Life insurance for women – is it something I should consider?

Insurance Forum Life Insurance
1

I’ve been thinking about getting life insurance but not sure if it’s something I really need. I work part-time and take care of the kids most of the time. Does anyone here have life insurance, and if so, what made you decide to get it?

2

I’m in a similar situation and decided to get life insurance because even though I’m not the main earner, my role in taking care of the house and kids is huge. If something happened to me, my partner would have to cover childcare costs and other household expenses, so it just made sense.

3

@Fenn
That’s exactly why I got it too. It’s not just about covering the mortgage but also making sure my family could maintain their lifestyle without me.

4

I added Critical Illness Cover to my life insurance. I figured it’s worth having just in case something happens that isn’t necessarily death but would still have a financial impact on my family. It’s good peace of mind.

5

@Marin
I’ve been thinking about adding Critical Illness Cover too. Did you find it made a big difference to the cost?

6

Zephyr said:
@Marin
I’ve been thinking about adding Critical Illness Cover too. Did you find it made a big difference to the cost?

It increased my premium a little, but I felt the extra coverage was worth it. It really depends on what you’re comfortable paying each month.

7

I went for Decreasing Life Insurance because I wanted to cover my mortgage. The coverage amount decreases over time, but since my mortgage will too, it fits perfectly with what I need.

8

Merlin said:
I went for Decreasing Life Insurance because I wanted to cover my mortgage. The coverage amount decreases over time, but since my mortgage will too, it fits perfectly with what I need.

I did the same thing. Decreasing Life Insurance is a good option if your main concern is making sure the mortgage is covered.

9

If you’re still unsure, try using a life insurance calculator. That’s how I figured out how much coverage I’d need based on my situation.

10

I also recommend locking in your premium early. My policy is affordable, and the premium stays the same unless I make changes to the policy, which is nice for planning ahead.