Can Parents Who Already Have Life Insurance Get a Better Deal?

People are under protecting themselves by approximately £44,937, based on their mortgage debt alone

It is for this reason that life insurance needs constant reviewing.

According to Money Charity, the average outstanding mortgage debt is £119,937, while the average life insurance claim paid out in 2016 was just £75,000.

It is specially important for single parents to make sure your life insurance reflects any changes on personal debt, mortgages, and acknowledges life events like new jobs or divorce. Because it is down to you to maintain your mortgage and the lifestyle you want for your children.

Loss of income through incapacity or serious illness could have a major impact on your little ones.

Full cover Life Insurance for Single Parents is more affordable than you think.

No one wants to talk about death, but we need to turn our perception of life insurance because it is about providing financial security and peace of mind for those left behind.

Who would look after your children if you weren’t there anymore?

Life insurance can be as cheap as £10 a month when buying it through a broker.

Swapping your morning coffee for life insurance could help paying for food, mortgage or rent, utility bills, child care, school and everyday expenses for your children.

It’s very easy to pay more than you need to, even if you get it through a comparison site – due to huge commissions.

Alternatively, FCA registered brokers charge you no fees and they can get you seriously good deals by comparing insurances available and find the right fit for you. We recommend a mum specific site like Busy Bee or a specific market comparison website such as Life Insurance Finder.

After all, you want to make sure your loved ones are looked after if you die prematurely, not help pay for your insurance company rep to go on holiday to the Bahamas each year!