Life Insurance for Single Women

Life insurance is not just for men anymore. There was a time when all the information that was published about life insurance was skewed towards men—part of an exclusive men’s club because quite frankly, they were the most frequent buyers of insurance. Now times have changed. Life insurance is no longer a male-dominated financial planning tool. The same reasons why men bought life insurance protection on themselves is now applicable to women. Research Company, Eurostat, claims women now make up more than 50% of the U.S. workforce; women’s earnings are a significant part of the American household income.

So, like their male counterparts, women now need life insurance coverage to replace lost income, pay a home mortgage, provide money for death expenses, and provide for the long-term security of the family. Bottom line is that life insurance translates into protection for an uncertain future and statistics show that too few women have life insurance protection and those who do have it don’t have enough coverage.

Current U.S Census Bureau statistics show that more than a quarter of all businesses in this country are owned by women, giving them more financial independence, and perhaps supporting the reasons why more women than ever before are buying life insurance but still, most are underinsured.

So, let’s break down the deciding factors for how much life insurance a woman needs. The critical factors include age, salary, and family status. Are you married, single, and are you a mother?

Do Single Woman Need Life Insurance?

It is less likely that any single person, male or female will buy life insurance, believing that without dependents, they just don’t need it and single women lead the category of not owning life insurance.

The fact is that life insurance for single women may help cover loans, debts, and any financial responsibilities that may become a burden on other family members. And life insurance is usually cheaper for women than it is for men because statistics show they have a longer life expectancy. The younger and healthier a woman is, the cheaper the premiums will be for a term life policy, which lasts from 5 to 30 years.

Obviously, single parents—mothers or fathers— have a compelling reason to carry life insurance, providing security for children in the absence of either parent.

LifeQuote offers several features to help make the process of finding the right life insurance policy as simple and painless as possible. Our easy-to-use calculator helps you to better identify your insurance needs. We have a user-friendly tool to help you every step of the way.

To compare quotes, simply click get a quote and you will be taken to a page that asks you to answer a few, easy questions to complete a form and receive your FREE quote. If you’re unsure of how much coverage you need, or how long the term should be, send us an email or call our licensed agents at (800) 521-7873.