To make sure your loved ones are able to meet all expenses, pay all bills in the event of your untimely death, a life insurance policy is a must. To explain in simple terms how it works, you simply pay monthly premiums to an insurance company and they offer you a certain amount of coverage. Your family can then live on the amount of coverage you selected in your policy.
If you are single working woman, nobody else will pay your bill or medical expenses if you get ill, so the best option is to search for a simple and affordable insurance plan. It is advisable to plan your future and prepare yourself for all possibilities. The most common policies are the term policies and the whole life policies that are offered by insurance companies. If you do not have any medical problems and expect long term benefits then these are the right choice. If you are a working woman and do not wish to be absent from work, you can choose a policy which does not require any medical examination. There are companies that offer such policies and the applications are processed quickly. Additionally if you have recent medical examination reports which show that you are fit and healthy, then you could get a larger coverage with cheaper premium rates.
Today more women are working and it becomes necessary to have an insurance plan for women. Do you require insurance if you are not working and are a stay-at-home spouse? Those women who are not working are also encouraged to have coverage. Moms who stay at home and take care of children should also be insured and research shows that cost of childcare by moms at home comes to around thirty thousand dollars.
Women rarely think of getting insurance although more women are working outside their homes than before. More households are two income homes and it is necessary that both the spouses are insured. To have your insurance cover expenses, it is advisable to get coverage of at least 7 to 10 times your current income.
As a working woman you could first check with your employer if they offer any form of life insurance. This may be the cheapest option. You also need to make sure the coverage amount is what you need. The other option is to look for an agent who would help you buy the best policy suitable to your needs.