What level of life insurance cover would be appropriate in this case: Married couple one 43 other 39, 2 children under 7.
Non smokers.
Wife doesn't work, husband earns c. 40k.
Currently have one reducing term life assurance policy (released from an old mortgage), currently around 142k over 16 years.
Husband has 4 x times death benefit.
Currently renting.
Are our children seriously exposed in the event of an untimely death of either one or both of us?
What would be appropriate cover in this case. Got quoted 117 per month for 20 yrs dual life level term with option to continue cover with no extra medical checks. That's for 600k husband life and 300k wife life.
What I'm thinking is if husband died I'd really only have 300k to provide for the family. However the 117 euros per month seems kinda expensive at this point in time (it may not seem expensive if/when I go back to work, and either one of us or whoever would be left to bring up our kids would be seriously glad we had it if someone did happen)...
Non smokers.
Wife doesn't work, husband earns c. 40k.
Currently have one reducing term life assurance policy (released from an old mortgage), currently around 142k over 16 years.
Husband has 4 x times death benefit.
Currently renting.
Are our children seriously exposed in the event of an untimely death of either one or both of us?
What would be appropriate cover in this case. Got quoted 117 per month for 20 yrs dual life level term with option to continue cover with no extra medical checks. That's for 600k husband life and 300k wife life.
What I'm thinking is if husband died I'd really only have 300k to provide for the family. However the 117 euros per month seems kinda expensive at this point in time (it may not seem expensive if/when I go back to work, and either one of us or whoever would be left to bring up our kids would be seriously glad we had it if someone did happen)...