4 Types of Mums That Need Life Insurance
Life Insurance can give families the necessary financial support when trying to cope with the loss of a loved one. It’s not the nicest of thoughts, and is no doubt something you avoid thinking about altogether. However, a Life Insurance policy can take away any potential financial strain on your family, which could be so important during a time of loss.
We’re living in very strange times, with the coronavirus outbreak leaving many feeling a little more uncertain about the future. For some, it might have pushed you to think about how you can better look after yourself and your loved ones.
Taking out Life Insurance is a smart move, but if you’re a mum, it’s even more so.
Who needs Life Insurance?
Life Insurance can benefit anyone who takes out the right policy for their needs, whether it is Life Cover, Critical Illness Cover or Family Income Benefit insurance You can relax knowing that you’ve got financial protection in the bag, should anything happen to you.
Life can throw nasty curveballs when you least expect it, but a Life Insurance policy can reduce its impact. We can help you find the right cover to protect your mortgage, your kids and your health. So, even if you’re in full health right now, your insurance policy is there for when you’re not.
Life Insurance for married mums
Getting married is an exciting milestone that comes with many more highlights to enjoy over the years. Whether you have already been celebrating married life for a while or you’re about to tie the knot, Life Insurance is an important consideration as you experience married life together.
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 and day-to-day living costs without your contributions? At a time of mourning, money troubles should be the last thing to worry about.
Having a Life Insurance policy in place can offer some financial security that your partner would be able to stay afloat, while trying to come to terms with losing you.
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, a pay-out from Life Insurance cover can help to offer some stability as your children adjust to life without you.
Life Insurance for home owning mums
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 to protect your mortgage and your family from unforeseen circumstances.
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 and hard work as heading out to the office every day, and both come with busy schedules.
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 emotionally and financially. By having the right Life Insurance cover in place, you can at least provide financial support to your partner, children and other family members who may need to step in and help.
No matter your job, you would 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 helpful pay-out to contribute towards household bills and securing your children’s future.