Three Reasons Why Women Need Life Insurance.
Today, many women are making more money than their spouse. Or they are single parents and the head of their household at the same time. For more context African American women are the head of 29% of all households, compared 13% for all women, according to the latest data.
While women are achieving an unprecedented work-life balance, a piece of the puzzle that is more often missing than not is life insurance, says Brian Greenberg, a multifaceted entrepreneur serving as a founder and executive of multiple online businesses, including as president of True Blue Life Insurance.
Of course you’re going to have auto insurance for the car…I hope ! Health insurance is usually taken care of by the job. Homeowners or renters insurance is sometimes a given. But life insurance essentially falls through the cracks for too many women.
Here are a few reasons why women need to have an life insurance policy.
Life Insurance Replaces Your Income
If your income support you, your children, and/or your partner, a life insurance policy will provide financial support for them in the case of your death. The policy could pay off a mortgage,various loans, and take care of everyday living expenses. Depending on how you structure it will pay for your children’s education. It’s not always a fun topic talking about your final wishes. But the earlier you address it the less stressful it can be for you and loved ones.
It Can Protect Your Interests
Even if you’re single and you don’t have any children, you still may have a need for life insurance. Many women are becoming business owners today. Some have large business assets that they want to protect in case of death or disability. Or maybe you carry a high amount of debt, have a co-signer for a loan or you take care of an aging or ill parent or family member, having life insurance will help protect your estate, your co-signer, and those you care about.
LIFE INSURANCE IS LESS EXPENSIVE FOR WOMEN
Typically, life insurance premiums are priced largely according to the average life expectancy for your gender and age. The bean counters (actuarials) got this figured out already. Women pay less than men for various reasons.
Women live longer.
They tend to take better care of their health earlier in life.
Women don’t traditionally work in dangerous occupations that shorten life.
What does that mean for you ? You can get the same amount of coverage for less money. That alone should make your bank account happy.
In the end it is best to have life insurance in place. Are you a women with children or loved ones that depend on you ? Then you have an insurable interest. If you want to explore your options contact me at 225–397–7735 for a free quote and consultation.