Less than one-third of U.S. women have life insurance coverage, yet they comprise over 45% of the workforce in America, according to a press release from Insurance.com. Of the women who do have life insurance coverage, two-thirds feel that their insurance coverage is adequate. The result: only 10% of working women have adequate life insurance coverage. These are staggering numbers in respect to the financial role women place in today’s households.
“It doesn’t matter who you are, or your gender. If you have a home, kids or a spouse who depends on you financially, you should have term life insurance,” says Rob Klapper, insurance.com CEO.
Below are some questions Insurance.com suggests you ask yourself when considering your life insurance needs.
Do You Need Term Life Insurance?
- YES: If your family relies on your income – in full or in part. Should the unexpected happen, ensure that your family’s lifestyle isn’t strained or compromised by the loss of that income.
- YES: If you are a stay-at-home parent. It may sound counterintuitive, but you contribute financially to the family. Childcare for a single, working parent could bust the budget for a surviving spouse.
- YES: If you own a home. No spouse, no kids? You may still want to think about term life. Should something happen, the policy would help pay your mortgage and other debts, leaving your family free to concentrate on more important things.
If you are considering purchasing life insurance, you can shop and compare real term life insurance rates online: www.wholesaleinsurance.net.
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