Mums, you need to read this

Whether you’re a mum, mam, mammy, or even a mama - life insurance should be on your radar, and here’s why. 





Why is life insurance so important for mums?



Being a mother is one of the most rewarding things you can do with your life but there is no denying that it is hard work.

If you’re a stay at home mum, you may be under the impression that a life insurance policy is only for those who are employed. Don’t let this deter you from getting cover. According to a recent study, almost half of working age women in the UK do 45 hours of unpaid care a week.

So although you may not have a boss, being a mum is still work and if the worst were to happen to you, your partner would be able to use the money from your life insurance pay-out to be able to support themselves and the children.

First time parent?

With a little one on the way, you spend your time awaiting your baby, nesting, preparing, and making everything perfect for your new arrival.

But life insurance is often not included in the prep for a new baby - why? Research by Aviva found that only 27% of first-time parents take out life insurance to protect themselves and their new arrival.

Life insurance is arguably the most important thing that you’ll need in preparation for starting your family. The pay-out from your policy could ensure any outstanding debts won't be left as a burden to your loved ones, a policy can also cover your repayment mortgage and so much more!

How do you know which policy is right for you?

There are so many different types of life insurance policies available these days, it can be hard to know which one is right for you. Here’s a little overview of what the most popular types of life insurance offer:


  • Critical illness cover - It can be hard to ignore those scary statistics sometimes. But a critical illness policy can give you peace of mind that, if you were to be diagnosed with a defined critical illness, your cover could pay out a tax free lump sum. You can use the money from this policy however you see fit!

  • Income protection - For those mums who balance a career whilst being a parent, this policy is for you. Income protection insurance is one of the most popular types of life insurance for a reason, this type of policy will ensure you can remain financially secure, even if you can’t work, due to illness or injury. Income protection can cover up to 70% of your income



  • Level term life insurance - This type of life insurance policy is set for a pre-agreed period of time, the policy will also pay out a set amount of money (we can help you decide this amount). The level of cover you need will depend of several different factors such as your affordability, needs and circumstances



  • Mortgage protection - Your mortgage is one of the biggest debts you’ll have in your life, so protecting it with a life insurance policy makes sense. The lump sum (which will cover the remaining balance of your mortgage) will ensure your loved ones don’t have the burden of paying back

  • Whole of life insurance - The clue’s in the name with this one, this is the policy that can provide you with the ultimate peace of mind. This type of life insurance will cover you for the whole of your life. Meaning, in the event of your death, your cover will pay out a tax free lump sum to your family


Can you get life insurance for children?

So many of the UK’s leading life insurance providers either include children's critical illness insurance as standard or offer the option to have this cover included within your own critical illness policy for a small extra cost.

Having children’s critical illness cover is so worth it. Just like the adult equivalent, the pay-out from your policy could make life so much easier for you, during a tough time. If your child was diagnosed with a critical illness, the pay-out could be used for:

  • Travel to and from hospitals, if specialist care is further afield
  • Childcare costs
  • Helping to ensure any lost income is made up for, if you have to take time off work to look after your child
  • Paying for special family days out, when you’re little one is on the road to recovery
  • Making sure your home is modified to suit your child's diagnosis (if necessary)

Is it even more important if you’re a single mum?

Life insurance for single mums is so important.

Not only are you an absolute superhero for being a solo parent but it also means your little one is more financially dependent on you.

So sadly, if something were to happen to you, you wouldn’t have a spouse to step in and help, so the pay-out from your life insurance policy could be an absolute lifesaver for all those single mums out there. Click here to find out more about life insurance for single mums.

What is the best life insurance for mums?

There are loads of different types of life insurance, so it’s hard to say which policy is best for mums in general.

For example, a critical illness policy could be best suited to one mum's needs but an income protection policy could be better suited to another. This is why asking for help with your life insurance policy is always best practice.

At Caspian, we have over 200 years combined experience in the life insurance industry, so we definitely know what we’re talking about.



How much is life insurance for mums?

When it comes to life insurance, every policy is so different - there is no one size fits all.

Your policy will be based on you and your family’s unique needs, circumstances, and medical history. But if you want a taster of how much your monthly premiums could be for one of the most popular types of life insurance then why not try out our critical illness calculator.

All you need to do is pop in your age and how much cover you think you’d want and the rest is magic!

How much life insurance do you need?

When looking at life insurance online, it can be easy to over insure yourself (meaning you’ll be paying over the odds for cover you might not need) or under insure yourself (your loved ones won’t have the money they need to get by, if the worst happens).

Your sum assured (the amount of cover you’d have) is determined by a range of different factors but it is predominantly your choice.

With the help of a life insurance broker (AKA us), your policy can be tailored to you and your family’s unique needs. We work with the UK’s top life insurance companies so we can compare life insurance providers to find what works for you.

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.

Over anything else, the peace of mind you’ll get as a parent with the right cover in place, is priceless. Don’t just take our word for it, click the button below to get started with your free life insurance quote today!