Historically, women tend to hold themselves in low esteem and their contribution at home and at work.
Statistics show that only 1 out of 3 women have life insurance and even if they do have insurance coverage, it is not adequate. In fact, 56% of working women believe that they do not have adequate coverage, or they are not sure whether it is adequate. Many women find jobs of adjustable work hours so that they take care of their family members, in addition to their outside work. As working outside the home has a dollar value, most women fail to contribute as a home-maker.
Never underrate the value of your role as a homemaker. Home-schooling, transporting your kids, cooking, house-keeping, running household tasks, as well as caring and nurturing that helps in running your home smoothly and efficiently are beyond value. Working in partnership with your husband at home is as valuable as having a dual income.
While 2 of 5 women enjoy their role as home-makers, families with a dual income are becoming the general picture of a modern family. Both husbands and wives work outside their home to meet their needs. Statistics show that while 80% of women understand life insurance well, about 44% have never discussed this topic with their spouses. Working women should have adequate coverage that would recompense for any financial loss that would be acquired by her premature death. Many homes use the husband's salary for their daily needs and put a major part of the wife's salary into savings for college education for their kids, retirement or some other essential things. Losing a wife's salary means losing those savings or putting their children in daycares centre.
You may not get time to think about life insurance if you are a single parent. It is imperative for women who are widowed or divorced, particularly with their children, to give some time to understand and purchase a life insurance that suits your needs. Your need for life insurance becomes more critical when you solely bear the financial responsibilities at home. Think about what would happen to your family when your suffer a disability or were to die. If your children are young, you can designate someone you trust to take care of your children.
If you are a single woman with no kids, widowed or divorced your life insurance needs may not be as important but you should get life insurance as a mean to pay off your funeral expenses or loans which may become burden for your parents if you died.
Life insurance for women is (a) cheaper proposal than it is for men. As statistics show that women live longer than men, you will find a life insurance for a 25-year old woman, cheaper than the life insurance for a man of the same age.