bought house, now will or lift insurance?

ktcoil

Hi Myself and my partner have just purchased our first home, what is best to do now, do I get life insurance or a will and how do you get these?


thanks

Caz3121

probably both...(assuming you have a mortgage)
a will states what you want to happen with your assets following death which would include what happens to home
a life insurance policy would have a financial payout on death so you may want something that is linked to the mortgage that covers a sum should anything happen to either of you that would potentially pay off the remaining amount

ktcoil

thank you, yea we got a mortgage.

Chris_Pollard

ktcoil - congratulations on your new home! Great you are thinking of life assurance. Please also think about how you might pay the mortgage (and other bills) if you or your partner is unable to work due to illness and injury. If you're employed, check what is in place in case you are long term ill, and is self employed, I'd hope you've already got some cover. Statistically you are more likely to unable to work than die pre-retirement.
In the meantime, enjoy the new home