Life Insurance for Women
If there is anyone dependent on your income – parents, children, relatives – you need life insurance – Suze Orman
In the 21st century, women are empowered socially and can be found in every profession. Across North America, and the UK more women are enrolled in universities than men. Women are contributing more to the household income and are essential to maintain a certain lifestyle. Women are becoming breadwinners and do not understand their financial value and often do not take financial protection or life insurance.
I am starting a new series Life Insurance For Women. I am going to interview Chad from GoLife insurance https://golife.ca/fourcolumns on the following ten topics:
- Women are being overcharged, a lot, for mortgage insurance – what you need to know!
- Why women talk themselves out of the life insurance they want/need?
- How to prepare for baby- 3 pieces to financial protection (will, mat leave savings, life insurance).
- Is underwriting for women different?
Today many women make more than their spouses or are single-parent families. If something were to happen to you, life insurance will cover a lot of the expenses and will take care of your dependents. In North America, more than 50% of single mothers do not have insurance.
Women can use life insurance to save money.
Women can use insurance to protect against disability, chronic, terminal, and critical illness.
The life expectancy of a woman is more than a man. I also want to make something very clear. Life insurance is also for the stay at home mom. A stay at home mom is one of the most difficult jobs but also adds so much emotional, mental, psychological, and spiritual value to the household. If something were to happen to you, a cook, driver, or housekeeper would have to be hired.
If you are the matriarch of the family, your death could have an impact on the family.
As a single person, life insurance could pay off your student loans, taxes, bills, and other debts that your family might have to pay for.
I want you to think that life insurance is an investment and not an expense.
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Photo Credits: Andrew Neel LinkedIn Sales Navigator, Victoria Heath Joey Pilgrim Joseph Kellner
I know so little about insurance that this article was very helpful! Thank you.
I don’t know a lot about the subject so this article was very helpful.
Life insurance is so important and like mentioned most people think of it as an expense and not an investment. Early on in our marriage we both took out policies. We were more concerned about me being the majority bread winner in the family but were urged to get one for both of us. Great article with may helpful tips for those who don’t understand life insurance.
This is such an important topic today! Thanks for highlighting this topic! Many women still don’t realize the importance of having a life insurance. But as you have correctly mentioned, since women are bread earners today, and have significant contribution to the income of the family, it is very important to have their insurance!
As I don’t yet have many assets and no kids, I haven’t given life insurance much thought. Definitely something to consider though – thanks!
I haven’t thought of a life insurance but after reading your post I agree that it is very important. I must consider this as an investment. 🙂
This is great information!. My boyfriend made me get life insurance about a year ago for a lot of your same reasons. I think about it yall are right, it is well worth it!
Such an important topic and yes you’re so right, women tend to avoid the subject on life insurance as they think its expensive. I too am in that category. Thanks for opening my eyes.
Life insurance is a must have and you give excellent reasons that support this. It’s great that you bring great awareness to this topic.
I think life insurance is important for any person. First of all it gives you a mental push, making you feel more secure about your and your nearest and dearest people’s future
Life Insurance is well worth it! So sad to see families putting up a go fund me for their loved one.😢 Great info! Thanks
Life insurance is definitely something to have, whether you’re a single mom, stay at home mom, single woman, whatever. It can give the people you leave behind tremendously peace of mind if something happens.
Totally agree. I have life insurance and I’m a stay at home mom. It would cost a lot to replace my services to the home. Thanks for the post!