Best Life Insurance for Women 2022

life insurance for women

Unlike a generation ago, men are no longer considered the sole breadwinners of a household as women increasingly work and carve out their own careers.

With many women taking on more of the responsibility for running the home and children, it’s even more important that they start thinking about life insurance from day one. Proportionally, however, women are still less likely to have their own life insurance in place.

Life insurance for women applies to all circumstances, whether you are an older mother, a single mum, or expecting your first child. Why not provide the financial peace of mind that both you and your loved ones deserve should you die unexpectedly, which can be provided by a secure life insurance policy.

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What Is Life Insurance for Women?

Read on to find out about the different life insurance for women options available to you and how to choose the best type of coverage according to your needs.

Life insurance is financial protection by way of a lump sum payout should you die unexpectedly. It exists to remove the worry that debts will not be repaid or your dependents will struggle should you pass—the lump-sum funds through the payment of regular premiums into a policy that is paid to an insurance provider.

How Life Insurance Covers Women With Varying Personal Circumstances

As women progress through the various stages of life, both their professional and personal circumstances will change.

Life insurance is a flexible type of insurance. A policy is fully adjustable to reflect your ever-changing circumstances like a pay rise, purchasing a bigger home, the arrival of a new child, or even separating from a partner.

All women will have different circumstances, and a life insurance plan provides full flexibility. Here is a list of the main situations a woman may find herself in, allowing you to relate to how a life policy can best suit your specific circumstances.

Life Insurance for Single Women

After a separation or the death of a partner, a single mother still has responsibility for her children’s welfare and paying bills as well as rent or a mortgage.

If a life insurance policy is already in place in joint names, this can be cancelled and replaced with a single life insurance plan in the mother’s sole name. In case of a separation, it is prudent to maintain a dialogue with an ex-partner to ensure sufficient protection covers the whole family, including the children.

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Life Insurance for Stay-At-Home Women

If you stay at home, it typically means that your partner is the breadwinner as they have significantly more earning potential. Staying at home probably means your daily tasks include cooking, cleaning, food shopping, picking children up from school, and any subsequent homework.

If anything were to happen to your partner or yourself, how would you maintain your lifestyle, such as paying household expenses and childcare?

An insurance policy can provide that financial peace of mind through a payout that can help a family pay their bills and maintain their existing quality of life should a partner die unexpectedly.

Life Insurance for Pregnant Women

If you are pregnant, it is possible to take out a new life policy without affecting the cost of cover.

Questions a life insurer will need answers to will include your lifestyle and whether you had any pre-existing health conditions before you were pregnant.

If you are young, healthy, have a clean medical record, and do not smoke, premiums are unlikely to be any different to a woman who is not pregnant. However, answering all questions honestly, including your pregnancy, is crucial to ensure the cover closely aligns with your circumstances.

Life Insurance for Women Who Are Self-Employed

If you are self-employed, you most likely will not have a guaranteed salary, unlike an employee in a company. If there is a business downturn, your financial means will be adversely affected.

A life insurance policy for women can provide financial protection and peace of mind that comes with knowing should anything happen to you; then, your loved ones will be looked after through a monetary payout.

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Life Insurance for Women That Are Mothers

If you have recently become a mother, it is worth taking out one of the life insurance products as soon as possible. The sooner you can take out life cover, the lower the monthly premiums as you are deemed less likely to have any underlying medical issues.

You should try and minimise any risk that an unexpected death could have and the terrible effects on a family when a child is young. You can reduce such an eventuality through life insurance for women.

Life Insurance for Older Women

People are generally living longer, but you can still put a life insurance policy in place even if you are an older woman. If you are older, the cost of monthly premiums will typically be higher as an insurer will assess the increased likelihood that you may die compared to a younger woman, especially if you have any underlying health conditions.

For women in their 50s or 60s, a lower-cost type of policy known as an over 50s plan is available if you have already paid off your mortgage and no longer have children financially dependent on you. If you wish to provide loved ones with a small lump sum of money to pay for your funeral, this type of plan is a good option. We will cover over 50s plans in the next section.

Life Insurance for Women That Smoke

Life cover is also available for women who smoke. Smokers need to make known the full extent of their smoking activities at the start as it will affect the cost of premiums. The monthly premium for smokers is more than likely to be higher than for a non-smoker and, if not declared, may see a policy voided if a payout is ever required due to smoking-related death.

Joint Life Insurance

If you take out joint life insurance with a partner, both lives are covered simultaneously under a sole policy paid for with a single monthly premium.

With a joint policy, a payout will occur once, and following the first death, the coverage will expire, meaning the remaining partner will need to take out new life insurance, which is likely to be more expensive at an advanced age. It is the one downside to a joint plan and can be avoided by taking out two separate policies if required.

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What Are the Different Life Insurance Options Available?

There are several life insurance options available for women, and we will provide a broad overview of each of them:

Whole of Life Insurance

Whole of life insurance is the highest costing life insurance for women. A financial payout is due upon your death, whenever that is. As it is open-ended, the policy has no fixed duration, which means it is more expensive than a fixed-term policy.

With whole of life, the younger you are at the start of the plan, the lower the cost. If you are an older woman and do not start a plan until you are in your 40s or 50s, the monthly cost of this type of women’s life insurance can be very high.

Term Life Insurance

A policy that is known as term life insurance is one with a fixed end date. A term life insurance policy is often set up to tie in with the duration of a repayment mortgage or other longer-term financial commitment, which once paid results in you becoming debt-free.

A term life insurance plan is a lower-cost option compared to a whole of life policy. When the policy reaches its expiry date, no payout is due should you subsequently die.

Over 50s Plans

If you are over fifty, it is still possible to get a term or whole life insurance. However, it can be expensive. As mentioned earlier in this guide, a cheaper option is an over 50s plan.

Any payout in this type of plan is lower than other options. It works on a guaranteed acceptance basis where you automatically qualify for cover irrespective of any pre-existing medical conditions.

The payout on over 50s plans typically caps at around £30,000. Over 50s plans are useful for paying off small debts such as credit card balances, personal loans, or leaving money for funeral costs or monetary gifts for children or grandchildren.

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Family Income Benefit

Family income benefit works similarly to life insurance where dependents will be financially protected should you pass away.

The critical difference lies in the payment of the monetary amount. Instead of receiving a one-off payout as with a life policy, dependents will receive payments broken down monthly which helps to budget better than receiving a large lump sum.

Female Life Insurance Options – Premium Variations

With women’s life insurance, a policy’s flexible nature extends to the level and cost of cover throughout a policy. Depending on your current or expected circumstances, it is possible to choose from three types of premium: level, increasing or decreasing cover.

Increasing Term Cover

The premium cost and payout level are tied to inflation as measured by the UK government’s Consumer Price Index (CPI). If inflation is rising, increasing the cover amount will ensure that any payout will have the same purchasing power during or at the end of a policy compared to when the plan was started.

Decreasing Term Cover

The premium and payout amount will decline throughout the policy to align with your financial circumstances. For example, the policy may be taken out to match a repayment mortgage, where payments also reduce over time as the mortgage gets paid off.

Level Term Life Cover

The cost of the premium and the subsequent payout will stay the same for the policy’s duration. The downside of level cover is the payout’s size will be relatively small towards the end of a policy, especially if there is high inflation as unlike increasing cover it does not keep pace with the CPI index.

If you want to apply for a life insurance policy that correctly aligns with your circumstances, call 0203 129 88 66 for a free life insurance quote. One of our partners will be on hand to run through all your insurance options including an accurate quote from our wide list of insurers.

Terminal Illness Cover

Terminal illness cover is typically included as part of a life insurance policy. When taking out cover, you should ask your insurer if your chosen plan includes terminal illness.

Terminal illness protection permits you to make an early payout claim on your life insurance policy if you become diagnosed with a terminal illness and are likely to pass away within a year of diagnosis.

An early financial payout can help with high medical costs and give you time to organise your estate while spending precious time with your family and loved ones.

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How Do You Choose the Best Life Insurance Cover for Your Needs?

Life insurance for women cover is not a product where one size fits all as people have different requirements according to their stage of life and financial circumstances. The lowest cost policy is most definitely not always the best cover.

It is crucial to completely understand what your financial obligations are and mould a policy around these requirements. A reputable life insurance broker will work with you to understand your needs and then create a policy tailored to these needs. A secure policy will then offer the flexibility for adjustment as your life and requirements continue to evolve.

How Much Does Life Insurance for Women Cost?

The cost of life insurance can vary significantly between individuals and requires a complex series of models and algorithms by professional underwriters to provide a quote that accurately matches your circumstances.

