Best life insurance for women


Women may have different life insurance considerations, but both sexes have similar views about death. Haven LifeThe inquest found that most men and women both believe their death would have a “substantial impact” on their families. Both men and women also agreed that the loss of a partner who is the primary caregiver or support person would have an equally negative impact on family life.

While men and women seem to agree on the effect of a loss on the family unit, there is certainly a gender gap in life insurance purchases. About 67% of women have life insurance compared to 79% of men. In addition, women’s goals for the ideal amount of life insurance versus the actual amount invested in coverage were about half of the amount for men.

Abby reddy, CMO and co-founder of Quotacy, notes that “57% of our clients are men and 43% are women.” According to Reddy, “Many wives buy life insurance from their husbands and add child riders to cover the children, but don’t buy life insurance for themselves. This
The gender gap in insurance coverage is an issue the industry has grappled with for years. “

Life insurance for women

Based on statistics provided by Haven Life and Quotacy, women are selling short of coverage. Women own an average amount of life insurance of $ 231,342, compared to $ 423,102 for a man.

Concerns about the cost of coverage may be one of the main reasons. Allison Kade, Millennial Money Specialist at Fabric, says, “When looking to purchase life insurance, many women we spoke to are concerned about affordability. For coverage, a large number like $ 500,000 might sound scary, but the lifetime might not cost as much as you think. For example, on the basis of a quote via Fabric for a 30-year-old woman in excellent health in Texas, that would cost only $ 24.78 per month for a policy of $ 500,000 over 20 years. “

It makes sense to use life insurance to give loved ones a financial cushion, especially since many women fulfill both the role of breadwinner and caregiver. But there are other reasons why more women should consider prioritizing life insurance. For example, the right kind of life insurance coverage can level the gender inequality gap during a divorce.

Lauren Blair, lawyer and insurance expert with, has over 25 years of experience in family law. She says, “Given the income disparities that continue to exist between men and women, it is important to ensure that the wife enjoys a fair division of property and assets in the event of a divorce.” A well-structured life insurance policy can be a beneficial and divisible asset.

A term life insurance policy has no cash value. “Term life insurance is generally not a financial asset that needs to be shared between spouses,” Blair said. Therefore, a term life insurance policy is fully assigned to the owner.

A permanent life insurance policy might be a better solution. It creates cash value with every premium payment and is treated as an asset in divorce. Blair explains, “In common law and communal property states, permanent life insurance policies acquired during marriage are generally treated as marital property and would be subject to fair or equal division, according to divorce laws. of State.”

Whether you buy life insurance to support your dependents if you are successful or as a wealth and asset planning tool, life insurance is an important part of a family’s financial plan. wife.

Best Life Insurance Companies For Women

In the United States, all states except Montana allow insurance companies to use gender as the basis for determining the rates for all or some insurance policies. Since women tend to live longer and have less health risk than men, life insurance is generally cheaper for women. Nonetheless, Fabric Insurance’s Kade says: “Statistically, women tend to live longer and the rates are based on actuarial data. That said, there are many other factors that contribute to the final cost of a policy, including lifestyle, health, personal details and more. “

Everyone’s life insurance needs are different depending on their situation, but we did some research to try and find companies that might be a better fit for women who are looking for certain things in a life insurance policy:

Company Best for
Protective life insurance Ideal for pregnant women
State farm Ideal for rapid coverage without medical checks
Careful Ideal for high limits
North-West Mutual Ideal for overall financial planning
Main financial Ideal for diabetics


Protective life insurance might be a good option for pregnant women who want to get coverage. Applying earlier in the pregnancy increases the chances of approval. If you plan to name your baby as a beneficiary, be sure to designate a guardian, as minor beneficiaries cannot receive a death benefit. If there is no designated guardian, the courts will step in to appoint one, which can be a lengthy and costly process.

Expecting mothers should also consider adding a child rider to their policy once the baby is born. Protective Children’s Riders are available for infants as young as 15 days old and provide a death benefit in the event of your child’s death. The rider can be convertible to a permanent policy regardless of your child’s health, which could provide an affordable way to insure your child for life while they are young and premiums are low.

