Women and Life Insurance
Life insurance is something women should take very seriously! The lack of proper life insurance, or not having
enough of it can have a dramatic impact on a woman's life!
There are two main ways to look at life insurance and how it impacts women:
- A spouse not being properly insured and dying
- A woman dying and leaving children
A Woman With a Spouse Who is Un- or Underinsured
When a woman's husband dies she is left with many different expenses. These include all sorts of costs
associated with the actual funeral itself. They may also include things such as paying off a mortgage, a car
loan, sending kids to college and many more.
If her husband brought in a large income - and especially so if he made most of the money - she may
have a difficult time paying all these bills if he didn't have a good life insurance policy!
If he did have a good policy - she may end up in a very good position financially - able to pay off the house,
send kids to school and everything - and be able to grieve without worrying if she and her kids will even
have a home or food to eat.
If you are a married woman with or without kids with a spouse who brings in most of the income and you don't
think you would be able to support yourself and/or your kids if your husband unexpectedly died - and your
husband doesn't have a life insurance policy - you should have a long talk with him! There are many affordable
life insurance policies available too!
The Value of Stay At Home Moms
If you die and you have children and you were the one who stayed at home and took care of them while your husband
worked - who would take care of kids? Your husband would have to pay for daycare, do all the cleaning, cooking,
shopping, etc. for the kids. But he also has to work a day job (not that there aren't a lot of single moms
out there working full time jobs and raising kids alone!). It may not be easy or possible for him to take
off of work to take kids to doctor appointments and so forth. He would have to pay someone to do all of that
while he works - and all while he and the children are grieving your loss.
If you add up how much it would cost to pay someone to do all those things until your kids are old enough
to take care of themselves it can be a lot of money - $100,000 or more - over a number of years! You should
make sure that you also have a life insurance policy to cover those expenses if you should die unexpectedly.
Don't underestimate your worth as a stay at home mom!
Educating Yourself About Life Insurance
Some of the things you need to learn to be able to make smart choices about life insurance coverage are the
types of life insurance available, how much coverage you need, where to buy it from and to get familiar
with insurance terms.
Overall there are two major types of life insurance: term life and permanent insurance - and then
there are different types both those. For example, you can get Whole life, variable life or universal
life permanent insurance.
Don't cheat yourself by not taking the time to learn about life insurance - you let yourself not be
insured enough and don't let yourself end up paying insurance you don't need either! Learn and
it will pay off for yourself and your family.