Real Life Insurance Experts

This is the 5th in a series of posts about money that have been inspired by Genworth Financial. In previous posts I shared a bit about life insurance, how to budget for it, and why it’s so important to us as a family – in this one I’ll explore why women need life insurance.

Real Life Insurance ExpertsEven though my husband has always been the higher wage earner in our family, we’ve always known that my salary would need to be covered should I die before him. It was more important when our kids were young – the thought of leaving my husband behind, without his partner, to cover not only my actual salary but also the tasks that I did that would have to be hired out, was too much to bear. So I’ve always carried life insurance both through my employer and a private policy through an insurance company.

Why Women Need Life Insurance

It turns out my intuition to provide coverage for myself was correct. In this Yahoo Shine Work and Money “Why Women Need Life Insurance” video, personal finance expert and Certified Financial Planner Lauren Lyons Cole shares some amazing  facts about women and life insurance and why they should have it. She notes that women comprise 49% of the workforce and of those, 43% carry absolutely no life insurance.  That’s shocking to me! She makes a pretty convincing case why women, single and married, should have life insurance to protect  their families financially.

Life insurance is affordable. Find out how much life insurance you need, what type is best for your situation, and how to budget for it.  It’s your chance to take care of your family after you’re gone.

Resources:

Ready to learn more? Visit the Genworth website or read more here:

Where are you with life insurance? Will your family be covered if you die?



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1 comment

  1. Life insurance is indeed affordable. Even if a woman has no income but is a home maker, she still contributes to the household financially. If a husband was to lose his wife, he would still require someone at home to do what the wife had done: raising kids, for example, is not cheap to replace. Having to hire a full-time nanny or even have the kids in day care would be additional costs alone. Every person holds some sort of value in the home. Life insurance is simply a tool to replace the value, even if it’s not income. Life insurance can be purchased for so little, it’s silly not to have at least a small term life insurance policy.