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Billie Said:

Do I need to buy a life insurance because of mortgage?

We Answered:

An independent financial adviser would be able to help you answer this one. I guess it's partly down to how much of a contingency versus risk couple you are. The insurance may be an additional burden that you don't fancy much but then how much more of a burden is losing a partner unexpectedly who isn't as fully insured as they could be.....therein hangs the tail. I don't like to rain on any ones parade but having been put in a similar position, while money does nothing to change outcomes of loss, it goes a quite a long way in terms of increasing security in the ability of the surviving partner to maintain the family home without unnecessary financial worry.
My advice would be that if you think you can afford it then take out the level of cover you need, sit down with your partner & do the math. For example if you have kids and you're the main carer, then could your partner afford child care if you died and he still had to work?
Make the list of pros & cons and talk it through face to face with an expert then you're making an informed decision, good luck.