‘Life insurance/assurance’
You are quite right that if I keel over today she’d get nothing more than a paid off mortgage.
Unfortunately, she thinks I’m more likely to end up in a pile close to the runway than under a car on a road.
What we’re (she’s) looking for is a payment to cover the next 20 years of salary if I’m not here to earn it (as well as having the mortgage paid off!!)
Another option is to give her a flying lesson. The draw back is that i think she’ll be hooked and we can’t afford for us both to fly!