Mums are the life insurance for women of any family and play a huge role in keeping them together. They may have children, a partner, parents or other relatives to take care of, as well as their own career. This makes them incredibly valuable and irreplaceable. However, it’s important for everyone to plan ahead and consider what would happen if they were not around. Life insurance is one way to do this, providing a lump sum to help cover financial commitments.
This can be used to pay off debts, mortgage or other bills, as well as paying for funeral costs. Many policies also allow you to add on additional benefits such as a cashback or a funeral contribution, making the policy more tailored to your needs.
Untangling Costs: How Much Does Life Insurance Really Cost in the UK
As a mum, you might have other financial commitments such as loans or credit cards, childcare, school fees and higher education costs. It’s important to calculate these as well so that you know how much cover you need. You can use our life insurance calculator or speak to our life insurance experts who will gather all the information you need and find the right policy for you.
Single mothers often have a perception that life insurance is expensive but it doesn’t have to be. By using an award-winning broker like Reassured to compare quotes, you can get a policy that fits your budget. You can also choose to take out a whole of life policy that doesn’t provide a lump sum pay out but does guarantee your loved ones will receive monthly (tax-free) payments for the rest of their lives.