5 Reasons Why a Woman Should Buy a Life Insurance

Nov 11, 2017 | 1 year ago | Read Time: 3 minutes | By iKnowledge Team

A woman is the pillar of her family. And therefore, securing her life is important. Availing a life insurance policy is a great way of doing so. This is an essential tool all women should consider while planning her finances.

5 Reasons Why a Woman Should Buy a Life Insurance - Aegon Life

Here are some reasons why every woman must have a life insurance policy.

  1. A woman contributes to the family’s income

Times are changing and so are the roles of women. Unlike old days, where women were confined to their homes, today, more and more women have jobs. Therefore, they play a major role in contributing to their family’s income. Under such circumstances, in case of her untimely demise, her family’s finances and standard of living would certainly be affected. Thus, to be prepared for such an unforeseen event, it is essential that women protect their families financially by getting life insurance plans.

  1. Single women have several expenses

Many times, single women do not get themselves insured since they have no dependants to provide for. But, what they don’t realise is that in the unfortunate event of them passing away, the burden of car loans, education loans, and even home loans are something that their families would have to look after. At an age where their parents need to be saving for their retirement, they will be paying off their daughters outstanding loans. Therefore, even if you are single, getting yourself insured is the best thing to do. A term plan is a great option for a single woman. This is because, for a lower premium, she gets the same term insurance benefits.

  1. Homemakers make a huge difference

If a woman is a homemaker, her absence will also make a huge difference to the finances of her family. Firstly, apart from creating an emotional void it will become the responsibility of the father to look after the children. And with a job and the responsibility of providing for his family, a man may not always be able to fulfil that role efficiently. This will mean hiring the services of a nanny, especially if the children are still in school. These service charges and other expenses may tend to be quite exorbitant. It is thus essential to plan for these additional expenses in advance. A life insurance policy ensures that all these costs are taken care of in the absence of the woman of the house.

  1. To enjoy her golden years

If a woman is blessed to live her retirement years, the sum assured from her policy can be used towards fulfilling all the plans she had for her while managing work and life. From taking an art class and lessons in music, baking to learning a new language, or even travelling the world, she can do whatever her heart’s wishes. However, for this, she needs to invest in a whole life insurance plan, which will ensure she reaps the benefits of the financial backup she has created for herself in her golden years.

  1. To support her family even when she is not around

It is every woman’s heartfelt desire that her children have the best education and pursue all their dreams. Unfortunately, if she passes away before all of this, she may not be there to witness these milestones in her children’s lives. But, the financial backing she leaves behind will ensure that those huge expenses are well met. This is where a life insurance policy comes into play. In fact, it will be ideal to get insured as a young mother, since this will ensure a higher amount of sum assured at lower premiums—one of the best advantages of a term insurance policy.

A woman’s life makes a difference to so many people around her. Therefore, investing in a life insurance policy and creating a secured future for herself and her loved ones will only be a harbinger of happiness.


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