Experts Say Life Insurance is Important for Women
Source: TheLedger.com
Whether a mother works outside the home or dedicates her life as a homemaker, women are less likely than men to have life insurance, and if they die, their families could be thrown into financial chaos.
“Underinsuring the female, whether she is a working or stay-at-home mom, makes no more sense than underinsuring the male. There are just too many uninsured couples putting their families at risk,” said Beth Wood, assistant vice president of business and women’s markets at Massachusetts Mutual Life Insurance Co.
But many families, especially in today’s economy, don’t think they can afford even the basics.
“When I was married, we never had life insurance,” said Ruby Campbell, a Nampa, Idaho, mother of a 15- and 12-year-old. “When you marry young, you feel like you don’t need it. We thought, ‘That’s for old people, when you’re getting ready to die.’
“We thought about it a few times, making a will and all that. But when you’re young and have kids, everything else takes precedence – you need diapers, you need milk,” Campbell said. “My husband didn’t think there was a need for it. He thought you pay way too much for insurance and you never use it. He thought it was a waste.” Read entire article.
Whether you are a working mom, or a stay-at-home mom, your family would miss everything you do for them – that’s one big reason life insurance is important for the woman of the family.
Here’s how you can shop and compare low cost family life insurance plans to protect your loved ones.
And remember, life insurance rates are usually lower for women than the are for men, so locking-in a low rate for a 20 or 30 year level term life insurance policy while you are young and healthy may be affordable, and fit your budget.
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