Life Insurance

3 Reasons Why It’s a Smart Decision for a Woman – (Whether She is an Employee or a Mompreneur) – to Get Life Insurance

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Couple of years back, I got the scary badge of a single parent, entrusted with deftly juggling and caring for two children, a home, a blooming business; not to mention myself. Being the only breadwinner of the family, I found myself overwhelmed and extremely tense. The questions that often haunted me were, “What if something were to happen to me?”. I kept worrying about how my grieving children could cope with financial aspects, already burdened as they would be from the emotional loss of losing me.

Everything happens for a reason – this belief seemed apt for a number of reasons, one of which is that I come from an insurance industry background. I have always had to work around the plans and policies that could secure my future as well as that of my children, helping me become familiar with them. Many of you out there may not have enough information about the same, nor the roadmap to secure the future of your family.

Contacting a finance/insurance expert who can empathize and help is always just a call away.
My story could be anyone’s story. And women, in particular, tend to have less life insurance coverage than men. So, here’s why it’s a good idea to take stock:

  1. Women pay less for insurance—or get more coverage for the same amount.
    The cost of life insurance is less for women as compared to that for men, as women have longer average life expectancies than men.  Also, bear in mind that the younger and healthier you are, the less it will cost you.
  2. Women are increasingly dominant as the primary breadwinner in the family:
    Whether you’re earning more than your spouse or you don’t have a spouse, your income is critical to providing the most basic of needs to your family, whether that family involves kids you’re raising, aging parents or a special-needs sibling you’re caring for. Life insurance ensures that whomever depends on your livelihood can continue to do so even if (heaven forbid) unexpected circumstances leads to your incapacitation.
  3. Women’s situations can change: Just when you think you’ve gotten your life insurance needs all taken care of, you might experience change that may or may not include more additions to your family, closing down of a business, unforeseen divorce, or a family member who needs your active support in the future. Is your insurance up-to-date with your changing needs?
    I personally experienced a lot of changes after I chose the right kind of policy for myself and with which my dependants would benefit for sure in case of any uncertainty. It’s a great feeling to discover that your right decisions at the right time eliminates the worries.
    Remember, sticking to your budget is key. An insurance agent will sit down with you free of charge to go through your needs and help you find coverage that fits your budget.

‘Become your own best friend, care for our own life at the right time.’ Connect with me to share your story.

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