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Why women need life insurance now

With greater economic power, comes greater responsibility

Strong, smart, empowered, and independent - women like you are a force everywhere, from the boardroom to the classroom and beyond. Just consider these facts.

  • Women make up 51% of the population and represent the majority of college graduates.
  • More than half of the entire labor force is comprised of women.
  • Nearly 4 in 10 mothers (39.3%) are primary breadwinners for their family.
  • Nearly two-thirds (62.8%) of women are breadwinners or co-breadwinners, bringing home at least a quarter of the family’s earnings.

With all this economic power, however, comes greater responsibility, for your finances, and for the next generation. So what’s next?

Take Control of Your Future with Life Insurance
Whether you’re a parent or a professional, just starting your career, in transition, or nearing retirement, you need to ensure your future – and that of the people you love – is bright and secure. Life insurance can help you do that - consider some of the benefits.

Life insurance can:

  • Provide a lump sum of money to help pay expenses and generate an income: Life insurance can’t replace you, but it can replace some or all of your income if you die. It can cover the cost of final expenses and help pay off debts, as well as day-to-day expenses, like food, clothing, and housing.

    For the longer term, life insurance can help pay for your kids’ college education or help ensure your spouse or partner’s retirement dreams are realized.
  • Help with household needs: If you’re a parent, think of all the work you do on a daily basis. The endless scope of activities - combined for many with a busy career - can be stressful, and leave little time for ourselves. You are – after all - the CEO of your family: determining how finances are utilized, being a classroom parent, finding day care, or helping on that science project.

    However many hats you wear, the work you do is you invaluable to your family. Life insurance can help pay for the vital household services that you “provide,” such as childcare, transportation and household chores.
  • Provide benefits you can use during your lifetime: If you choose whole life insurance, the cash value in your policy - the “living benefits” - can be borrowed against to help pay for life’s events such as buying a home, paying for a wedding, or getting that Master’s Degree you’ve been wanting to earn.

    As you pay the premiums of your whole life policy, the cash value builds and you can access those funds via policy loans. Some important things to keep in mind: loans accrue interest and decrease the death benefit and cash value.
  • Leave a lasting legacy: Life insurance can create a financial legacy – for your kids, your spouse, your partner – even your favorite charity or alma mater.
  • Play an important role in your retirement plan: Whether you’re single, an “empty nester,” or have people who depend on you, life insurance can play an important role in your retirement plan. How? Consider your financial obligations such as a home mortgage, outstanding debts or medical expenses. The proceeds from your life insurance policy can help ensure these are settled and preserve the retirement plan you worked hard to put in place.

Additionally, the proceeds from your life insurance can help alleviate any outstanding estate tax bills and ensure your estate will be passed on, intact, to your survivors. More important, if you died today, you want to ensure that your spouse, kids, partner, parents – whoever depends on you – are well taken care of.

We can help. Find out more by contacting an agent. He or she will listen to your needs, and help you determine the best options for you.

2010 Data from the The Shriver Report, Center for American Progress: