Why
Don't Women Have Life Insurance?
Author:
Ivon T. Hughes
Traditionally,
life insurance companies solicited men as the main breadwinners in a family
to ensure, that they had adequate life insurance coverage.
Now,
times have changed, but the statistics on women show that great percentage
of American and Canadian women carry no life insurance. And those that do
have a policy, carry about half as much coverage as men do.
Most
modern U.S. and Canadian households are dual-income households. If you are
married, especially if you have children, would your husband be able to
afford the family style of living if you were to pass away? If you are single,
who would assume the burden of paying for your final costs if you were to
pass away? This may fall to your parents, who are also likely to be living
on a fixed income. Many single women, especially those with children, may
be on a tight budget and feel they can't afford life insurance. However,
they may be surprised to know that a 30 year old healthy woman can purchase
a $250,000 10-year term life insurance policy for $12.00 a month. If you
are a healthy 50 year old, that does not mean it is too late to buy affordable
life insurance; your cost for the same policy as above would only be about
$37.00 a month. If you have children, it is especially important to make
sure they will be taken care of if anything were to happen to you.
Studies show that nearly six out of ten women in Canada are living on their
own by the time they are 85. In addition, women generally outlive men by
an average of six years. If you have adequate life insurance coverage, dependents
will be able to continue their lives and standard of living. That way they
only have to deal with the grief of your passing, instead of any financial
burdens incurred by it.
Women
need life insurance protection to ensure that whoever survives them will
be provided with available capital. Term life insurance has always been
one of the most cost-effective ways for both men and women to protect their
loved ones. Compare term life insurance rates and policies today and see
how affordable peace of mind can be.
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Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: [email protected]
Web: http://www.trustco.ca
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