The statistics show that the number of women who have active life insurance is dropping. Some analysts have studied this trend and come up with questions such as- why are more women reluctant to take life insurance policies. The answer to this question varies.
Some people think women tend to believe they do not need the insurance protection rather; men should enjoy this coverage because of their position in the society as the providers in families.
However, we have found some reasons to consider and push our opinion that women should not overlook the need for insurance.
In many parts of the world, women are known to live longer than men. This means they can benefit more from life insurance. For example, we know men handle more dangerous jobs in factories and other industries that expose them to accidents. Women in their more subtle jobs are less prone to these issues hence insurance providers will benefit more by giving women insurance due to low risks and fewer claims.
In our society today, the positions are changing. More women have assumed roles as the breadwinner in their families. There are also cases of divorce that can make women responsible for handling financial and other responsibilities in the home. In situations where a family member falls ill, women are mostly relied on to care for the ill person. Generally, dependent members of the family are cared for by the women.
It can also be inferred that women find it easier to find jobs in some industries where female workers are more than male workers. In situations where the men cannot secure jobs due to unavailability or other reasons, the women help by finding those ‘female inclined’ jobs and support their families.
Another reason women should be among the top beneficiaries of life insurance plans is the high tendency of women to become single parents. The number of single women who are taking care of two or more children is rising. These children need a better chance at having a good life. Women on insurance have more leverage to give their children the best even as single parents.
Regardless of the earnings men receive for the support of the home, the role of women as homemakers has also significantly reduced the expenses in the home. For example, a single father will have to pay much more money to hire temporary staff that can care for the children and maintains the home while he is away at work. The presence of a woman in the family removes the need for this expense.
The role of women should be significantly regarded because of the support they render to make their men and children have good lives. Considering the additional benefits women provide, it is very necessary they are given equal chances of enjoying life insurance benefits just like the men.
Finding the best insurance plan is another issue that discourages women from confidently seeking insurance. There are so many options. However, most comprehensive insurance plans that cover a wide scope should be considered. Top on the list is the plan that has features which cater to long-term educational plans of the children, securing a mortgage and buying a home, as well as health insurance for life.
It may also be a great idea to seek term insurance cover rather than the whole life insurance plans. The term insurance cover is more affordable when the two options are compared. Women can take term insurance to cover thirty years after considering their age. The claim at the end of this plan will be sufficient to handle the family’s needs at the end of the insurance plan.
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