Who has life insurance?

aliasojo

I've been considering my mortality lately, hence the topic.

I wondered if some of you wouldn't mind sharing your insurance situations?

You have it?

You don't?

Your OH has it and/or you feel you don't need it?

Are you covered for every eventuality or just certain things?

I have been covered by a policy that was set to run for a certain time and it runs out very soon. It probably wasn't the best policy to buy but I was young and much less knowledgeable back then.

Anyway, just wondered if everyone treated life insurance as important as the air we breathe or is it one of those 'must get round to it' or 'just don't have it' things?

fannyanna

Not bothered.

Husband and I both have some form of cover through our employee benefits (pays out 4 x salary if we die).

PasturesNew

I've never had it - never needed it. I've nobody to take care of once I go.

lilibet1

IMO ins is very important and we do insure most things. Critical illness, redundancy, life, pets, washing machine even lol. The thing is people say its not important until its needed. This yr wash machine broken down twice,
Pet ins claim of 2000.00! We claimed on mortgage pro when dh had a car crash and was off work for 9 months so yes to me it's worth it.

Hth

thorsoak

Had it whilst at work (usual 4 x annual salary) but when we both retired, decided it would be useful to have cover for a small amount - just to cover any initial costs when either of us popped our clogs. Sadly, OH was refused cover - because of life threatening implications due to accident over 30 years ago - but I took out cover (not from any of the companies that advertises on afternoon TV) - it costs less than the pet insurance on the family dog - and the family will get a sum of some £15,000 - which will be enough to put me in my little wooden box, pay any outstanding bills and have a good party - but not enough for it to be worth them pushing me down stairs

They'll have to see whats left after I've been skiing for anything else :beer:

floss2

Me & DH both have life insurance. His is incorporated into his endowment mortgage. Mine is 2 term policies taken out when my sons were younger, to provide for them in the event of my death. When they expire I won't renew as they don't need to be looked after any more and I have death in service benefits through my employer, as does DH, who won't be buying more when the mortgage is paid.

System

I dont have any though hubby has got enough savings to cover my funeral. If he died though i'd have to pay his funeral out of his savings. I spose i'd just have to provide his bank with a death certificate and the bill. I'm not sure how it would work.

Triangle

If it was just me and DH we wouldn't bother with it (and haven't) - but now that little man is here we see it as a priority. We shall be searching online for an appropriate policy this weekend.

dragonette

I don't, however my family are big on life assurance (so if you outlive the policy you get money back). Just to throw another possibility into the mix

dandelionclock30

I can only see the point getting it if you have a mortgage and it would leave your partner in the lurch if you died.
Otherwize the state will pay for a very basic burial/cremation if you leave no money. So let them sort it out I say.

Nicki

We took out an endowment policy which still has about 10 years left, but have repaid mortgage early so would just get a lump sum if one of us died before it expires. DH has death in service benefit through work. I am a SAHM and while kids are still under 18, DH has me insured to the hilt as it would cost a fortune to pay a nanny and housekeeper if I popped my clogs. When kids are grown up though, I don't suppose it would be worth continuing to insure me.