Life Insurance for mums

Why mums need life insurance

Having a child tends to be one of the biggest reasons people first look into life insurance, and it's easy to see why. From that point on, someone else's wellbeing takes priority, and we want to do whatever we can to keep them happy and healthy. Taking steps to protect their financial security is one way of doing that.

Providing for dependants

For most mums, children are the main reason to take out cover. A payout could go towards day-to-day living costs, childcare, education or anything else your family needs.

Children aren't necessarily the only people who might rely on you. Some mums also support a parent financially, whether through regular payments or covering specific costs as they come up. If that applies to you, it's worth including this when you're thinking about the level of cover that makes sense, alongside any partner or children.

Cover for stay-at-home vs working mums

If your income supports your household, the reasoning behind life insurance is fairly clear cut: a payout could help replace that income if you were no longer around.

It's a common misconception that stay-at-home mums don't need cover simply because there's no salary involved. Think about everything that goes into managing a home and raising children day to day: the school runs, the meals, the childcare. If you weren't there to do it, your partner would likely need to pay for some of that support on top of continuing to work and processing the loss themselves. Life insurance can help cover those costs, whether that's professional childcare, extra help around the house, or simply giving your partner room to adjust without added financial pressure.

What types of life insurance are suitable for mums

There isn't a policy designed specifically for mums. Post Office offers a small number of life insurance types, and the one that suits you best comes down to your finances and personal circumstances, not the fact that you're a parent.

• Level cover: Your cover amount and premium stay fixed for the whole policy term, so your family knows exactly what they'd receive should you pass away one year into your policy term or on the very last day
• Decreasing cover: Your cover amount reduces over time. It's primarily designed for people looking to cover their repayment mortgage. The amount you need decreases as you pay off your mortgage, and it's a cheaper option than level or increasing cover at the same starting value
• Increasing cover: Your cover amount rises each year in line with the Retail Price Index, up to a set maximum, helping the payout keep pace with rising costs. Your premiums increase each year in line with this
• Joint cover: If you have a partner, you can take out a single joint policy covering you both. It pays out once on the first death, after which cover ends

Optional add-ons are also available alongside your main policy, including critical illness cover, which pays a separate lump sum if you're diagnosed with a serious condition, and children's cover, which offers similar protection for your children. Neither is unique to mums, but both are worth thinking about if you'd like a bit more protection built in. Both add-ons come at an additional cost.

How much does life insurance cost?

Your premium is calculated based on a combination of things: your age, your health and lifestyle, the type of cover you choose, how long you'd like the policy to run, and the amount of cover you want. Generally, taking out a policy while you're younger and in good health means a lower premium, and it's then fixed for the length of your policy unless you've chosen increasing cover.

How to choose the right level of cover

The right amount of cover comes down to your mortgage or rent, any other debts, your income and who depends on you financially, and there's more than one way to work this out. Our guide on how much life insurance you need sets out two different approaches, from a simple rule of thumb to a fuller breakdown of your outgoings, along with a worked example.

As a mum, it's worth paying close attention to childcare and everyday living costs when going through that calculation, alongside your mortgage or rent, since these often form a large part of what cover needs to provide for.

Life insurance for mums with health conditions

Having a health condition doesn't automatically rule you out of getting life insurance. As part of your application, you'll be asked a series of health and lifestyle questions which will cover off any pre-existing conditions. This includes more substantial, chronic conditions through to more manageable conditions such as high blood pressure.

Your overall health picture may affect your premium, or in some cases, whether cover can be offered. However, Post Office Insurance can offer policies to people with an array of pre-existing health conditions, so it's worth getting a quote rather than assuming you’d be disqualified.

When to disclose your health conditions

You'll be asked about your health and lifestyle when you apply, and it's important to answer every question honestly, accurately and to the best of your knowledge. If a condition isn't declared and it later turns out to be relevant to a claim, this could affect whether that claim is paid, so it's always worth taking the time to check your answers before you submit your application.

Can I get my mum life insurance?

If you're looking into life insurance on behalf of your own mother, it's worth knowing that a policy has to be taken out by the person it covers. Your mum would need to apply herself and answer the health and lifestyle questions, since these are what determine her premium and are used if a claim is ever made.

There's still plenty you can do to support her through it. You could help her compare the different types of cover, talk through how much she might need, or sit with her while she gets a quote. With Post Office, getting a quote takes a matter of minutes, so it's worth reassuring her that it wouldn’t be an overly complicated process.

Why Post Office Life Insurance?

• Get a quote online in minutes, so it's easy to fit around a busy family routine
• Cover available from £10,000 up to £750,000, depending on your age
• Choose between level, decreasing or increasing cover, or a joint policy if you have a partner
• Add optional critical illness cover and children's cover for extra protection alongside your policy for an additional cost
• Terminal illness benefit included as standard: if you're diagnosed with a terminal illness and given less than 12 months to live, 100% of your lump sum is paid to you in advance
• 24/7 access to a UK-registered GP , plus health, wellbeing and bereavement support1 for you and your family
• A provider supporting 140,000 customers in the UK today

Key takeaways

• Life insurance can help provide for children, partners and, in some cases, parents who depend on you financially
• Stay-at-home mums may benefit from cover too, since replacing the childcare and household support they provide often comes at a cost
• There's no dedicated ‘mum’ policy: it's about choosing between level, decreasing, increasing or joint cover to match your circumstances
• A health condition doesn't automatically rule you out of cover, though it may affect your premium or the type of policy available
• You can't take out life insurance on someone else's behalf, but helping your mum get a quote, or getting one yourself, can be done online in minutes