Women today have more career and
lifestyle choices than ever before. Yet whether a woman is married or single;
a stay-at-home mom or climbing the corporate ladder, most all are
underinsured.
Stay-at-home moms may not earn money, but the work they do at home would
be costly to replace. A recent survey estimated the cost of hiring someone for
childcare, cooking, cleaning, and household care at about $40,000 per year.
At least 64 percent of men have some form of life insurance, compared with
59 percent of women.
Most Americans are underinsured, but the problem is worse among women. Many women underestimate the
value of the services they perform in the home. And life insurance for the
working mom is sometimes not considered when the husband is the primary wage
earner. But in both cases, the family would be greatly affected if the mother's
contributions were lost.
Even without children, there are plenty of compelling reasons a woman
should take out a life insurance policy. To qualify for insurance, people
must be in good health. It makes sense to take out a policy when you are young
and healthy. A woman should also consider obtaining insurance to cover
funeral and burial expenses, estate taxes and outstanding debts. The proceeds
from life insurance can provide valuable assistance to your family as they
cope with these costs.
Life insurance generally falls into two categories; term and permanent. (See Term -VS- Whole Life Insurance)
Term insurance provides financial protection for a specific amount of time,
generally 10 to 30 years. It offers the greatest amount of coverage for the
lowest premium. Permanent insurance provides long-term financial protection.
The premiums for these policies tend to be higher because they accumulate a
cash value that grows tax-deferred, and can be borrowed against.
There are many reasons to purchase life insurance and all of these reason apply to men and women regardless if they are married or not, employed or not or have children.
Contact Term.com at 1.866.837.6266 to speak with an informed and licensed agent.
