6 Reasons Why Working Women Need Life Insurance!

Working Women

A few years ago women were expected to be stay-at-home wives, subservient to their male counterparts and it wasn’t considered ‘lady-like’ for a woman to want anything more than just that! Thankfully the economy is developing not just technologically but, with the mindset of the people. Sadly, one thing is yet to change, women realizing the importance of life insurance!

Women may be on the same terms of men where professions are concerned but, are we on the same line where our insurance is concerned? We cannot blame insurance companies for this lack of interest as many insurance companies are now forming life insurance policies and health insurance policies specially designed for women.

Why Working Women Need Life Insurance

1. Not Only For The ‘Head’ Of The House

life insurance
Image: Naturally Healthy Parenting

Yes, we all know and understand that life insurance is available for us, but, why bother to opt for it? Only the head of the house needs it, right?

This is the common misconception that only one person in the house need opt for it. Think of it this way, ‘the more, the merrier!’ Even if it is but a low-cost insurance premium, it will still be worth something at the end of the day.

Also Read: 5 REASONS WHY MEDICAL INSURANCE FOR WOMEN IS HIGHLY IMPORTANT

2.  Secure Your Family

life insurance
Image: Claudia Listens

You might be married, a widower with kids or divorced with kids. Either way, opting for the best life insurance plan will help financially secure your family in the time of an accident, permanent disability or even death. While your savings might be worth something, it may not be even half as worth as what a good insurance company can provide you.

3. Single Working Woman

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Image: Prima

Even if you are unmarried and without children, you may have people depending on you – either aged parents staying with you, or younger siblings who are dependent on you. Opting for a good life insurance policy will ensure that you not only leave them financially secured but, have a secured future for yourself should you live past your premium!

Also Read: THE DIFFERENCE BETWEEN LIFE AND HEALTH INSURANCE!

4. Single Mothers

life insurance
Image: iHarare

It is MOST important for single mothers to have a life insurance policy as your child is completely dependant on you. A single mother must remember that she is playing not only the role of a mother but, a father too and so, a number of responsibilities placed on her shoulders will be double the weight.

This means that she will be prone to double the amount of stress and two times the amount of hard work. Too much stress and work is often the cause behind various critical illnesses and in some cases even death. So, it is imperative that you not only have life insurance in the case of your demise but, also a good health insurance plan to support you at the time of any illness.

5. Job Loss Insurance

life insurance
Image: PBS

It is slowly dawning on the people that a working woman ought to be respected, especially if she is the sole one supporting her family. This is one such value that ought to be safeguarded at whatever cost!

In the case of a sole earning woman losing her job, the life insurance will step in and offer some amount of coverage (income protection insurance) to help sustain the family till she finds means of earning once again.

Also Read: 7 WAYS TO SPOT A FAKE HEALTH INSURANCE POLICY!

6. Cheaper Premiums

life insurance
Image: The Female Network

Since it has been scientifically proven that women live a minimum of 5 years past men, the premium for a woman who is opting for life insurance will be cheaper than if a man was opting for one.

Another factor that contributes to a cheaper premium is age. The younger you are, the cheaper your premium. This is because when you are young you are less likely to adapt any type of critical illness as you are still young. But, as you age, you become more prone to various illnesses like BP issues, heart issues, etc.

Also Read: 7 MISINTERPRETATIONS ABOUT HEALTH INSURANCE POLICY GUIDELINES!

Life insurance for working women is not just something that you should think and re-think about, it is like auto insurance where you opt for the best auto insurance or the most affordable auto insurance, no matter the cost. It is highly advised to opt for a plan as soon as you start earning. Do not allow yourself to be led astray by false misconceptions!