Life Insurance For Mums
Find out why life insurance for mums is a must and how Mummy insurance might be the perfect fit for you.
Becoming a mum is one of the most life-transforming experiences. And being a mum is an emotional rollercoaster. Amongst all those feelings of joy, love, and excitement, you’re sure to experience your fair share of worry. That’s what makes life insurance for mums a key investment worldwide.
Grant yourself peace of mind with a policy to ensure your little ones are financially supported whatever life throws your way. Let’s face it, we never know what’s around the corner. And with dependents in mind, it’s definitely a good idea to dot those is and cross those ts.
Whether you’re about to welcome a new baby, have already established your family, or are planning a pregnancy in the near future, Mummy Insurance could be the ideal solution to help you push those worries aside and enjoy each and every precious moment. Scroll on to learn more about why life insurance for mums is an absolute must.
Why is it so important to have life insurance as a mum?
Becoming a mum is a huge responsibility and one of the main reasons to consider investing in life insurance. Generally, life insurance policies can be set up to pay out a lump sum or replace a regular income. This is awarded to your survivors if you were to die during the agreed policy term.
Life insurance pay-outs can be a God-send in traumatising and unforeseen situations. Not only are they handy for helping with things like covering the cost of mortgage repayments and household expenses in general, but they can also cover childcare costs and all those other expenses that are part and parcel of raising a little one.
Whether you’re the breadwinner in the household, a stay-at-home mummy, or a single mum, there’s a life insurance policy out there for you. Any insurance pay-out will help to minimise the disruption of your child’s life as much as possible.
While the majority of people have a good understanding of the importance of life insurance policies for working mothers, it’s important to highlight that it’s just as crucial for stay-at-home mums. Think about how many everyday chores around the house a stay-at-home parent is responsible for. And all of it unpaid. From childcare in general to daily school runs and even meal-prep, there’s a lot of responsibility that falls on the shoulders of a stay-at-home mum. And should you die, who’s going to do all of that unpaid labour day-to-day?
A life insurance pay-out can help with a reduced income should your partner suddenly have to navigate parenthood alone and reduce their working hours. It can also help should they suddenly need to find the funds for additional childcare costs.
The benefits of having life insurance as a mum
In short, having life insurance as a mum will give you peace of mind that your family is financially protected. This means you can spend more time enjoying being a mum and less time worrying about what lies ahead. Nobody knows what’s around the corner. But, a life insurance policy means your loved ones are protected no matter what.
Much like life insurance policies in general, life insurance for mums will supplement your salary and secure any financial assets in the event of your death. This is a huge comfort to loved ones left behind in a whole new world of worry.
It also means that your family will be able to continue paying bills and financial responsibilities without issue. And financial stability is something we could all benefit from, especially in the wake of losing a loved one.
Types of life insurance and different types of cover you can get
The type of insurance policy that’s right for you will depend on your individual circumstances. Explore your options below:
Joint Life Insurance: For Mums That Are Part of a Couple
Couples with children may wish to consider taking out a joint life insurance policy. This type of cover requires that both parties have a mutual financial stake in the policy’s outcome. If one of you were to die during the period of cover, a lump sum is paid out and the policy expires.
With this in mind, it’s important to point out that the surviving person will no longer be covered. This type of life insurance protection could be ideal if you just need a single payout. It’s also typically less pricey than purchasing two individual life insurance policies.
Decreasing-Term Life Insurance For Mums
For mums responsible for mortgage repayments, decreasing term life cover could be the most helpful. A decreasing term life insurance policy for mums often has the lowest premiums even though it delivers the same amount of coverage. This type of insurance is specifically designed to cover any outstanding debts in the event of your death. As such, the rate of the amount paid out reduces in line with the outstanding balance of your financial assets.
Simply put, should you as a mum die during the term of your life insurance policy, your mortgage obligations should not fall to your partner or children.
Level-Term Life Insurance For Mums
Level term life insurance for mums will pay out a fixed lump sum should the policyholder die during the agreed term. This type of cover provides peace of mind for mums from all walks of life. So, whether you are a single mum, a new mum, a stay-at-home mum, an older mum, or the household breadwinner, this is a great option to consider.
Level-term life insurance for mums ensures that your beneficiaries will receive a specific sum.
Increasing-Term Life Insurance For Mums
As the name suggests, increasing-term life insurance policies offer pay-outs that increase each year by a fixed amount. These increases will continue for the entire duration of the policy.
Mums who choose this type of life insurance policy do so to protect their policy’s value against the rising cost of living.
Whole of Life Insurance For Mums
A whole-of-life insurance policy for mums provides life-long cover and will guarantee your family receives a payout after your passing.
This is a popular life insurance option for mums looking to secure their children an inheritance. It’s also a good option if you want to meet significant family obligations such as mortgage repayments or burial fees.
One thing to be aware of with this type of policy is that if you purchase a whole-of-life insurance policy as a young mother, you may end up paying more into the life insurance policy than it will ultimately pay out. This type of insurance comes with a hefty premium in comparison to other options.
Why Mums Choose Mummy Insurance
- Trusted Insurance Provider: Mummy Insurance is currently trusted by more than 2500 families in the UK. And that number continues to grow on a daily basis.
- Charitable Brand: Mummy Insurance donates £2 to Children In Need for each and every quote received.
- Welcome Gift: Get a welcome voucher worth up to £100 when you purchase a new policy.
- Personalised Quotes: We tailor each quote to the individual circumstances and needs of mums looking for the right life insurance policy.
Compare Life Insurance For Mums With Mummy Insurance
Mummy Insurance makes the whole process of getting life insurance for mums easy, simple & stress-free. Mummy Insurance compares quotes from the UK’s top insurance providers so you can choose which life insurance policy suits your needs best as a mum. Life Insurance for mums is made easy with Mummy Insurance.
DADS
Dads, don’t fret. We have a whole website made just for you. Go get your free life insurance quote as a dad today from DaddyInsurance.com
