Why Women Need Life Insurance
April 30, 2017
Women make up more than half the total population, half the workforce, are over a third of the primary breadwinners, and earn a large portion of family income. Because women are so important to family income, women need life insurance. Unsure if you need life insurance? Here are 5 reasons women need life insurance.
- Your Household Work Matters
Whether you work outside the home, you likely do a lot of things for your family around your home. These tasks include house work, cooking, shopping, cleaning, driving the kids, laundry, shopping and caring for your pets. All these things not only take a lot of time, but they take knowing how to do them. If you die unexpectedly, your family would have to find a way to complete your tasks, among other adjustments to their lives. The money you leave behind in a life insurance policy will go a long way to pay for your family’s household care.
- Your Income Supports Your Family
More than a third of women today earn the primary income for their household. Women who are not the primary breadwinners earn about a quarter of their household income on average. Whether you are the primary or secondary income earner, your earnings likely make a huge difference in your family life and how your family lives. A life insurance benefit could provide for them if you are not there to support them.
- Women Need Life Insurance to Make Retirement Comfortable
Retirement these days seems more uncertain than it once was. With your life insurance policy, you can help to make it a more comfortable experience. A whole-life policy can provide for yourself and your spouse so that, when the time comes, you don’t have to worry about where some of your retirement money will come from.
- Provide for Your Family, Now & Later
Not only should retirement be comfortable for you, but for your children, too. Social Security may appear fine now, but it is unlikely it will be so in the future. Many women are taking steps to provide for their adult children through a life insurance policies so that when their kids decide to retire, they’re able to do so in a comfortable manner.
- Women Need Life Insurance to Leave a Legacy
Beyond providing for yourself and your family, you can leave a legacy with the money from your life insurance policy. Designate your money, or a portion of it, as a donation to your favorite charity or foundation, or request a new one be started in your name. With life insurance, you can accomplish great things in life, even after it has ended.