Tag Archive | Women and Life Insurance

Women and the Financial Gender Gap

It is no secret that there is a financial gender gap that has been around for decades. While in some areas that gap is closing, others are not seeing much of a change at all, and it seems that the change it is seeing is going in the wrong way. The financial gender gap will hopefully be gone someday, but until then women need to work at closing it for themselves.

Financial Finesse has put out a survey that shows that women seem to be falling behind men when it comes to financial literacy. It shows that women need to take charge and become financially literate. Financial literacy is not the only place that women seem to be falling behind in.

In most areas of financial planning in general women seem to be falling behind. The gaps are growing in the areas of paying off debt; having basic stock, bond, and mutual fund knowledge, and even in building emergency funds. It is not hopeless for women though, they can still become financially educated.

There is one area where women are not falling behind men in. When it comes to planning for long term care women are keeping up with men. This is the one area that women seem to understand and are not falling behind.

Women want to have peace of mind; they do not want to have to worry about what is going on with their money. If it is in a safe place then they feel better. One reason that the survey shows that women are behind is that they like to gather information from a large variety of sources before they make any decisions whereas a man will make that same decision much faster and with less research.

When it comes to a financial planner women do not want someone who comes across as a bossy know it all. They want someone who is going to be an ally for them in the financial world and who will look out for their best interests. The financial planner must make it comfortable for the women to ask any questions that she has and they cannot be an overly harsh person. Men are less likely to go see a financial advisor and when they do, they do not mind those financial planners that some women seem to have problems with.

Women you need to take responsibility for your own financial education. It does not matter if you get your information from an online source, a financial advisor, or even from a financial class. The important part is that you become educated in some way so that you can make better financial decisions.

There is still a financial gender gap out there. It is up to women to work at closing that gap. We have the ability to make sure that we are in charge of our own finances. So ladies, get out there and get educated, make the financial gender gap disappear for good.

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    Women and Life Insurance

    There are many women out there who do not think that they need life insurance. There are also a lot of women who have never really thought about getting life insurance. Well ladies, it is time to not only think about it, but get some as well.

    The first reason is the most obvious for why every women needs to have life insurance. It helps your family pay for your final expenses when you pass on. Your life insurance will pay those final bills so that your family does not have to worry about how to pay for it. Life insurance will also help take care of your family, such as your children or spouse, when you pass on.

    Women that are single and have no children often think that is reason enough to not have life insurance. That is not a good enough excuse however. You still have family left when you die and they will be left with all of your bills that were not paid off. Your life insurance policy can help pay off those bills for your remaining family members.

    There is more than one type of life insurance policy that you can get. The first one is term life insurance. This policy provides a simple death benefit, but only for a specific period of time. If you die before the term period ends, then your beneficiary gets everything. If you live past the term period then you get nothing back.

    The next type of life insurance is whole life insurance. This is permanent or cash value insurance. What that means is that this life insurance is going to cover you for life. Universal life insurance is a type of cash value coverage. This allows you to choose how your cash value account is to be invested. There is also a variable universal life insurance which combines all the flexibility and options of the universal life insurance policy along with the investment options of a variable policy. The last type of life insurance is joint and survivor life insurance. With this type of life insurance you and your spouse have the option of buying one policy that covers both of your for the rest of your lives.

    Women need life insurance; there is no way around it. All too often those women who do realize that they need it do not get adequate coverage. Take some time to think about what it is you want from your life insurance policy. After you do that you need to take some time talking with different companies and finding out what you will have to pay. You want to get the best deal possible and the only way to achieve that is to do your homework and find out what different companies charge for the types of life insurance you are looking to purchase.

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