly with my photo's... which is then kept in a fireproof safe!

I've lost mine before...

I felt sick at the thought you'd lost yours Li! Don't scare us like that x

heyboots

backinbusiness wrote: »

I totally identify with this - essentially it's a good thing I suppose, but we do need to allow ourselves the odd treat now!



I also worry about creating the wrong impression - you know, being smug? But it's not about that - it's about moving forward and continuing to share information and good ideas.

BiB

Please please dont think people might resent you being here! I have just started my (looonngg sloooow) journey and seeing that people really have managed it keeps me going, otherwise it seems impossible!! please keep postinga nd reminding us that we CAN do this!!

backinbusiness

Thanks heyboots. Nice to have you along. And another Scot I see!

BiB

LianneH

hey folks. We have suffered a recent bereavment and so are currently in the middle of organising a funeral. Got me thinking though.... what life insurance or other policies have you in place, should the worst happen?

JulieGeorgiana

I have 3 policies, 2 are my oh, one is life and critical illness depreciating to the value of the mortgage, and a level life insurance for me (he also gets death in service from work). I have 1 policy, level insurance for the value of the mortgage plus some.

We get seperate policies, so if something happened to us both the children are more then provided for. Then we paid for a will with trust to make sure the money is used how we want

Hope that helps.

Ps. Seperate policies cost only pennies more the joint. but if you both go, your children benefit moat with sepetate policies

Hope everyone is well, we are in Norway, its so amazing here

And DD is now saying dada

rising_from_the_ashes

Li so sorry to hear your news.

For me, it's a slightly different scenario as I have no dependents.

I have an income protection policy which would cover the (very) basic household costs if I was made redundant - it's been going up in cost a lot and have been wondering if it's still worth it but there have been redundancies where I work so I'd not be able to take out another one so have stuck with it just now.

I'm also lucky in that I have a 4 x salary death in service (lovely thought!) cover through work, which would pay off my mortgage ...... need to have a think about how I'd want it to go to tho'!

Mort

LianneH wrote: »

hey folks. We have suffered a recent bereavment and so are currently in the middle of organising a funeral. Got me thinking though.... what life insurance or other policies have you in place, should the worst happen?

Sorry to hear that. We have had the same happen here last week, funeral was Wednesday.

We have a policy that will pay the mortgage on death, I have a payment protection policy should I be made redundant as well. Mrs Mort has a bit of additional cover from my pension schemes death in service benefit.

YoungBusinessman

I think I should go for a payment protection cover and maybe a minor injury cover aswel? Say i break my arm or need a back injury sorted etc. how do I go about covering my salary? Would I not be best just saving 10% net as emergency fund and let that build up?

rising_from_the_ashes

YBM - before doing anything, check what your employer offers in terms of sick pay (should be in your T&Cs) - ours is very generous (tiered depending on how long you've been there and goes up to 6 months full pay) and *should* cover things like you've mentioned