Both men and women need life insurance.
Traditionally, many more men have gotten policies than women. That said, now that more women are breadwinners and most families in general need both parents to work just to get by, it is more important than ever that women get life insurance policies.
Even those who do work primarily as homemakers should look into getting a policy to ensure the future of their loved ones.
In fact, here are 4 things you should know about life insurance:
- The primary breadwinner isn’t the only one who needs life insurance
- ‘Stay-at-Home’ can translate to financial value
- An inexpensive term life insurance policy may cover it
- It is generally less costly for women to get life insurance
Imagine this situation (and hopefully it will only be an imaginary scenario):
- Husband (39), wife (35), three children under the age of ten
- Wife unexpectedly passes away and dad now has additional responsibilities and childcare expenses
Are you prepared to be the sole breadwinner AND in charge of child care, household duties, etc?
$100,000 of a 20-year term life insurance policy is only about $8.95 a month.