Life insurance for mums
Why choose
The Insurance Surgery
- Voted Best life and protection broker 2022
- Rated 5* on Trustpilot and Feefo
- Access to high street and independent insurers
- 20 years’ experience & price match promise
Everything is about protecting your kids
When you become a parent, everything changes. Suddenly, you have more worries than ever before about your kids – and your biggest fear will become what would happen to your family if something happened to you.
We can’t control everything in life.
But we can control your family’s financial security.
From as little as £5 per month, you could take out an affordable life insurance plan that will give you peace of mind that your family will be taken care of in a worst-case scenario.
A life insurance payout will never be enough for your kids to cope with the trauma of losing you. But it could go a long way towards helping them have the future you always hoped they would have.
For instance, a payout could be used to:
- Pay off your mortgage so your children’s home remains secure.
- Pay for school or university fees.
- Pay for counselling or bereavement support, or even a holiday to help them cope with their loss.
- Provide them with an inheritance.
By creating a financial safety net, your family can adapt to life without you in their own time, without any financial pressures making a difficult situation even more challenging than it needs to be.
Mums are our superheroes – that’s why we specialise in mums insurance
Mums are amazing. They do everything, which is why we want to do everything for you.
It doesn’t matter what your family looks like – we’re here to get you the cover that you deserve.
We can help you whether you are a
- Young mum
- Mature mum
- Single mum
- Working mum
- Stay-at-home mum
- Step mum
- Mum-to-be
Everyone’s family is different. But you all want the same thing. To have peace of mind that whatever happens, your kids are financially secure.
With our support, we can not only make sure that you have an insurance plan that will pay out, but thanks to our policy trust service, it will be paid out in the way that you want it to.
All you have to do is pick up the phone and give us a call!
How do life insurance policies for mums work?
Right now, we might be focusing our attention on mums, but we also want to remind you that it’s just as important for dads to take out life insurance as well.
Parental life insurance policies offer financial security for your children.
If you’ve never come across a life plan before, they are surprisingly easy to understand.
By paying a premium each month (or year) for an agreed time frame, you will then receive a tax-free cash payout if you are diagnosed with a terminal illness and have less than 12 months to live or if you pass away.
There are many different types of life insurance policies, and that’s usually where the complications set in.
We don’t want you to feel overwhelmed by the available options. We want you to feel comfortable enough to pick up the phone and ask us a question or leave us a message asking us to explain more about how life insurance works.
Here at The Insurance Surgery, we pride ourselves on our customer service. We don’t want to take up too much of your time – you’re a busy mum. You’d much rather be playing with your kids than being on the phone with us.
That’s why we can call you back at a time that suits you.
Perhaps once your youngest is down for a nap or after you’re back from the school run.
All you need to do is request a call back from one of our trained advisors or send us a message with any of your questions, and we’ll work with you – in your own time – to help you set up an insurance policy that protects your family.
Is mums’ life insurance expensive?
The cost of raising a child is frighteningly expensive!
In 2022, the basic cost of raising a child (up to the age of 18) was almost £70k for a two-parent family or £113k for a single-parent (source: Child Poverty Action Group). And that doesn’t even include the cost of housing and childcare!
So, we know how important it is to check that your premiums are as low as possible.
Luckily, we’re the experts in finding cheap life insurance plans that offer maximum protection. We do this by scouring the entire market for deals – many of which are not available directly to the public. We also make sure that you’re not over or underinsuring yourself.
So, how much does mum’s life insurance cost?
Well, it will depend on your own personal circumstances, including:
- age
- health
- Smoker status
- job
- number of children
- debts
- how much cover you require
It will also depend on the type of insurance you want and whether you want a single policy or a plan that combines life insurance with extras such as critical illness or income protection.
With so many variables, we can’t give a straightforward cost. But we can provide a hypothetical scenario of how much mums are paying for their life plans.
Mum’s life insurance example cost #1
Farrah is a 34-year-old single mum. She has two children, aged 8 and 3. She’s raising the kids on her own, and her salary is £27,000. Farrah wants to make sure that her children have every opportunity open to them. She’s looking for a term life insurance plan, offering cover of at least £150,000, which would be split directly between the two children. She wants the insurance to be open until the kids are grown up and have reached financial independence. She wants a 25-year policy, by which time her youngest child will be 28 years old. She’s aware that once the policy reaches the end of its term, it will expire, and she would need to take out a new plan.
