Hi mate,
I have been there twice within 6 years! I don't have a family but I still have a couple of mortgages and it was tough.
Like some of the posts above, 6 months later and there are no regrets. Mind you my packages were way smaller as I was only in the company 1 or 2 years max.
The amount you are getting is quite a large amount and should be enough to carry you through to another job. If you are concerned about the less pay by staying within the company, and you know you are worth more, then why not take the risk, accept the redundancy package, have some faith in yourself and begin looking for a new job?It will happen!