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