Farrah’s monthly premium will be £7.75 every month for 25 years.
In total, she would pay £2325.00 for a potential £150,000 payout.
Mum’s life insurance cost #2
Susie is 43 years old. She works as a Chief Inspector, with a salary of £65,000 and is the primary breadwinner in her family. She recently had her first baby, and her husband is working part-time as a graphic designer to save on childcare costs. Susie and her husband own their home but have a remaining mortgage balance of £275,000 over a 20 year term. She wants a decreasing policy to cover her mortgage and a level term policy for £500’000 to cover childcare costs and family bills/lifestyle for 23 years, this would mean her family are taken care of until their child is out of full time education.
Although Susie is eligible for an enhanced sick pay package and death-in-service benefits through work, she wants to make sure that her finances will always be covered. As such, she wants to include income protection in the event of being taken ill and unable to cover her expenditure
Susie’s monthly premiums are £23.13 for mortgage decreasing insurance, £500’000 level term policy £40.91 and £100.71 to receive £3437 per month after her company sick pay ends
She would pay £1977 per year in total
Mum’s life insurance example cost #3
Rachel is a stay-at-home mum. She has four children, and her wife works as a marketing manager. They have enough money to cope with living costs, but if something happened to Rachel, her partner wouldn’t be able to pay for childcare costs without selling the house and downsizing. Rachel is 47 and a non-smoker, but she does have type 1 diabetes. Rachel wants to take out a life insurance plan that would guarantee to pay off the mortgage, freeing up cash for her wife to be able to maintain their standard of living for the children if something happened to her.
At the moment, their mortgage balance stands at £380,000, with 24 years left on the capital repayment term. She would like to have a decreasing term policy which mirrors her mortgage term.
Rachel’s monthly premiums are £47.20, which she would pay for 24 years.
These are just a few scenarios of mums looking for a life insurance policy.
We know everyone is different, which is why we take the time to listen to you and find out why you are looking for financial protection. From there, not only can we match you to a trusted provider, one that we know will have your best interests at heart, but we promise we will always get you the best possible price.
Thanks to our price promise, you’ll never find a like-for-like policy cheaper anywhere else.
What’s the best type of life insurance for parents?
There are so many different options available that what’s right for one mum may be different for another.
But with our support and expertise, we can make sure that we’re getting the right policy for you.
Each option will have pros and cons, and we don’t expect you to know the answers. When you talk to our team, we’ll explain the details and help you figure out what is suitable for you and your children.
Let’s look at the different options available for parents looking for life insurance.
Life insurance
The best type of life insurance for you and your family will depend on how much cover you’re looking for and what you want it to protect. Don’t worry if this is already sounding complicated – we can help you identify what you’re looking for.
The two most common types of insurance policies are
- Term life insurance
- Whole life insurance
Term Life Insurance
Term life insurance covers you for a set period of time. Often, mums choose a term life plan to match their children’s ages – perhaps you want a 30-year plan, by which time your children will have grown up and reached financial independence.
The good news is that term life plans are affordable for mums. You’re in control over how long you want your policy to remain active, so you can safeguard your loved ones without needing to pay more than you need.
If you pass away during the agreed term, your family will receive a lump sum. This will be paid out tax-free. However, if you die after the policy term ends, the plan will expire, and no payout will be made.
Term life insurance can be further broken down into two options:
- Level-term life insurance means that your monthly (or annual) premiums stay the same for the entire term – typically, anywhere between 25-40 years. Your potential payout will remain the same throughout the policy term.
- Decreasing term life insurance policy is where the potential payout reduces over time. This may be a more affordable option. Often, mums look for a decreasing term life insurance policy that mirrors their mortgage term because the payout will be in line with any remaining mortgage balance.
Whole Life insurance
Alternatively, whole life insurance may be a better fit. This cover lasts for your entire lifetime and pays out a lump sum to your family when you die.
As whole life insurance plans never expire (as long as you’re paying your premiums), the costs may be higher than a term policy. But there is the peace of mind that your family have a potential payout, whether you pass away when you’re 38 or 98.
Other types of life insurance policy
Beyond term and whole life insurance plans, you may also come across an over-50s life insurance policy. If you’re a mature mum and your kids are growing older, this might provide more value for money if you’re aged between 50 and 80 years old.
Alternatively, if you are married or in a long-term serious relationship, you could choose to take out a joint life insurance policy with your partner. Often, these can provide additional protection for you both, and this will pay out to the surviving individual on the death of the other.
