life insurance for mums

Life Insurance For Mums - A Complete Guide

Motherhood can be a challenge no matter how old your kids are, often needing frequent attention and support; even when they’re teenagers! It’s easy to get caught up in the here and now, and to not really think about years into the future. However, it’s crucial that you consider how your children would cope if you weren’t around. It may not be the nicest of thoughts, but it can highlight the difference a Life Insurance policy could make to your family. 

If you haven’t already got Life Insurance cover, consider planning for life’s uncertainties and protecting your kids.

Should I get Life Insurance?

Life Insurance can help you protect your family by offering a financial safety net, if something were to happen to you. While nothing can replace the loss of a mum, the right policy can take away any financial worries of coping without you.

One of your priorities as a mum is to make sure your kids grow up feeling safe and loved. Losing you could shatter this, but Life Insurance can minimise the impact it might have. A pay-out could help your family to keep the family home, continue going to the school they love or even go on holiday to recuperate.

Whether you’re a single mum or you have a partner, taking out a Life Insurance policy is key if you want to secure your children’s future.

How to buy Life Insurance?

It’s important to make sure you’re getting the right amount of cover, not trying to obtain the cheapest monthly payments. Your payments are calculated based on lifestyle and health factors, as well as the pay-out amount and term of the policy you would need, should the worst happen. 

Comparing Life Insurance quotes is one of the best ways to make sure you’re getting the right cover at the right price. This gives you the chance to compare the different insurance providers, as many will offer different benefits and additional services that may interest you.

Should I use an insurance broker?

A broker can work on your behalf to compare quotes for you, letting you concentrate on being a mum and working. At Busy Bee, we have your best interests in mind, and we don’t charge you a penny for our service. Our team can help to explain your options and make sure you understand the different types of cover, so that you can make an informed decision to protect your family.

We can search for policies that are tailored to your circumstances and budget, and provide ongoing support with putting your policy in Trust and guiding you and your family through the claims process.

What are the different types of Life Insurance?

Deciding on the right type of Life Insurance can depend on what you want to protect. For example, if you want to make sure the mortgage is taken care of in your absence, you could take out decreasing term Life Insurance. Decreasing term, or mortgage Life Insurance can cover the mortgage and minimise disruption during an already difficult time. 

You may wish to protect more than one consequence of passing away. You may want to ensure living expenses and bills are taken care of, or cover additional childcare and school fees. Life Insurance pay-outs can also be helpful in contributing towards funeral costs.

It’s a horrible thought, but the thought of your family struggling financially while mourning their loss is even worse. You could even take out more than one policy simultaneously to protect different assets; for example, Life Insurance and Critical Illness Cover. If you took the two out separately, you would be covered if you were diagnosed with a defined critical illness, and then would receive another pay-out if you were to pass away.

Similarly, you could take out Family Income Benefit and term Life Insurance. Family Income Benefit offers a fixed monthly income in the event the life assured was to pass away, whilst Life Insurance would pay out a lump sum. This could be helpful in paying off the mortgage and providing a steady income for living costs.

Finding the best insurance company

The team here at Busy Bee can talk you through your options, making sure you have the right cover to benefit your family in the long run. We take a no-nonsense approach, getting rid of the complicated jargon and working with leading providers to give you the right quotes for your circumstances.

You can start a free quote online now, or give us a call on 0800 470 0429 and let us help you today.