Women and life insurance
Why should a man buy life insurance? To protect his family,
replace lost
income if he dies, provide for his own retirement
security and so on. The
decision to purchase insurance
typically reflects a loving commitment to family
and recognition
of the need to meet other financial responsibilities.
Why should
a woman buy life insurance? For the very same reasons.
Some facts
- Just 40 percent of women own individual life insurance.
- (Source:
“MarketTrends — LIMRA’s Factbook: 2010
- Trends in United States”)
- Women of all ages average smaller amounts of individual life
- coverage than
men of similar ages. On average, women have
- $129,800 of individual life
insurance, while men have
- $187,100 of individual life insurance coverage.
- (Source: “Facts About Life 2011” LIMRA, 2011)
- The time mothers spend performing
- the 10 primary “mom job functions”
- would
equate to an annual cash compensation of $117,856 for a
- stay-at-home mom.
Working moms would earn $71,860
- above their regular salary. (Source: salary.com,
2010 survey)
What about you?
What does your life insurance coverage
look like? Is it adequate to
help your loved ones, meet your objectives and
fulfill your responsibilities?
- If you’re part of a two-income family — Today in many
families,
- husbands and wives are economic partners and those two-income
- families
typically depend on both paychecks to make ends meet.
- If you’re a single woman heading a household — If you’re
the sole
- breadwinner responsible for the support and care of your children,
- your
need for life insurance may be more crucial than in a
- dual-parent household.
- If you’re a full-time homemaker — How would your husband
and
- children manage without you? While much of what you do as a mom is
- beyond
value, replacing some of the services you perform could cost
- tens of thousands
of dollars a year.
- If you’re a single woman — You may be single but you’re
probably not
- without responsibility. You may have a mortgage or outstanding
credit card debt.
- Perhaps you help provide support for aging parents or
grandparents.
- Should anything happen to you, there will be final expenses that
could cost
- tens of thousands of dollars. Without life insurance, these
obligations could
- fall on parents and other loved ones.
Call me — I’m here to discuss your individual situation so that
you can
decide if life insurance is appropriate for you.
And if you feel it’s not
necessary at this time
we can review your other insurance policies so
you can be
sure you have the coverage you want.
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