Life insurance on my partner

Emmab19973

Hi everyone, just even typing this makes me feel uncomfortable! But here goes, I have been a single Mum with two boys for quite a while, lived in rented accommodation but managed to save up a deposit and get myself on the housing market with the share to buy scheme. I met my current partner good few years ago now but have kept our houses and finances separate as I wanted to be independent and not having to rely on anyone.  

Last year my Mum got ill with cancer and the whole family looked after her, devastated that my Mum died last October after six months.
So after a lot of talking and thinking on my part! We both decided life is too short, myself and my partner, we love each other, kids get on so I've put my house on the market and sold it. Hopefully it completes the next few weeks, we have been living together since the lock down, so if we can get through this we can do anything.

My question is, I have money coming back to me, which isn't a huge amount but enough to start some savings, there is inheritance which is in trust for us and hoping it won't be given for many years to come ( my lovely Dad has many many years )
But what happens if that worse happens to my partner,I won't have enough to buy myself a house?  I never thought about it in this way before, this time last year everything was fine, but how life changes.
My partner has a little mortgage, I have no intention of moving into the house and asking to be put on his mortgage, that is his and for his children ( who are adults )
But can I apply for a life insurance on him? Or get him to apply for a life insurance and I pay for it? We have discussed this and he is 100% OK with it but he has no will, can he put the life insurance in trust for me? Is that OK?
Also, his children are nice, but quite rightly the house if the worse happens is theirs. Will the life insurance even if in trust for me, would it be theirs too?? 
Sorry for the questions, many thanks

Weighty1

You can only take out life insurance on someone when you have an "insurable interest" on their life.  Generally this is seen as being the case when people are a couple and especially so if they live together.  If a plan would be written into trust the children would have no claim on the proceeds.  The only way they could receive any of the money is if the trustees decided to distribute the money to them instead of you, however, typically you'd be one of the trustees, if not the only trustee, so it's not like you'd give the money to anyone other than yourself.

Emmab19973

So as a couple living together, even though I’m not on the mortgage. I have an insurance interest? Many thanks for the reply by the way. 

Weighty1

Yes.  Typically this wouldn't even be asked about.  So many people live together without being married that it's not really something most insurers even both asking about and those that do allow you to simply record your status/relationship as "partners".