We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help and Advice needed. Unmarried couple
deb788
Posts: 167 Forumite
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 😶
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 😶
0
Comments
-
How old are your wills?
Any children from this and earlier relationships?Never pay on an estimated bill. Always read and understand your bill0 -
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 reviewI 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 advice0 -
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.0 -
Hiya
Wills are 2 years old and we have no dependants0 -
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.
YHMI 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 advice0 -
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.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards