RS: This topic moved to Dealing with Debt board as not really suitable for DAK. Shadow left on DAK
Looking for advice to offer after finding out that two unfortunate couples have lost their partners but didn't have any life insurance.
Both stand to loose their homes and main breadwinners. Unfortunately I know little about benefits available or any other help that might be offered in certain circumstances.
So knowledgeable Lemons, any useful advice to offer or experience to share.
I don't know full details of each couple but assuming that savings would be relatively small if any at all. There partners were both working so I assumed that there also might be some sort of pension pot, again I expect this to be small ish as both were young.
So would the funds into pensions be returnable? As single mums now with kids (x2 and x3) some school age others below with part time income only would mortgage interest be paid from benefits? Wasn't sure if it's classed as a loan now instead. Does selling up mean your making yourself homeless so no entitlement to etc
Are there widows benefits etc
Yes it's relatively cheap for life insurance, I think a tenner a month or so and I can't understand why they didn't have any. Thought you need to have some to get a mortgage in the first place but maybe if funds are tight it gets cancelled afterwards..... And you're young so it's never going to happen etc.
Thanks in advance for any help or information.