5 Reasons why every woman needs life insurance
Life insurance is a must for everyone especially if the family depends on your income. These days, more women are becoming breadwinners for the family. A wisely selected life insurance can go a long way in providing your family financial support in case of your untimely demise. In this article, we will discuss top 5 reasons why every woman needs life insurance.
1. You cannot predict the future
The life we live is completely unpredictable. One day you are living a calm and healthy life with your family and the next day your whole family is mourning on your death. This is what life is about. Most of us do not think of the worst cases that future can hold as they give us the negative thoughts which are not considered good for health. But in reality, preparing for the worst can save your family from unwanted financial crunch.
2. Financial protection of the dependants
Nowadays, a lot of families run on the income of the women in the family. In many cases where both partners are earning, the woman is the sole breadwinner. Even if your contribution is almost negligible in the family’s finances, there is no harm in getting a good life insurance on your name. In case of unforeseen circumstances, your family may face severe financial troubles especially if the dependents are living solely on your income. By opting for a life insurance you can safeguard their future.
3. Retirement planning
There are life insurance policies which not only provide you cover in case of permanent disability and death but also provide you regular income after retirement. Options like ULIPs and SIPs can help you in planning your future without putting your income at any risk.
4. Income replacement
In case of untimely demise of a spouse, the whole family goes into trauma which results in both emotional and financial loss. With an insurance policy, you can at least reduce the burden on one end and help the family in getting back on track in a much easier way. Even for the stay-at-home moms, in case of permanent disability of death, the burden of earning money and running home comes on the husband which creates a lot of financial troubles. An insurance policy can help the husband to run the life smoothly and take care of the family in a much better way.
5. It is cheaper
A lot of insurance companies design special life insurance policies for women which are cheaper in comparison to men. Women are often considered healthier than men thus the premium on the insurance policy is comparatively less.
Though there are many benefits associated with the life insurance policy for women, unfortunately, a very low number of women both working and stay-at-home, do not have a life insurance on their name. Whether your family is financially dependent on you or not, the life insurance policy can go a long way in making their life easier after you leave the world. Life is unpredictable so making the right decisions at the right time is very important for better future.
