The belief that women don’t contribute as much financial stability to a household is so 1950s. According to the Department of Labor, over the last five decades, women have consistently increased their role in the workplace.
A woman’s worth in a household is clear. Yet, despite these trends, it is common for a husband and wife to believe life insurance for the husband is absolutely necessary, but life insurance for the wife is not. I often find myself explaining to my clients the importance of making sure both spouses have adequate life insurance coverage, and moreover, why women need just as much if not more life insurance coverage.
3 Reasons Women Need Life Insurance Coverage
Your Financial Contribution to the Household is Valuable and Would be Missed if It Disappeared

Regardless of whether a women works full-time or part-time, is a solopreneur or mompreneur, her financial contribution to the household is valuable. If it were to suddenly disappear, her family would definitely notice it – not to mention the fact that suddenly your spouse is seriously ill or no longer with you. Having adequate life insurance coverage that meets or exceeds the income a woman brings into the household allows her partner and family to adjust their lives to the emotional change or loss, without at the same time, having to figure out where the additional money will now come from to pay for household expenses, childcare, etc.
Even if You’re a Stay-at-Home Mom, you Provide Financial Value to Your Household
The debate as to whether or not a mom’s work is of monetary value to society and should be compensated is ongoing (you can weigh in here), but the math of the matter is that if you took all the tasks a SAHM does on a daily basis, determined how much you would pay for someone else to do these things, there is clearly a financial value to the work of mothers. Here's a great tool to figure out just how much that value is worth (and a cute lil gift for Mother’s Day too!).
Women, You’re Going to Live a Long Time

Of course, fellas, what you provide to the household is also extremely important. And us gals need your love, emotional support, AND financial support as well to provide for our lives and household. But, the world over, women live longer, and the fact is that without adequate insurance coverage for women, you could leave your wife in her elderly years without the means to maintain the lifestyle she has become accustomed.

There are plenty of insurance strategies, different types with their own respective pros and cons. It is important to have a professional help with building this part of your financial strategy, so that you know what type of coverage is most appropriate for you and your family. Part of that is making sure that all members of the household have adequate coverage so that regardless of what life deals out, each member has peace of mind knowing that they will be able to take care of themselves financially and emotionally when life goes either as planned or unplanned.


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