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Why Don't Women Have Life Insurance?
By: Ivon T. Hughes
Traditionally, life insurance companies solicited men as the main breadwinners
in a family to ensure, that they had adequate life insurance coverage.
Now, times have changed, but the statistics on women show that great percentage
of American and Canadian women carry no life insurance. And those that do have a
policy, carry about half as much coverage as men do.
Most modern U.S. and Canadian households are dual-income households. If you are
married, especially if you have children, would your husband be able to afford
the family style of living if you were to pass away? If you are single, who
would assume the burden of paying for your final costs if you were to pass away?
This may fall to your parents, who are also likely to be living on a fixed
income. Many single women, especially those with children, may be on a tight
budget and feel they can't afford life insurance. However, they may be surprised
to know that a 30 year old healthy woman can purchase a $250,000 10-year term
life insurance policy for $12.00 a month. If you are a healthy 50 year old, that
does not mean it is too late to buy affordable life insurance; your cost for the
same policy as above would only be about $37.00 a month. If you have children,
it is especially important to make sure they will be taken care of if anything
were to happen to you.
Studies show that nearly six out of ten women in Canada are living on their own
by the time they are 85. In addition, women generally outlive men by an average
of six years. If you have adequate life insurance coverage, dependents will be
able to continue their lives and standard of living. That way they only have to
deal with the grief of your passing, instead of any financial burdens incurred
by it.
Women need life insurance protection to ensure that whoever survives them will
be provided with available capital. Term life insurance has always been one of
the most cost-effective ways for both men and women to protect their loved ones.
Compare term life insurance rates and policies today and see how affordable
peace of mind can be.
About the Author:
Ivon T. Hughes, The Hughes Trustco Group Ltd. Online Insurance Broker - Get a
FREE Quote TODAY! Tel: (514) 842-9001 Email: info@trustco.ca Web: http://www.hughestrustco.com
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