Life Insurance Is A Necessity For The Modern Woman--Here is Why

6-Reasons-Why-Working-Women-Need-Life-Insurance_4
6-Reasons-Why-Working-Women-Need-Life-Insurance_4

The 21st century has seen a great number of changes in culture and the status quo of society has seen a drastic shift. In spite of the huge changes, many people have yet to catch up.

Perhaps one of the biggest arguments of the 21st century has centered around the role of the woman in family and society and over equality of the sexes. Theoretically, this argument is proving positive for women’s equality, and the implications of this shift are wide. Even with the more recent advancements for women’s equality, there are plenty of people who still resist the progress.

From the “burial clubs” of Ancient Rome to William Talbot and Thomas Allen’s “Amicable Society for a Perpetual Assurance Office,” life insurance has historically been a “man’s issue.” Life insurance policies were taken out for the man, and when he died, his widow and children received their due; this didn’t work the other way around. In so many ways this reflected the worth of the woman in society: that man was the one with the life worth insuring.

Today however, the story is not the same; in general, insurance companies no longer discriminate according to sex. Moreover, companies like Our Life Covered cater specifically to women, as they feel that most women don't truly understand the needs and benefits of Term Life Insurance.

In a world that has seen the emergence of 30 female world leaders since the turn of the century, it is surprising that in such an essential matter of life insurance, women are still generally underinsured. The reality of the times is that over 40% of mothers in the US are now the breadwinners of the family, and yet 1 in 3 women are underinsured for life insurance. Studies show that only 52% of women have life insurance at all, while those who are insured have 31% less coverage than men.

Let’s take a look at five demographics of women and how life insurance is a necessity no matter what a woman’s marital or professional status is.

1. The Single Woman

Although life insurance compensates the insured’s survivors, it doesn’t actually reflect the worth of a human life. Women are just as worthwhile and vital as men, and have just as many people dependent upon them. When women don’t take out a life insurance policy because they feel it is unnecessary, they are doing themselves--as well as the course of history--a disservice. While the insurance policy traditionally goes to the spouse and children of the deceased, keep in mind that a person doesn’t have to be married or have children to have people who would benefit from the policy. A single woman may be caring for her aging mother or perhaps adult siblings who are unable to care for themselves. Should she suffer an untimely death, her insurance policy will help ensure that these loved ones are still provided for.

2. Stay-At-Home Mothers

Whether or not a woman works a secular job says nothing about her worth. The amount of work many stay-at-home mothers take on can be equally as strenuous--and essential to the family--as any secular career. Running a household is hardly easy. Imagine the vacuum that would be left by an untimely death. Although money would never replace a mother, the compensation could still help to hire a nanny or cleaning service to help the household move forward.

3. Single Mothers

Single mothers make up 80% of all single-parent homes in the USA. These amazing women work a job, manage their households, and take care of the kids--all without a partner. They’re the only caretaker and breadwinner. In the event that the worst happens, an insurance policy judiciously paid out could take care of funds needed for childcare, college, and all the others events that will occur on the path to adulthood for her children.

4. Working Married Women

These women have to get up early, do preliminary chores and still be early to work. They work long hours to help support the family’s bills. Hopefully, these women have spouses who help, either in the job sector or at home. Although she may be neither the primary caregiver nor breadwinner (but she well might be both, too), if she passes away, she will leave a huge hole in the family, both spiritually and economically. A life insurance policy would at least provide some aid. Even if she’s married but with no children, her spouse and extended family will need to compensate for her loss as best they can.

5. Business Owners

Statistics show that in America, 30% of small business owners are women. These women are pioneers, and their influence and relevance stretches past their families and extends to their staff and businesses. When these women take out a life insurance policy, they’re not just looking out for their immediate families: the payout of insurance can help settle payroll for staff while her estate is being administered.

Insurance can be taken out to handle employee benefits as well as family benefits. This way the death of a business owner can be softened--and it won’t take us back to the sole proprietorship era where the death of the business owner meant the death of the business!

No matter where a woman falls economically or maritally, we live in a society that supports--at least with additional services--that every role is important and has nothing to do with sex. When a woman takes out life insurance, she supports this revelation.

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