Traditionally, life assurance companies solicited men as the main breadwinners in a family to ensure, that they had adequate life assurance coverage.
Now, times have changed, but the statistics on women show that great percentage of American and Canadian women carry no life assurance. And those that do have a policy, carry about half as much coverage as men do.
Most modern U.S. and Canadian households are dual-income households. If you are married, especially if you have children, would your husband be able to afford the family style of living if you were to pass away? If you are single, who would assume the burden of paying for your final costs if you were to pass away? This may fall to your parents, who are also likely to be living on a fixed income. Many single women, especially those with children, may be on a tight budget and feel they can't afford life assurance. However, they may be surprised to know that a 30 year old healthy woman can purchase a $250,000 10-year term life assurance policy for $12.00 a month. If you are a healthy 50 year old, that does not mean it is too late to buy affordable life assurance; your cost for the same policy as above would only be about $37.00 a month. If you have children, it is especially important to make sure they will be taken care of if anything were to happen to you.
Studies show that nearly six out of ten women in Canada are living on their own by the time they are 85. In addition, women generally outlive men by an average of six years. If you have adequate life assurance coverage, dependents will be able to continue their lives and standard of living. That way they only have to deal with the grief of your passing, instead of any financial burdens incurred by it.
Women need life assurance protection to ensure that whoever survives them will be provided with available capital. Term life assurance has always been one of the most cost-effective ways for both men and women to protect their loved ones. Compare term life assurance rates and policies today and see how affordable peace of mind can be.
About the Author
Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online assurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca Web: http://www.hughestrustco.com