Life Insurance provides protection against all the risks of the life. Just as risks exist in men's lives, women's lives are also prone to risks, sometimes even more than the men. In the conventional manner, women are not considered as the breadwinner of the family, but they also require to be protected against the risks.
But in this modern world, the financial contribution of women to the family cannot be ignored. Besides, they also contribute in the household matters, more than men. So why should they hold back while purchasing the life insurance?
Why should women buy life insurance?Though the value of women was not considered worth insuring, 100 years ago, perspectives have changed now. Now, the women members of the family are contributing equally in their home and sometimes even more. So even if something happens to them like any accident, permanent disability or untimely death, the family will not be hampered financially.
What Type Of Woman Are You?" Working Woman: Most of the families are now functioning with both parents working. Both of the incomes are equally important for the financial security and therefore the life security is required for both of them. This will help you not for worrying about the quality education of your kids, in case of premature disability or death of their parents.
" Single Mothers: When you are playing the role of the single parent, the entire responsibility of your child's wellbeing and support remains with you. The life insurance can definitely provide you with the peace of mind that the financial support for the growth and success of your child will never be hampered if anything happens to you.
" Stay-At-Home Mothers: The household maintenance is definitely a full time job. It is actually many roles clubbed into one. If you hire professionals for maintaining the duties instead of staying at home, the costs can be major. On the other hand, as you are shouldering the entire responsibility, you are not working for increasing the family income. So the life insurance policy can definitely provide the financial support for making the household running and also allow the surviving spouse to keep working.
" Business Owners: Sometimes, the women are running their own businesses and the continuity of the existence of the business will not be hampered if the women have opted for the life insurance. If anything unfortunate happens to you, the life insurance can cover the interim expenses also while it gets sold or transited. It can also play the role of a useful tool while making the arrangements of buying or selling and for covering the potential loss of the members of your company.
What are the types of insurance women can buy?" Child Insurance: If you are a mother, you can think of buying the child insurance, for saving money for the higher education of your child. This specific policy can provide a regular flow of money at particular points of time covering the educational requirements and support for the aspiration of your child.
" Term Insurance: When you are a young woman, the term insurance can provide the coverage at a very reasonable cost. In an unfortunate incident like your death, your immediate family will receive the adequate amount for maintaining the standard of the living , repay the liabilities, if any, and continuing with the important milestones and also getting over with the emotional setback.
" Retirement Insurance: Besides providing the financial support after your death, you can plan pensions or ULIP for continuing the education of your child's higher education. This particular policy can help you in accumulating enough wealth for funding during your retirement years.
Manage your future with Life Insurance : You may be a mother or just started your career as a professional; the life insurance can help you in the following cases.
" Household Requirements: When you are meeting all the needs of your household, you are actually invaluable for the family. Now, the life insurance can help you in paying for the services like the household chores, child care, transportation etc.
" Financial Legacy: Life insurance can play the role of financial legacy for your partner, spouse or your kids and even for your favorite charity home.
" Lump Sum Money To Pay Dues: Though life insurance can never replace you , it can replace your income after your death. It can help in paying off the debts and meet the daily expenses like food, clothing and shelter.
As discussed above, life insurance is important for everyone, irrespective of your gender. It is important for the immediate family members whom you are financially supporting. When you apply for the insurance at a very early age, the premiums are also low. So it is better to be early for gaining a peace of mind for your future.