Other insurance options for mums
Life insurance is important. But it’s just a tiny part of the wide range of insurance options available to protect your children and your family.
The good news is that these additional extras can be built into your policy, or they can be standalone options.
Critical and serious illness cover
This kind of insurance will provide a lump sum payment or a recurring income if you are identified with a serious or life-threatening illness. The income will help you to maintain your living expenses so you won’t have to stress about how to pay your bills when you should be focused on your health.
Your CI cover can protect you, or you can add on child cover as well, ensuring that if your children were to become ill, you could take time off work to look after them without worrying about money.
Family income benefit
A family income benefit (FIB) is a type of insurance plan that, in the event of your death, will provide your family with a regular monthly income as opposed to a single lump payment.
We know that you may prefer this option, mainly if your household relies on two incomes to pay all of your living expenses. Typically, a family income benefit will be a term policy, and we recommend that the term should match any mortgage term or last until your children reach financial independence.
If you do not pass away during the term of your policy, there will be no payout, and your policy will expire.
Income protection insurance
An income protection plan can help you maintain your financial stability if you are unable to work as a result of illness or injury. It can assist you and your family in supporting your way of life without having to rely on your savings, your employers’ sick pay policy or statutory sick pay.
Most income protection plans will pay between 50-70% of your income until you’re medically capable of returning to work. You can claim on your policy more than once, meaning that you will always be able to prioritise your health.
Mortgage protection insurance
Mortgage protection insurance will cover the remaining balance of your mortgage if you pass away or develop a terminal illness. This entails that even after you pass away, your family won’t have to worry about paying the mortgage.
Should young mums take out life insurance?
Life insurance is available to anyone over the age of 18. We’re on a mission to educate the UK public about the importance of taking out life insurance as early as possible.
That’s because premiums will be much cheaper. The younger you are, the less likely you are to have pre-existing health conditions, which could prevent a claim from being paid. From an insurance underwriter’s point of view, young people are less likely to make a claim – so their insurance premiums are lower.
Unlike other forms of insurance (ahem, car insurance, we’re looking at you!), your premiums will remain stable throughout your entire policy. So, if you take out a 45-year term policy in your early twenties, you’ll be paying the same price when you are aged 70 that you did when you were 25.
In contrast, someone who takes out the same level of cover with the same provider when they are 48 will be paying a lot more money than you because the insurer will see them as more of a risk. They may also have developed pre-existing health conditions that could affect the price.
Therefore, the most financially secure decision you could make is to take out a life insurance policy at a young age.
Prioritising the needs of stay-at-home mums
Often, we hear from stay-at-home mums who tell us that they don’t need life insurance because they aren’t financially supporting their family.
But your support is shown in so many other ways, and that’s hugely valuable.
When we talk to stay-at-home mums like you, we like to ask you a couple of questions about what your partner would do if you weren’t there to look after the children.
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- Would they have to rely on paid-for childcare?
- Could their wage cope with the increasing costs of childcare as well as rising living costs?
- Would they have to change their working hours to be able to manage the school run?
These may sound like simple questions, but they help to rationalise how vital your role is in the home.
If your partner is unable to afford childcare on top of living expenses on one wage, then having a life insurance payout could be invaluable. Similarly, if they need to change their working hours and potentially reduce their salary, the insurance payout would maintain your child’s standard of living.
For us, life insurance is about risk assessments. It’s about preparing and planning for any eventuality.
Talk to us about how we can help stay-at-home mums secure life insurance
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Life insurance tailored to working mums
Life is expensive. It feels like almost every penny we earn goes straight out into rent or mortgage payments, council tax, energy bills, car repayments…the list goes on.
If your household relies on two incomes, then it’s essential to have plans in place that will make sure that your children are not financially disadvantaged if you were to pass away.
They’ll have enough to deal with, coping with the trauma of losing you, which is why we don’t want them to be worried about finances as well as dealing with their grief.
Our life insurance policies for working mums are designed with you in mind.
During our conversations, we won’t just ask you about your salary. We also take the time to find out if you are entitled to any other benefits, such as death-in-service payments or enhanced sick pay policies. By understanding your remuneration package, we can figure out what is the right level of insurance cover for you.
We don’t want you to be overinsured.
Nor do you want to be underinsured.
Like Goldilocks, you deserve protection that’s just right.
Why choose The Insurance Surgery for mums life insurance?
