For the longest time, insurance was centered on men but these days more and more women are financially independent. Most of us are responsible for raising the children, caring for elderly parents, managing the home, climbing the proverbial career ladder as well as any financial responsibilities like loans and debts. Having life insurance protection in place will give you peace of mind and is extremely practical should you die, become disabled or develop a critical illness.
Whether you are a single woman, a single mother, part of a dual income family, a stay at home mom or a self employed woman, we all need the insurance protection.
Single woman may feel that there is no need to buy life insurance protection because they have no dependents but almost all women have responsibilities. Who will take care of your financial and other responsibilities?
Single mothers are loaded with responsibilities and having the life insurance coverage is vital. What would happen if you lost your income due to a critical illness or a disability, how would you take care of your children? Having insurance can mean you are able to take care of your children and have your basic expenses paid.
If you are part of dual income family you know how important each of your incomes is and what that means to your lifestyle needs. If you were to lose one of those incomes, could you afford your home, childcare, basic expenses or the lifestyle you are used to? Insurance will help if one income is lost as a result of a death, disability or critical illness.
Stay at home moms may not worry about life insurance because they don’t depend on an additional income however there are always expenses that you can’t see. For example if something were to happen to the stay at home mom would childcare be an additional expense, perhaps household maintenance would require support from outside services. Together with the childrens future expense such as university etc. you may require the additional funds made available through insurance protection.
Self employed woman definitely need disability insurance and critical illness insurance as they don’t benefit from the already in place insurance plans that working for a company offers. Life insurance provides that extra protection needed to ensure peace of mind should anything unexpected happen.