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  • Writer's pictureDylan Edwards

What Women Need to Know About Life Insurance

If You’re Married

The majority of today’s families depend on two incomes

to make ends meet, yet working wives are less likely than

husbands to carry life insurance coverage.1 If you died

suddenly, could your family maintain their standard of

living on your husband’s income alone? Probably not.

Life insurance makes sure that your plans for your family

don’t die when you do.

If You’re a Single Parent

As a single mom, you’re the primary caregiver, breadwinner,

and so much more. Yet more than one in three single

moms have no life insurance whatsoever, and many

with coverage say they need more.2 With so much

responsibility resting on their shoulders, single parents

need to make doubly sure that they have enough life

insurance to safeguard their children’s financial future.

If You’re a Stay-at-Home Mom

Just because you don’t earn a salary doesn’t mean

you don’t make a financial contribution to your family.

Childcare, cleaning, cooking and household management

are all important tasks, the replacement value of which is

often severely underestimated.

Could your husband afford to pay someone for these

services, or take over these obligations and still work full

time? With life insurance, your family can afford to make

the best choices.

Don’t Forget About Coverage for Dad

In addition to addressing their own life insurance needs,

it’s important for married women to make sure their

husbands are adequately insured. More than a third of

women age 65 and older are widowed.3 What if you

outlive your husband by 10, even 30 years? If your

husband has adequate life insurance coverage, you won’t

have to worry about living your remaining years in a state

of financial uncertainty.

If someone depends on you, chances are you need life insurance. Why,

then, are men more likely than women to own life insurance? Common

misconceptions prevent women from getting the coverage they need.

For instance, you don’t need to be the primary breadwinner in your

household to need life insurance. Most stay-at-home parents need life

insurance, too.

To determine if your life insurance plans are up to date, take a moment to review

these important considerations.

1 Bureau of Labor Statistics, Employment Characteristics of Families, 2010

2 LIMRA, Flying Solo - Single Mothers Protecting Their Families, 2011

3 U.S. Census Bureau, 2013

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