Life Insurance for Women

Life insurance policies offer financial protection to your dependents when you die, whether that involves paying off a mortgage or to make provisions for your children’s education.

However, what life insurance providers offer can vary greatly and you may find different considerations for female applicants.

So, whatever your situation, when it comes to arranging women’s life insurance,  whether you have a partner or are a single mother, there are several things you should be aware of.

We’ll address them in this article, covering the following topics:

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What is life insurance for women?

Life insurance is a product that ensures your dependents are financially looked after when you die.

You won’t generally find insurance that is ‘only for women’ but you may see life insurance products marketed specifically to women.

In these instances, a provider would have specifically thought about the particular needs that women have and addressed these in their policies. It may include things like pregnancy, extras like critical child illness cover and female health conditions.

The best way to decide which option to go for is to speak to a life insurance expert as they’ll be knowledgeable in the different types of policy and terms and conditions so they can recommend the best one for you.

Give us a call on 0808 189 0463 or read our guide to life insurance to find out more.

How can I apply for life insurance?

The first thing you need to do is find a provider, and then a few more so that you can compare quotes.

We can help with this as we work with experts in the field who can offer you professional advice, gather quotes and compare them to make sure you’re getting the best cover for the best price.

To get specific quotes based on your own circumstances, you’ll need to provide information to the provider(s).

This will include:

  • Your age
  • Medical history
  • Past and present drinking and smoking habits

A provider will then make a decision on whether to offer you a policy, and quote a price for the cover they can offer.

What happens to your policy if you become pregnant?

Becoming pregnant may change the terms of your life insurance.

This is because the more risks there are to your health, the higher the premiums you’ll be expected to pay.

This will vary between providers so you need to check the specific terms of your policy.

You should consider the following things when making your application:

  • Timing of your application – if you decide to take out life insurance during your pregnancy, providers are more likely to offer you a better deal during the early days of your pregnancy so aim to apply as soon as you can.
  • Pregnancy conditions – some women develop complications during  pregnancy, such as diabetes or anaemia, that subside after giving birth. If during pregnancy you have a condition that may affect your policy it may be better to wait until after you’ve given birth. There are some providers who may suggest that you apply while you’re pregnant, but you can delay the start of the cover until after you’ve had your baby.

Can health conditions affect life insurance?

If you have a specific illness, whether it’s specific to women or not, you shouldn’t let that stop you from applying for life insurance. There are some providers who may decline you for a policy if you have certain conditions, but there are also insurers who won’t be put off offering you cover, although you may find your premiums are higher to reflect the risk the insurer is taking.

Depending on the condition insurers will consider the following:

  • Type of condition
  • Whether it’s a pre-existing condition
  • Severity of the condition

If your condition is managed then you don’t have a cause for concern, since providers will be more likely to offer you life insurance. However, if you’re diagnosed with a terminal illness it’s unlikely you’ll be able to get life cover.

Does life insurance change once you have children?

Once you have children there are more considerations and you may find that you want additions made to your existing cover.

Here are some of the common situations you might need to address:

  • Your working patterns – If you go back to work full-time after having a child you’ll be in a different financial position to someone who goes into part-time work, or becomes a stay at home mum. Any changes to your income may affect the type of policy you can afford – however this shouldn’t be a problem and you should be able  to find affordable options by speaking to an expert.
  • Your outgoings – If you have a mortgage and you don’t want the financial responsibility to be passed to your children, you might want to ensure that your insurance is sufficient to continue to pay the mortgage so that your dependents aren’t faced with losing their home.
  • Lump sum – While you can arrange for funds to be passed onto your children to pay for major expenses like property and even your funeral, you might also want to arrange for a lump sum so that they have some income that they can spend as they wish. It’s also possible to make arrangements for a lump sum life insurance payment to form a trust so that children can benefit from the money when they reach a certain age.

See our guide to life insurance for mums for more information.

Does postnatal depression affect life insurance?

If you develop a condition after giving birth you’ll need to declare it to your insurance provider. However, postnatal depression isn’t a condition which should have a major or long-lasting effect on your life insurance policy.

Insurers usually just want to know a condition is properly managed and, if it is, there shouldn’t be a problem in you getting life insurance. Most cases of postnatal depression tend to reduce or disappear altogether over time.

Should you take out life insurance if you’re single?

Generally speaking life insurance only becomes beneficial when you die. If you don’t have children you may not have anyone relying on financial support, in which case you don’t need to take out life insurance.

If you have other dependents though such as a partner, sibling or other relative who relies on you financially, you could take out insurance to ensure they’re looked after in the event that you die unexpectedly.

Speak to an advisor to find out more

If you have any further questions on the topic of women’s life insurance,speak to an expert who can give you advice for your specific set of circumstances.

Call 0808 189 0463 or make an enquiry.

We’ll match you with one of the expert advisors we work with, and make sure that the person you speak with has experience of arranging life insurance for women.

All the advisors we work with are fully independent with access to insurance providers across the UK so will work to get you the right cover for the most competitive price.

The service we offer is free and there’s no obligation.

We'll match you with your perfect financial advisor

Save time and money with an expert who specialises in cases like yours

We'll match you with your perfect financial advisor

Save time & money with an expert who specialises in cases like yours.

We’ll match you with your perfect financial advisor – for free.