We have some life insurance, enough for the immediate needs. I am the beneficiary our oldest as our second. The larger policy we lost years ago when I lost my job due to disability.

His pension is just under $400 a month, and will continue to me if anything happens to him.

The largest impact would be the loss of his pt earnings which we put in savings for use now for property tax, fire insurance and things like tires, repairs in the home, catch up on high utility bills.

I thought we were prepared, the house is paid off, the property tax is a killer. If you are on nearly fixed incomes it is so hard to keep up with the property taxes. School taxes are even higher then the property taxes.

Our large savings went when taking care of an adult child's household, we paid off their home when they were disabled. With another major surgery I am not sure when he will be back on his feet.

Thanks Mz. Migraine for catching that.

You might want to buy down if the house is paid off... Consider looking at areas (even other states) with lower property taxes, as well as programs for the disabled and seniors.

At the point when you or your hubby passes, it might make sense to move in with one of your children at that point, and some expenses will drop. You might not be able to drive a car for example.