There was a time when this question had credibility. Today, the statement is not just a fact, but it’s logical too. Women these days manage to find the perfect balance between personal and professional life. Today, they no longer have to depend on anyone at any stage of their lives. Life insurance is a crucial step towards financial stability for everyone, including women. You need to take steps today for a secured tomorrow. As a woman, here are few reasons why you need life insurance:
Income replacement for your family
In an economy where prices are on a steady rise, the cost of living has increased greatly. Basic needs like food, shelter and clothing are so expensive that most families go nuclear with both members working in order to have enough money for their family. A life insurance plan will ensure that in your absence your family members i.e. your aging parents, children and spouse won’t have to compromise on their lifestyle and future aspirations. Life insurance provides your family with enough money in your absence to take care of needs like paying bills, EMIs and household expenses. Life insurance ensures that your family is looked after even in your absence.
The money that your family will get in your absence will serve as your legacy. It will give them enough money to take care of essentials, indulge in occasional leisure activities and even pursue any dream that they have.
Security against loans:
Planning to achieve your dream house, car or a vacation will require some funding for which you will opt for bank loans. This may be solely or partially a liability for you. Presently, you may be sharing the load of these EMIs with your spouse, however in your absence this huge amount will be a complete liability to your better half. Opting for a life insurance plan will ensure that in your absence all your financial liabilities are taken care of thereby providing financial stability to your dependents.