Why Life Insurance for Women Matters The Most?

International Women’s Day was recently observed on March 8th. Women make up the 51% of the entire United States population and 56% of the US labor force. Despite their significant representation in government, women still face challenges about the wage gap; hence their life insurance is being set aside.

Contrary to popular belief, life insurance doesn’t need to be costly or complex. There are various options available, including term life, whole life, and universal life, each with its own set of advantages and disadvantages. For instance, a healthy 30-year-old woman can secure a $1 million, 30-year term life insurance policy for as little as $40 per month or a $500,000 policy for as low as $25 per month.

Life insurance is essential for working moms, single moms, caregivers, stay-at-home moms, and even grandmothers. It can help cover expenses such as mortgage payments, childcare, college costs, groceries, and utilities. If you’re considering life insurance for yourself, your spouse, or a loved one, now is the perfect time to explore your options.

Term life insurance is the most economical option, with monthly premiums typically ranging from tens of dollars, depending on factors like age, health, and coverage amount. Term policies are valid for specific terms, such as 10, 15, 20, 25, or 30 years. Once the term expires, the death benefit expires as well, unless you choose to convert the term life into whole life insurance.

Whole life insurance, on the other hand, provides coverage for life but comes at a higher cost for a lower death benefit. Moreover, whole-life policies accumulate cash value over time, serving as both an investment and a death benefit. Universal life insurance is akin to whole life but offers the flexibility to invest in indexes or other investment vehicles.

Finding the right life insurance at an affordable price doesn’t have to be challenging. If you’d like to explore your life insurance options, feel free to email us or call 310-909-6135 for personalized assistance. We can conduct a need-based assessment to determine the most suitable level of life insurance coverage for your unique needs. At Solid Health Insurance Services, we aim to help our clients discover the appropriate solutions for their health, life, dental, vision, and long-term insurance needs.