I get used to strange questions from my children, but my daughter came out with an even stranger one than usual the other day. We were talking about having to live within a budget and the importance of not living beyond one's means. At this point my daughter asked "Dad, what would happen if you died?"

I don't think this was out of concern for me, but rather worrying where her next mobile top up would be coming from.

I explained to her that as I was a member of the company pension scheme there would be a lump sum payable to her mum, along with a pension for the rest of her life. Also, whilst we do not own our house completely, if I did die there was insurance in place to pay off the mortgage. So although things might be a bit tight, she thankfully did not need to worry about being thrown out on the street.

Whilst she seemed happy with the answer, a more worrying thought came to mind - what would happen if my wife died? Whist the mortgage would be paid and there would be a small payment from her part-time employment, would we have enough income to live on and cover all the extra expenses?

Perhaps I need to look at the life assurance section of the site!

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