Consider that women outlive men, on average, by five years. That means many women stand to gain, as beneficiaries, from life insurance policies taken out by their husbands or loved ones.
Women are also increasingly primary breadwinners in their households and large contributors to supporting their extended family. Yet, only approximately 47% of women currently have life insurance -- 11% less than males, with their death benefit also well below that of men (by about 22%).
Professor Siwei Gao of Eastern Kentucky University encourages all women to consider life insurance coverage, regardless of whether or not they work for pay. “A full-time mom who takes care of her young children and household still needs life insurance to cover the costs of a nanny, housekeeper and other service providers in the event of an unexpected death.”