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4 Reasons Why Women Need Term Life Insurance

49% of women are now in the workforce. Yet, 43% of these working women have no life insurance. This means that a very large percentage of families are dependent on the female income, yet that income isn’t insured. A good portion of married couples are dual-income providers and both incomes should be properly insured for worst-case scenarios. It is even more essential for single moms to have solid coverage to protect their family. Stay-at-home moms are not left out of this, as they provide high value in the service and care they perform for their family. Women need to be insured plain and simple.

1. Dual Income Dependence. According to the Population Reference Bureau, in 2002 only 7% of American households consisted of married couples with children in which only the husband worked. That number has declined even further in the financial turmoil of recent years. Families are dependent on both parents’ incomes and, in turn, both those incomes should be adequately insured to provide family security.

Source: Population Reference Bureau

2. Single Moms. The US Census Bureau found that 79% of custodial single mothers are gainfully employed. 50% work full time. Despite other sources of income, such as alimony or child support, the income of a single mom is critical to the family she supports. Many single moms are raising their children with little or no help from the outside. What would happen if she was no longer able to provide?

3. Stay-at-Home Moms. For the family that has Mom at home, sacrifices are usually made to make that happen. The service and care she provides adds up quickly in value when tallied. That value balances out the income not gained by her not being in the work force. This means stay-at-home moms have tremendous importance in value that requires being insured. If something were to happen, her spouse would be required to add the cost of those services to his solo family income. That’s a recipe for disaster.

4. Women Have Arrived. Just think, roughly 100 years ago women weren’t even allowed to purchase insurance. The value of what women did wasn’t considered worth insuring. Obviously our nation has changed dramatically, and that’s a ridiculous thing to consider now. All women provide financial value to their family, and insurance provides the safety net if she can no longer provide for whatever reason.

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