Mum was left worried she’d lose home after husband’s death

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Purchasing life insurance can often be last on the priority list, especially during periods of high inflation and financial uncertainty. According to a survey, almost two-thirds (60 percent) of respondents don’t have a life insurance policy in place. One mother felt the consequence of not having life insurance when her husband sadly suddenly passed away 13 years ago, hurling the family into a financial crisis.

Mum of four, Gill Lawson, 62, was due to retire the same year of her husband Bob’s untimely death. Mr Lawson had a stroke and a heart attack, which came as a huge shock to the family.

Mrs Lawson explained that her husband was generally healthy, didn’t smoke and kept active by coaching football regularly.

Retirement was no longer on the cards and losing Mr Lawson’s full-time wage meant Mrs Lawson had to swap her part-time job for 10-hour work days.

When discussing the impact of the loss on her finances, Mrs Lawson said: “We really struggled to get by and I still do. I had no money for the funeral so my mum had to help and I did get a small grant from the Government. But losing a wage like that was really tough.

“Bob was a Charge Nurse at the local hospital so it was a good wage. For months I was worried that we’d lose the house but I learned to live within my means.”

Mrs Lawson continued: “We did always think about getting life insurance but it was always put on the back burner, as our money was always needed for other things. We have four kids so whenever it came to buying it, something always came up and you just think, ‘Oh it will never happen to me’.”

Since becoming the sole earner, Mrs Lawson has just enough to cover her monthly expenses including the mortgage, utility and grocery bills. Any little treats or new clothes come in the form of birthday and Mother’s Day presents from her children.

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When asked how she felt it had impacted her children, Mrs Lawson said: “The guilt is unreal. We were able to help out my eldest daughter when Bob was alive with her wedding.

“But when he passed, we couldn’t help our other children with their wedding costs, or when they moved out.”

Over the years, Mrs Lawson has been asked why she didn’t sell the house to release some money, but she explained that it is her home that they worked hard to build over the years and wouldn’t want to give it up. She said she had also sought financial advice which indicated she would not have saved herself that much by doing so.

Mrs Lawson said: “Something I’ve hammered home to my children is to make sure that you have life insurance to make sure your family is protected. My kids have seen how I have suffered for over 13 years and wouldn’t want to go through it themselves.”

Mrs Lawson continued: “I luckily managed to get by but I wouldn’t want anybody to be left in my situation, working all hours and not having any time or money for themselves.

“If I’d had life insurance, I wouldn’t have spent years of my life worrying about how I was going to pay my bills, and I would have been able to treat the kids a lot more.”

Philip Stubbins, managing director at Money Expert commented: “Stories like Gill’s highlight just how tough it can be when there is a death in the family and there isn’t anything in place to help financially. Gill is a huge inspiration with her unmatched strength and resilience over the years.”

However, Mr Stubbins continued: “Situations like this are too common and can be avoided by ensuring you plan for your future early on. By Gill sharing her story, we hope it will help others avoid being hit so sorely when it comes to their finances following a loss.

“When planning for the future and considering your ongoing health, taking out a life insurance policy is very important, in fact, the earlier the better.”

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