CAUTION
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Life Assurance - On Arthur's death:

A lump sum of £50,000, would be paid to Mavis.

The Mortgage would be paid off.

Mavis would receive a widows pension of 50% of Arthur' s expected pension (25% of his salary), increasing in line with Retail Prices Index (RPI).

Protection for Mavis whilst the children are still dependent, which could be up to Brian's 22nd birthday. As a minimum, the sum assured should be enough to replace the lost income less reduced outgoings (including any extra costs such as (childcare).

Term Assurance - is likely to be the most cost effective cover, although the most suitable could be Family Income Benefit.

Whole of life with critical illness - To cover loss of  income/childcare for both Arthur and Mavis, both while the children are dependent and in later years.

(See also Additional considerations).

On Mavis' death:

The Mortgage would be paid off.

Her £16,000 income no longer comes into the family budget.

Similar to above, to protect Arthur whilst the children are still dependent. The sum assured should cover the loss of income less reduced outgoings. Some allowance could perhaps be considered for the cost of childcare.