Life Insurance For Mums

Mum and Daughter

There is a common assumption that life insurance is only for the family breadwinner, a belief which undervalues the importance of mothers and how much they contribute to a household. But the value of mothers shouldn’t be underestimated.

Stay at Home Mums

Child care, cleaning and other household work as well as the invaluable support a mother provides her family means that a mother’s worth both emotionally and financially is considerably greater than is often appreciated. In their absence, the cost of providing child care alone can run into the tens of thousands annually, with additional costs of maintaining the household only adding to the financial burden.

The cost of raising a family is considerable, with the average family spending up to £9,000 a year raising their kids, more than £150,000 over a period of 18 years. The average mum spends up to 71 hours a week on household chores, cooking and looking after their children, work which has been valued at over £30,000 a year. Given these considerable sums it is perhaps surprising to note that less than half of mothers have a life insurance policy in place to protect their family should the worst case scenario occur.

Families often fail to take into account how they would cope if the stay at home mum were to pass away unexpectedly before the children were old enough to look after themselves. Other family members might be able to help out, but often this isn’t possible, and families are left with a financial burden which they are unable to deal with. Dealing with some cremation scattering and burial expenses is really not easy. Many partners say they would have to work part time or give up work completely to look after their children, and would struggle to get by on a diminished income having been forced to give up their careers. Life insurance for stay at Hungtinton Beach home mothers provides peace of mind, guaranteeing that, if the mother were to die the children would be able to continue with their education and reach adulthood without having to worry about money, while their partner would be able to continue working without concerns for the welfare of their children adding to their grief.

Single Working Mothers

Life insurance is just as essential for working single mums as it is for stay at home mothers with partners in full-time work – as the sole breadwinner responsible for raising their children, working single mothers bear full responsibility for ensuring that they are provided for in the event of their death. Spending for Southern California funeral services certainly will cost you. A sound life insurance policy provides a vital safety net guaranteeing their children a financial secure future should the worst happen, giving working mums much-needed peace of mind.

Life insurance for mothers doesn’t have to be expensive. Term life insurance is the cheapest option, covering a mother for a set period of time so that, if death occurs during the fixed years the life cover pays out. Pay out a little more and a mother can buy whole life assurance, providing them with lifetime protection. Mothers should determine what type of cover best suits their needs, taking into consideration whether or not they can afford the premium, the age of their children, whether or not other family members will be there to provide any emotional or financial support in the event of their death and what age they anticipate their children requiring financial support (for instance, if they expect them to attend university).

Applying for life insurance couldn’t be easier, with dozens of providers available to choose from. For just a small monthly payment mothers can secure peace of mind, safe in the knowledge that if the worst were to happen to them their children’s future prospects will remain bright, not bleak. If you are not clear one what kind of cover might be needed it would be worth speaking to an experienced insurance broker who can run through your circumstances in more depth and help you to prioritise the kinds of cover that are essential, preferable or unnecessary.

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Lucy James writes for Life Insurance for Mum, a UK insurance broker specialising in life insurance for single mums, elderly parents and stay at home mums.

A Journey With Wings
244 N Dale #223
Fullerton, CA 92833

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