As our finances have only got worse and not better over the last year, I am trying to find places we can make serious cut backs. We have cut back to Ã‚Â£40 a month on luxuries which includes going out (infrequently), hubby's tobacco and very basic Sky TV (we're tied into a contract). I need to get rid of even more. I am even (despite hating the idea desperately) advertising for a sharer for my horse, and if one is not forthcoming I will have to sell him
. I'm devastated because he's really the only thing that's holding me together at the moment, and I feel like I'm losing everything I care about because OH is either too selfish or too stupid to see what he's doing to us. He is still holding out for a miracle and makes a vague attempt to go through the jobs paper once a week, but I haven't seen a single rejection letter for months, even though he claims he's applying for jobs and being turned down.
Anyway, my post was supposed to be about health/disability insurance for mortgages. When we bought our house, we took out this insurance that would supposedly pay out in the event that one of us lost our job through sickness/disability/redundancy etc. We tried to claim back in November when Jay lost his job, but because the "official" story is that his contract ended, they wouldn't pay up, and I knew they wouldn't honor the claim if we'd gone with the barebones of the truth which was that they wanted him to quit, so it was mutually decided that he would.
However, we're still paying almost Ã‚Â£40 a month for this insurance. Why on earth am I paying for it?? It just seems like such a waste of money and I get the impression that they will fight tooth and claw to avoid paying out in the event of a claim.
Is there an actual reason to have this sort of insurance? Is it worth hanging on to?