Why Should Women Close the Life Insurance Gender Gap?
This is a sponsored post in partnership with The Guardian Life Insurance Company of America.
According to a 2020 study by Life Insurance and Market Research Association1, only 47% of women have life insurance compared to 58% of men. Here are a few reasons why more women should consider purchasing a life insurance policy:
1. Women are earning more than ever before
When 42% of mothers are the sole primary breadwinners for their families1, it’s important to protect your income in case of death or disability. Even the loss of supplemental income can cause immense financial strain on a family.
2. Stay-at-home parents provide immeasurable economic support
When a partner chooses to care for children full-time, their labor has immense economic value to the family. If a stay-at-home parent were to pass away unexpectedly, how would their partner pay for childcare or other services that a single working parent might need to rely upon to help keep the household running?
Many who choose to care for children at home also return to work when their children are older, and since insurance policies are less expensive to purchase when you’re younger, buying a policy now may be the more affordable way to protect your family from the loss of future income.
3. Women tend to live longer
According to the U.S. Census Bureau, women live longer than men. Opting for a permanent life insurance policy like whole life insurance could offer valuable protection for women. Alternatively, term life insurance may offer another affordable solution for a period of 10, 20, or 30 years, with an option to be converted to a whole life policy at a later date, if you desire.
Prepare for the future by starting today. Click here to learn how.
Guardian® is a registered trademark of The Guardian Life Insurance Company of America. © Copyright 2022 The Guardian Life Insurance Company of America. Hey, Milestone is not an affiliate or subsidiary of Guardian.
1 2021 Insurance Barometer Study, LIMRA http://www.lifehappens.org/barometer2021
2022-140140 Exp. 6/24
