5 Reasons Why Experts Recommend Women to Get Life Insurance Policy

No matter what life stage you are in, life insurance for women is important now more than ever. Women do a lot to provide and care for their families, making up around 57% of the workforce today, so it’s imperative that you have a plan in place if the unexpected happens in order to continue providing that protection for the ones who rely on you financially. Here are five reasons why women need life insurance:

1. No doubt Single Moms are superheroes…yet they also need some protection

Single mothers provide most if not all care for their children. Between groceries, childcare, clothing, and extracurricular activities, the cost of raising children adds up significantly. A life insurance policy can help continue to provide funds for this care after you die, covering the cost of their current needs and even providing for future expenses such as their college education. In fact, many life insurance policies offer riders that help cover any children under the age of 18 in your policy.

Naming your kids directly as beneficiaries gets complicated, and could leave their benefits in the hands of an assigned guardian.

Here is a story of a nurse and a single mom Amie. She bought a living benefits life policy and after 5 years, she was diagnosed with a Stage 3 breast cancer. At that time, the decision that she made 5 years back came to her rescue.

2. If you are pregnant

While you register for baby gifts and plan your doctor visits, life insurance should be included in your family growth plan. Whether this is your first child or your second or third, a growing family means growing financial needs. Between diapers and doctor visits, a new baby provides joy but also more financial responsibility. Be sure they’re covered with a life insurance policy in case the unexpected happens.

3. If you are a business entrepreneur

Your small or family business is also affected financially in the event of your death. By naming your business partner or business as a beneficiary in a life insurance policy, you can help protect them from the negative financial impact your death would have. Setting up a buy-sell agreement with your life insurance policy will help ensure your business partners and their families receive what they need in the event of your untimely death.

4. If you are the primary breadwinner

Whether you’re married or not, or if you have kids or not, if you are the primary or sole income-earner in your household, it is essential for you to have life insurance. The windfall of a death benefit can help cover the valuable income that your household relies heavily on month to month. Be sure you buy enough life insurance to cover them for however long it may take for them to become financially independent after you die. A good rule of thumb is to buy ten times your annual salary, but if you’re still not sure how much you need, you can use an online life insurance needs calculator to help you determine exactly how much life insurance you should buy.

5. If you have elderly parents

Just like the cost of caring for children, if there are adult family members who rely on you for care and financial support, a life insurance policy can help you continue to provide that support after you’re gone. Whether they’re in a nursing home, have medical bills, or health issues that need managing, be sure your elderly family members continue receiving the care they need in the event of your untimely death by naming them as beneficiaries in your life insurance policy.

6. Stay at home Moms need protection too

Women need life insurance now more than ever. If you have any questions regarding life insurance for women, call us directly at 1-800-521-7873 or you can visit our life insurance quotes page to see what we can do for you!