Guide For Mums
There is nothing in this world that can take away the emotional pain of losing a mum.
But, ensuring that you have a good life insurance policy in place to support
your children and family after you’ve gone can significantly lessen any
financial stress for them on top of their grief.
Why do I need life insurance as a mum?
For many women, having a child can lead to them thinking about life insurance seriously for what may be the first time. Raising a child is an amazing and beautiful experience, but it is not easy or cheap.
As of 2021, it currently costs an average of £152,747 to raise a child to the age of 18, and this will only increase with time. Should you unexpectedly pass away, would your family be able to take on this financial burden without the money that you would have made? For most, the answer is probably no. For this reason, it is important to get a life insurance policy put in place that would cover at least the expenses needed to successfully raise your children to adulthood.
I am a stay at home mum. Do I still need life insurance?
Many women who are a ‘stay-at-home’ mum might not earn financial compensation for what they do, but this does not mean they don’t contribute. Stay-at-home Mums are an integral part of the family unit. The amount of time spent taking care of children, pets, other family members, as well as keeping an orderly household amounts to 98 hours working week equivalent.
This would be a substantial cost in childcare and housekeeping fees if they were not available or willing to take on these responsibilities. It is, therefore, equally as important to set in place an adequate life insurance policy regardless of whether you are a working mum or a stay-at-home mum; the impact on your family if you were not around is just as significant either way.
Do I need life insurance as a single mum?
If you are a single parent, and especially if you are the sole financial provider for your children, life insurance is more important than ever.
Here at Four Leaf Cover, we know how difficult life can be financially for a single mother. Many mums think for this reason, life insurance is an extra expense that they simply can’t afford.
However, this isn’t the case, life insurance doesn’t have to be expensive. When comparing policies, we can find you a life insurance policy that best fits your family’s situation as well as your financial situation. There is nothing more important than making sure your children and loved ones are looked after finically when you die, and securing an adequate life insurance policy is the best way to do so.
No matter whether you are a single mum, a working mum, a stay-at-home mum, a young mum, or a mum-to-be, there is a life insurance policy to fit your needs. No two policies are the same, and there is no greater feeling than knowing that, should the worst happen, your family and children would not have to worry about the financial implications of their loss.