We are incredibly proud of our reputation for being one of the UK’s leading life insurance brokers.
Mums trust us because they know that we work with a wide range of insurance providers to get the best life insurance policy for your needs and budget.
Our approach is to help you from the very beginning. When you contact us for a life insurance quote, we’ll help you figure out how much cover you need and what type of policy fits you. We promise that we’ll answer any question you might have, and you can take as long as you need to make a decision.
Our role as supportive partners isn’t just to match you to a provider and leave you to it. We can periodically review your life insurance policy and check that your plan is always giving you the proper protection, no matter how much life changes. And when the time comes, and your family need to make a claim, we’ll be there for them as well, making every step of the process as easy as possible.
With our support, you can benefit from:
- A dedicated advisor who is there to answer any of your questions
- Free Trust service, allowing you to set up your insurance payment as you wish
- Support for those with pre-existing conditions
- Access to high street and independent insurers
- Price match promise guaranteeing you won’t pay a penny more than you need to
- However, and this may be the most important thing, The Insurance Surgery has a history of helping people who have been turned down for life insurance. A massive 70% of people who were turned down elsewhere have been accepted here.
We love being problem solvers and finding positive solutions to the trickiest of scenarios.
You may have a pre-existing health condition or a complicated family medical history that some insurers have walked away from. That’s not because you can’t get insurance. It’s because those insurers weren’t willing to take the time to get to know more about you.
We take the time to learn about you and your health. When we know about your health and the reasons why you think you may have been declined elsewhere, we can talk directly to an underwriter on your behalf and find you the mum’s life policy that you deserve.
Need Advice Regarding Critical Illness Insurance?
We answer your most frequently asked questions.
Life insurance is a very personal thing. There is no defined best insurance company for mums, as your policy will depend on how many children you have, how much cover you need, and how you want it to pay out.
The easiest way to find the best life insurance provider for you is to talk to a broker like The Insurance Surgery. We can help you identify exactly what you’re looking for and help you figure out why you want financial protection. Knowing this allows us to match you to the best life insurance company for your needs.
Absolutely. In fact, we recommend taking out life insurance for mums on benefits because it can safeguard your children’s financial future if something were to happen to you.
If you’re on Universal Credit, we know that budget is essential.
But low prices doesn’t mean low protection.
Our team excel in finding ways to lower your premiums as much as possible. What’s more, with our price promise guarantee, we can match you to the cheapest life insurance policy at the lowest possible price.
We always recommend speaking with an insurance broker. We have access to the whole market, which means that we can find parental life insurance policies that are not available directly to the public.
Talking to us directly also means guaranteeing that your policy will give you the protection you’re looking for and will pay out in the way that you want it to. As parents, you want to know that you’ve done all that you can for your children, and taking out a parents’ life insurance policy is one of those must-dos that you should tick off your list.
If you’ve recently had a baby, then congratulations! Whether it’s your first child or you’re an experienced mum, it’s a special time.
You want to be the best mum possible, and that starts with making sure that you’re safeguarding their financial future. We don’t just excel in finding life insurance policies for new mums. We also work with families to review their life insurance policies, checking that it continues to offer the best level of financial protection for your growing family.
Even if your budget is tight, do not be worried about the cost of life insurance. It may be cheaper than you think.
Every mum is different, and policies are based on your age, smoking status, health and BMI, as well as what type of policy you’re looking for. With our help and expertise, we can create a policy that matches your budget. A tip that people often don’t realise is that life insurance policies can be flexible. They can be adjusted or changed in the future, so we think that it’s more important to take out a basic plan now that gives some protection for your children. That way, you can always increase or reduce the level of cover in the future once your children have grown up.
Our customers love us.
Would recommend using this service
Tom has been incredibly helpful throughout the whole process of getting my life insurance set up. Very knowledgeable and absolutely ‘on it’ to get me the best product out there.
Mat Wise
First Class Experience
Service was first class, Simon kept me informed at every step in the process.I would have no hesitation in dealing with him again.
Duncan Fordyce
Great, Quick Service
Dealt with Karl who could not have been more helpful. Made the whole process of getting life insurance far easier than other providers I had approached.
Shelley Jenkins
Fantastic!
Approved immediately. Process was so fast and a lot cheaper than I thought. Highly recommended.
Nicola Storr
Useful Links
If you have any further questions about anything to do with Life Insurance and protection for your family, please feel free to contact our team of expert Life Insurance advisors.
Click the links below to find out more: