If you’re a mother, you need life insurance. Life insurance is what gives you the peace of mind that your family will be taken care of should the worst-case scenario occur. And if you think that you don’t need life insurance because you
- Are a stay-at-home mom
- Don’t make as much as your partner
- Are the major breadwinner and your partner handles most household responsibilities
you’d be wrong on all counts. Because it doesn’t really matter what you’re responsible for — the fact is, you probably take on 50% (let’s be honest – more!) of the family’s responsibilities. And this means you need to be insured.
Stay-at-home moms, can you imagine how much a cook, cleaner, personal driver, and tutor would cost? And working-out-of-the-house moms, can you imagine what would happen if your salary no longer contributed to the family’s income? Either way, your family would be in a bind if you are no longer able to provide what you’ve always given.
Which life insurance in best for mothers?
Okay, now that we’ve established how important it is to have life insurance, it’s time to choose which kind. There are many types of life insurance policies, but the two main kinds are:
- Term life insurance
- Permanent life insurance
Term Life insurance is available for different term lengths — 10, 20, 30 years. It’s less expensive than permanent life insurance, which usually gives coverage for the policy holder’s entire lifetime. Term life insurance only pays out in the case of the policy holder’s death during the policy’s term. If the policy holder outlives his term insurance policy (which is the hope!), he gets no money. Permanent life insurance, on the other hand, pays a death benefit whenever the policy holder dies.
If this seems too simple, not to worry! There are plenty of subcategories within term and permanent life insurance, enough to get you stressed and make your head spin. But since we’re talking about mothers, let’s talk about which life insurance is best for you.
No exam life insurance, a type of permanent life insurance, is a great option for mothers. Here’s why.
As every mother knows, life is hectic, crazy, full of surprises. You have 101 things to do and there’s never enough time in the day. Taking the time to apply for traditional life insurance policies — which include lengthy medical questionnaires and a doctor’s exam — can seem impossible. Worse, it can be so daunting that you may end up procrastinating.
No exam life insurance takes away that hassle and doesn’t require to use your precious time to go to the doctor. With no exam life insurance, there’s no medical exam — you can simply fill out a form online and get approved. When you use Sproutt, you can even compare different policies online and get the best quote. So instead of the long, drawn-out process that comes with traditional policies, no exam life insurance offers quick and easy coverage.
Most importantly, it ensures that your loved ones will be taken care of. And that’s the ultimate goal of any life insurance policy. No exam policies just make it easier to achieve that goal.
For our UK-based audience, Reassured.co.uk have written this comprehensive life insurance for mums article which may be of interest. Reassured are able to compare multiple quotes on your behalf completely free of charge.