State farm

State Farm provides quick and easy online quotes for life insurance. Women looking for an instant approval life insurance policy that does not require a medical exam should consider visiting the website for get a LifeRate quote.

The process takes less than 10 minutes and guides you with tools and calculators, such as the State Farm Calculate My Life Tool this helps you determine the amount of life insurance you will need.


If you have a high income, calculate the amount of life insurance you might need by multiplying your income by five or ten years. If you end up with a large number, Prudential may be a good choice for you as it allows policyholders to award a benefit of up to $ 10 million. The company also offers three different types of universal life insurance that provide flexible options for building up savings.

You won’t have to worry about whether the funds will be there when your beneficiaries need them – Prudential has won A + (superior) in financial stability from the credit bureau AM Best.

North-West Mutual

Women who view life insurance as an essential part of their estate and financial planning should consider consulting Northwestern Mutual.

Northwestern Mutual’s whole and universal dividend life insurance policies offer great savings options, and because it is a mutual company, policyholders are entitled to dividends. Plus, you’ll have access to a Certified Financial Planner who can help you build a financial plan that evolves as your policy’s cash value increases.

Main financial

About 15 million women in the United States, it is diagnosed with diabetes. A pre-existing medical condition makes it more difficult to purchase life insurance, but Senior Financial is willing to work with women who have the condition.

The principal subscribes people with type 2 diabetes in adulthood. Unlike many insurance companies, a diabetic candidate can still benefit from standard preferential rates or second level premiums.

Types of life insurance for women

Life insurance falls into two broad categories: permanent and term life. While duration is the cheaper option of the two and the easier to obtain, it lacks long-term benefits due to its temporary 10-30 year period. Permanent policies can be more expensive, but offer some features that may be better for women:

  • No expiration: As long as you pay your premiums and keep your policy up to date, your coverage will not lapse. This aspect is beneficial because women generally live longer than men.
  • Has a death benefit and cash value: The death benefit is the amount you leave to your beneficiaries. The amount of the cash value is similar to an investment that you can access and borrow.
  • You have options: The cash value account can earn interest similar to a savings account or can be invested in stocks or an index fund. It all depends on your risk tolerance.

Women looking for a life insurance policy may want to speak with a licensed insurance agent or financial planner to decide which of these types of comprehensive or permanent policies might be right for them:

  • Whole life insurance: The premiums are fixed and the cash value of this type of policy earns interest similar to that of a savings account.
  • Universal life insurance: Premiums are flexible and the cash value earns interest similar to a savings account.
  • Variable universal life insurance (VUL): The premiums are flexible and the cash value can be invested in stocks, bonds or mutual funds.

Everyone’s financial goals are different, and for some women, a term policy with cheaper premiums may be the best option. In addition to speaking with a licensed expert, it’s also a good idea to do a bit of research on life insurance companies and compare quotes to see what’s out there.

Frequently Asked Questions

What is the best life insurance company for women?

There are many life insurance companies to choose from, and everyone’s needs are different. Speak to a licensed insurance agent and shop around to compare rates and policy features to determine what’s best for you.

Can a pregnant woman take out life insurance?

Women can purchase life insurance while pregnant, but there are a few things to consider. It is usually best to apply for a policy early in pregnancy. Most insurers will not charge higher premiums if the changes to your body remain within normal parameters for a pregnant woman and if you do not have any pre-existing conditions or a history of complicated pregnancies. Speak with a licensed insurance agent to learn more about the best way to approach life insurance during pregnancy.

Can I name my unborn child as beneficiary of my life insurance?

Many insurance companies will ask you to wait until your baby is 15 days or older. When naming your child as beneficiary, be sure to appoint a trusted guardian to handle the death benefit until the child is of legal age. If you don’t, the courts will appoint one on your behalf, which could be costly and time consuming.


About Hubert Lee

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