One of the main changes in US society as a result of the recession that hit in October 2008 is that women now make up nearly half the workforce. Almost a third of married women are now contributing significantly to the wealth of their household by working outside the home. Countless families are now headed by women. Yet only about 25% of women have thought to take out a life insurance policy to try to protect their family from the financial shock of their untimely death.
Even for those that do have insurance, they are often underinsured, which risks their family being stuck with final expenses and little to live on if her salary was to disappear overnight.
Life insurance is not just for men, and it can also be a valuable planning and investment tool to help you improve your financial future. If you have any dependents, take some time today to look over your existing life insurance to see if you are underinsured, or start looking into the range of life insurance options to see which one makes sense for your family, situation and budget.
FURTHER READING
Buying Life Insurance-A Beginner’s Guide
