4 types of mums that need life insurance
Life insurance can pay out a tax-free lump sum to your loved ones which could make all the difference, especially when coping with the loss of a loved one.
Find out more why life insurance should be on your radar as a mum in this day and age.
Who needs life insurance?
Life insurance can make all the difference, as long as you take out the right policy for their needs, whether it's a level life insurance policy, critical illness cover or income protection insurance. You can relax knowing that you’ve got financial protection in the bag, should anything happen to you.
Life has a habit of throwing a curveball every now and then but a life insurance policy
can ensure that your loved ones are financially protected, if the worst were to happen. We can help you find the right cover suited to your needs and affordability.
Life insurance for married mums
Getting married is one of the most exciting times of your life. Whether you're already celebrating married life or you’re about to tie the knot, life insurance should be on your radar.
It’s important to think about how your other half would cope, financially and emotionally, if you were no longer here. Would they still be able to afford the mortgage payments and day-to-day living costs without your contributions? When you're grieving, money troubles should be the last thing to worry about.
Life insurance for single mums
If you’re a single mum, you’re already doing an amazing job. Whether your kids are young or getting older, being a single mum is demanding and non-stop. It can be difficult to think about a future where you’re no longer around, but with life insurance, you can plan for life’s uncertainties.
Taking out life insurance is the next level in providing for your kids, making sure they wouldn’t go without if you were to pass away. Losing a mum can result in a major change in your children’s lives, and while it can never fully compensate for the loss, having a policy can provide a financial safety net to minimise the impact.
If you have a mortgage or school fees to consider, the pay-out from your life insurance could help to offer some stability as your children adjust to life after you've gone.
Life insurance for mums on the property ladder
A mortgage is usually a household’s biggest monthly outgoing. It’s also what puts a roof over your children’s heads, which allows them to feel safe and loved. It’s not the nicest of thoughts, but if you were to pass away, who would pay the mortgage and keep that roof over their heads?
A loss in the family will have a huge emotional impact, but without a life insurance policy, it could also have an impact on your family’s financial situation too. Decreasing term life insurance (also known as mortgage life insurance), can help financially protect your mortgage and your family, if the worst were to happen.
If you passed away, your family could be forced to downsize, move to a cheaper area or make other sacrifices to try and meet the mortgage payments. This type of policy will usually cover the outstanding balance of your mortgage, so your kids can try to maintain some level of normality in your absence.
Life insurance for working mums
Whether you’re a business owner or a stay at home mum, you are a working mum! Staying at home with the kids can be just as much of a commitment as heading out to the office every day.
As a working mum, you’re providing for your family whether it’s through income or childcare. Either way, without you, your family would struggle both emotionally and financially. So by having the right life insurance in place, you can at least provide the right financial support to your partner, children and other family members who may need to step in and help.
No matter what your job is, you'd leave a huge hole in the lives of your family if you
were no longer around. You can’t be replaced, but you could leave behind a tax free lump sum to ensure your loved ones are financially looked after, when you're gone.
Is life insurance worth it?
The money from your life insurance policy, no matter what type you have, could make all the difference, if the worst were to happen. The peace of mind you’ll get as a mum with the right cover in place, is priceless.
