I've done a search for this but only found two old threads.
I'm 39, married with 3 young children aged 2 months, 3 and 5. I last looked into our life insurance situation when we were both working. (mortgage protection and also life insurance through work). However in the meantime I have stopped working and I stay at home. Obviously the mortgage and a monthly wage are looked after should anything happen to my husband. But if anything happened to me, there would be childcare required. Fulltime for the youngest until in school, then afterschool care until they are all in secondary, and even then there might be some kind of supervision required after school (I have no idea about that). Also there would be cleaner expenses.
Any comments about what I should look out for or is it pretty straightforward - a term life insurance for the cost of child care/cleaner? I've calculated we'd be looking at about 250k for 17 years - does that sound right? Just interested to see if anyone has gone down this road and what the experience has been.
I'm 39, married with 3 young children aged 2 months, 3 and 5. I last looked into our life insurance situation when we were both working. (mortgage protection and also life insurance through work). However in the meantime I have stopped working and I stay at home. Obviously the mortgage and a monthly wage are looked after should anything happen to my husband. But if anything happened to me, there would be childcare required. Fulltime for the youngest until in school, then afterschool care until they are all in secondary, and even then there might be some kind of supervision required after school (I have no idea about that). Also there would be cleaner expenses.
Any comments about what I should look out for or is it pretty straightforward - a term life insurance for the cost of child care/cleaner? I've calculated we'd be looking at about 250k for 17 years - does that sound right? Just interested to see if anyone has gone down this road and what the experience has been.