To understand your situation, questions will need to be asked to calculate a premium that reflects your activities and lifestyle and is highly likely to pay out when you need it most.

To get an accurate life insurance for women quote the following questions might be asked:

  • What is your annual, monthly or weekly salary?
  • Do you have a pre-existing medical history with underlying health issues?
  • Do you drink alcohol? If so, what is your average alcohol consumption?
  • What is your smoking status? Are you a smoker or a non-smoker?
  • What is your height?
  • What is your weight and body mass index (BMI) level?
  • How much life insurance do you need?
  • What is your age and how long do you need life insurance coverage?

The answers to all these questions will be considered and will come up with the level of likelihood that you will die. A 28-years old non-smoker with no underlying medical conditions will pay a lower premium than a 50-years old smoker with a medical condition.

When it comes to pregnancy, it is the piece of information that also needs to be disclosed. However, if you have existing life insurance, you don’t have to inform your insurance provider about that.

Insurance Hero partners are experienced in providing life insurance coverage that tailors specifically to the needs of women. Please call today on 0203 129 88 66 for a competitive, no-obligation life insurance quote.

Associated Types of Women’s Life Insurance

Critical Illness Cover

Critical illness cover is the one that has a long association with life insurance where it can be included as part of an additional feature of a policy or as a stand-alone cover.

Critical illness cover works by providing financial peace of mind for you and your dependents should you no longer be able to work. Unlike life insurance, the payout is not dependent on death. Instead, a lump sum is provided should you survive at least ten days from the diagnosis of a critical illness and no longer be able to work.

The list of qualifying illnesses is decided at the outset of a plan and can tailor to include diseases that may be more specific to women; otherwise, a list of standard conditions that are covered will apply.

Critical illness cover generally applies to the following:

  • Parkinson’s disease
  • Motor neurone disease
  • Heart valve replacement or repair
  • Multiple system atrophy
  • Loss of hand or foot
  • Structural heart surgery
  • Benign spinal cord tumour
  • Traumatic brain injury
  • Alzheimer’s disease or pre-senile dementia
  • Benign brain tumour
  • Severe lung disease
  • Coronary artery by-pass grafts
  • Systemic lupus erythematosus
  • Primary pulmonary hypertension
  • Paralysis of a limb
  • Major organ transplant
  • Creutzfeldt-Jakob disease
  • Spinal stroke
  • Aplastic anaemia
  • Cardiac arrest
  • Aorta graft surgery
  • Blindness
  • Certain types of cancer
  • Third-degree burns
  • Terminal illness
  • Stroke

Income Protection

Income protection is another type of financial protection cover and again is not reliant on you dying to benefit.

Income protection works by providing a replacement salary should you be unable to work for a period due to an accident or illness.

When a replacement salary kicks in after you cannot work is specified at the start of a plan. It starts from as little as one month or as long as one year after you stop working. It usually matches up with your employer’s work policy regarding salary and absence from work.

As with other types of monetary protection, income protection works through regular monthly premiums paid to an insurer, the amount of which is agreed at the start of a policy.

You should consider Income Protection if you have financial commitments you would struggle to pay should you be unable to work.

These include:

  • An outstanding mortgage
  • Equity release loan
  • Outstanding credit card debt
  • Personal loans
  • Hire purchase agreement
  • Bank overdraft arrangements
  • Personally guaranteed business loans
  • Car loans or contract hire
  • School or further education tuition fees


Whatever your circumstances, whether you are an older woman, a school or college teacher a woman that smokes, a mother, or a mum-to-be, a life insurance policy can provide financial peace of mind.

It will take away the day-to-day worry of what will happen should you die unexpectedly by ensuring that outstanding debts are repaid and allowing dependents to maintain the same level of lifestyle as when you were alive.

Remember, the sooner you take out women’s life insurance, not only will instant financial protection be put in place, but monthly premiums for younger women are likely to be lower cost.

If you are married and your husband is interested in cover there is help available. Dads’ life insurance plans are also an area are partners are familiar with.

Get a policy that is tailored specifically for you. Be fully protected whatever happens.

Also, check out our article on the definition of critical illness.

*£100,000 cover from £5.00 per month* – based on a 30-year-old non-smoker taking out £100,000 level term cover over 20 years (L&G) – Prices correct as of May 2022