Investment & Investing

I'm quite risk averse.

Outstanding mortgage balance is £x.

Mortgage cover would pay off the remaining mortgage if either my wife or I pegged it or got critically ill. Mortgage should be gone in 5-7 years anyway.

Also, if I died:

• Work life insurance pays out £2x
  
• Top up life insurance policy pays out another £x (previous job had a very generous death in service policy that would have paid out >£3x so I added a policy to match it)
  
• Mrs GB would inherit my private pension (>£2x)
  
  

If Mrs GB died:

• No extra life insurance (she does contracting so no work provision, we probably need to sort this out)
  
• I'd inherit her private pensions (~£2x)
  
  

If we both died suddenly then our only child would go to live with one of our siblings (she has loads of cousins around her age) and she'd be financially secure (no surprise as she'd inherit a 3 bed flat in London, our pension pots and life insurance payouts - minus IHT of course).

Plan is to live though, spend most of the money in our retirement and only pass on something modest. I think I have inherited £250 in my entire life.