• Lloyd Holloway

5 Reasons Women Should Consider Life Insurance

Life insurance is not just a ‘nice-to-have,’ it’s part of a sound, long-term financial plan. It’s a smart money move that could help provide financial resiliency for your loved ones over the long haul. And did you know? Life insurance is often cheaper for women. Here are 5 reasons why you should take a another look at your life insurance.

Primary income earner

Women are often the primary income earners in their household, and the loss of that income could represent a real hardship for their family and loved ones. A term life insurance policy can be an affordable solution to help maintain your family’s quality of life.


From home maintenance and household financial management to meal prep, education, and more, some studies show an equivalent salary for a stay-at-home mom could be almost $180,000. A term life insurance policy can help cover these costs, reducing the financial effects your family could feel.

Life changes

Life is full of twists and turns, from switching jobs or income streams to having children or supporting aging family members. And keeping on top of how these changes impact your insurance needs is an important part of long-term financial planning. When circumstances change, it’s a good idea to pause and ask the question, “does my insurance coverage reflect my new situation?”


Many women work part time and/or freelance, which often doesn’t include benefits. In fact, a LinkedIn survey shows 92% of self employed freelancers don’t have access to any benefits at all. That means that if anything were to happen to them, their loved ones could be on the hook for things like funeral costs, mortgage/rent payments, medical bills and more.

Dealing with debt

Whether it’s a mortgage, car loan, student loan, or credit card debt, loved ones can sometimes find themselves on the hook when a family member passes away. Applying for and purchasing a term life insurance policy is an affordable way to help alleviate some of the potential burden on your loved ones.

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