Originally Posted by Nick Hearne
Is this not why people take out life insurance?
I know that is why I pay for it!
I reckon 65% of adults only have life insurance to cover mortgage payments and most of those can't afford to take out seperate policies on their life. Iam open to being very incorrect and am basing that on people I know.
My life insurance is paid for by my company and I also get death in service benefit. However my mortgage insurance is paid by me and it ain't bl**dy cheap!
Hence why, whenever I go and do something stupid my misses has a smile on her face........if I go bye, bye she's a very wealthy and eligible 27yr old. (No you can't have her name and address!!)
I think I'm reasonably well off but I can afford to pay the extra a month for separate life insurance. So imagine someone in the low income bracket who has four kids of school age, doesn't own their own property, wife has a part time job and both are trying to pay into pension plans because they want a life after they retire (as there will be nothing in the pot by then).
1.) What is the average wage in the UK these days?
2.) All the fathers on here will tell you 4 kids at school age ain't cheap.
3.) I'd imagine average rent isn't too bad in the UK for a house with 4 bedrooms??? (Guessing here)
4.) Part time wage is probably minimum wage.
5.) Late start pension plans are expensive and the way they are performing is diabolical......I could do better in a savings account!
So if hubby dies through an accident......house isn't guarenteed, pension lost for him (unless its a R.A.T.) and she probably can't keep up the payments on her pension, 4 kids to clothe and feed, bills to pay and no chance of a proper job for the wife as she's worked part time for a local shop all her life and has no skills to go back to work with.
God I'm making myself depressed!
You see my point though.......not everyone is as lucky as we are. So whilst I don't like the litigation thing......I find it hard to blame them for doing it.