Life Insurance For New Mums: Why It Matters Now

Life insurance is not usually at the top of the mind of mums welcoming a new baby into their lives, but it should be.

The moment a child is born, their parents become responsible for their future.

Should something happen to you, mum insurance in the UK can make the difference between your family continuing a life resembling what they had before and years of financial woes. 

We all know that when you’re young and healthy, it’s hard to imagine not being there for your children. However, bad things can happen to anyone.

Before writing off life insurance for new mums as unnecessary, consider the eighteen (or more) years a child typically relies on their parents before they can support themselves.

If you were gone, would your surviving partner be able to provide for your family on their own?

Life Insurance For New Mums. Get Covered Today

Why, As A New Mother, You Shouldn’t Delay Securing Cover

Reason	Our Explanation
Financial Security for Your Child	Life insurance ensures your child will be financially supported for essentials like food, housing, and education if something happens to you.
Covering Debts and Expenses	It can help pay off a mortgage, loans, or other debts so your family isn’t left struggling with financial burdens.
Peace of Mind	Knowing your loved ones are protected allows you to focus on bonding with your baby without unnecessary stress about the future.
Rising Costs of Delay	The earlier you take out cover, the lower the premiums usually are. Delaying could mean higher costs or even reduced eligibility.
Protection During Vulnerable Years	Early motherhood is a time when your family is most financially dependent on you, making immediate coverage essential.
Medical Certainty	Health issues can develop unexpectedly. Taking out cover now locks in protection before any medical conditions could affect eligibility or cost.

What Life Insurance Can Do for You

The cover amount for a mum’s insurance policy can provide the financial security your family needs in the event of your untimely death.

It can be used to pay medical bills, a home mortgage, outstanding loans, education costs, and the hiring of other people to assume the responsibilities you manage, such as childcare, housecleaning, and cooking.

Without life insurance, your spouse may be unable to pay bills that depend on a dual income. Managing the day-to-day is difficult enough without a partner, but it becomes much worse when you’re burdened with debt and unexpected expenses.

Knowing that your family is protected can also bring you a sense of peace of mind. With adequate cover, your children will have a greater chance of pursuing their dreams and having a rewarding future.

Now Is Better Than Later

Securing life insurance coverage is easier than you might think. You can visit the Insurance Hero quote page, provide some basic information, and specify the amount of cover you want. Our system will then provide quotes from trusted providers for you to review.

After you decide which policy makes the most sense for you, you name the people (called ‘beneficiaries’) who will receive the payout. It’s that simple.

There really is no reason for a Mum to delay getting cover. To keep the life insurance policy in effect, you pay a monthly premium, which will vary depending on your health, age, type of cover, amount of cover, and other factors.

Types of life insurance for new mums

What is level term life insurance?

Level term life insurance pays out a fixed amount, known as the sum assured, if you pass away during the policy period.

The payout and monthly cost stay the same throughout the chosen term, which can range from 5 to 40 years.

• For example, if you choose £200,000 cover for 25 years and pass away in that time, your family receives £200,000 tax-free.

• Level term policies are one of the most popular choices for mums wanting stability.

Couples often use this type of cover to protect their home and provide financial support to their children until they reach adulthood.

How does decreasing term life insurance work?

Decreasing term life cover pays out a lump sum if you pass away during the policy period. The payout amount decreases each year, much like your mortgage balance decreases as you pay it off.

• Many new mothers in the UK opt for this type to match their repayment mortgages. It means your family can clear the remaining home loan if something happens to you.

• This insurance often costs less than level cover because the payout shrinks over time.

Insurers such as Aviva and Legal & General offer these policies, making them easily accessible online or through a broker like Insurance Hero.

What are the benefits of whole of life insurance?

Unlike decreasing term insurance, whole-of-life cover does not expire after a set period. It remains in place for your entire lifetime, as long as you continue to pay the premiums.

• You may choose this type of policy to help cover funeral costs or leave a legacy for your children. Whole of life policies can also help cover inheritance tax bills in the UK.

• Whole-of-life cover can be used in conjunction with a family trust to ensure that money passes directly to dependents.

You do not have to worry about renewing it every few years, so planning feels simpler and less stressful.

What is critical illness cover, and should you add it?

Critical illness cover pays out a lump sum if you get seriously ill with conditions like cancer, heart attack, or stroke.

• This money can help cover the costs of private treatment, additional childcare, or bills if you are unable to work. Many mums add this cover to their life insurance for extra security.

• If diagnosed with a major illness on the approved list, critical illness cover steps in. Some policies can even protect your children.

Think about your family’s needs and budget before making any changes to your policy. Regardless of the type of insurance you select, the younger you are when you take out a policy, the lower the premiums will be. 

Should I choose a single-life or joint-life insurance policy?

A single life insurance policy covers just one person. If you are the primary earner or want protection for yourself, this option is often the best choice. A joint policy covers two people, usually partners.

It pays out once if either person passes away during the term. Joint policies may cost less than buying two single policies, but they only pay out on the first claim.

Single mums or those with complex family situations often choose a plan in their own name for more control. Couples may prefer joint coverage to simplify their finances and save money each month.

Consider your situation and decide who needs support the most. Some parents mix both types, as this can help families with different needs and budgets.

Don’t Delay

If you are a new mum, your children are the centre of your world. You want the best for them and their futures, but there is no way of guaranteeing that you will always be there to support them.

Life insurance can cover day-to-day expenses, settle debts, cover end-of-life expenses, and perhaps even leave your children a financial nest egg they can use later in their lives.

FAQs

Why do new mums need life insurance?

When you become a mum, your child depends on you for everything. Life insurance coverage can help protect their future if something happens to you or your partner. It offers reassurance, knowing your loved ones will have support.

How much cover should a new mum consider?

Consider your daily expenses, childcare costs, and any outstanding debts, such as mortgages or loans. Cover enough to keep things ticking over for your family if you are not there.

Does being a mother affect the cost of life insurance?

Motherhood itself does not typically raise prices; age and health are more significant factors in determining premiums. Still, each case is unique, and the Insurance Hero team can help you compare options before choosing what best suits your family’s needs.

Can I get life insurance while pregnant?

Yes, most insurers offer policies during pregnancy. Some may ask health-related questions, while others might want more detailed information from your doctor.

External sources related to this topic:

• https://www.citizensadvice.org.uk/consumer/insurance/types-of-insurance/what-critical-illness-insurance-is
• https://www.legalandgeneral.com/insurance/life-insurance/family/life-insurance-for-mums
• https://www.england.nhs.uk/2023/12/nhs-boosts-health-support-for-new-mums