The roles of women are changing, and so are the ways in which they define themselves at home and in the workplace. They have more options than ever open to them, from being stay-at-home moms to full-time employees and every option in between.
Because women’s roles are changing, so are their needs. They are becoming financially independent and top breadwinners. Women are making their mark on the world. To ensure they are protected from the unexpected things that can happen in life, it’s important for women to have proper insurance coverage. Below are a few reasons you need to talk to your insurance agent today.
1. You should always expect the unexpected — and prepare for it. Life is full of unpredictable moments. From accidents to illness, there’s no way we can know when something bad is going to happen. And, as women, there’s also the chance of getting pregnant —whether planned or unplanned — and short-term disability could be a huge benefit when you’re out of work.
Depending on your company’s rules, you might have to have short-term disability in place for a certain amount of time before you can draw on its benefits — assuming your company even offers short-term disability. If not, it’s a good idea to get a supplemental plan so you still have some income if you have to be out of work. Having short-term disability in place can help you get through the tough times if and when they occur.
2. Your company many not cover everything you need. Insurance is an expensive commodity, and not all businesses can cover their employees under health insurance plans. In a report from 2016, businesses are paying less and less for their employees’ insurance because it costs a lot of money — and that hurts their profitability. There are some things employers have to cover, such as workers’ compensation in most situations but not all, and that will only cover you if you are hurt on the job.
Some businesses are putting the onus on employees to cover more of their own benefits, so if that’s the case, you might as well get a comprehensive plan that fits within your budget and covers everything you need it to cover. You might find that at your work, or you might find it with an independent insurance agent. You have to decide what works best for you.
When deciding what types of insurance will be the most beneficial to you — and perhaps your family — you’ll want to look into life and/or disability insurance. Either or both of these will cover you if you should get injured or killed. Some things to keep in mind when purchasing life and/or disability insurance are:
- How much can you afford?
- How much will you or your family need to live comfortably and pay the bills?
- How much will the insurance company actually underwrite for you?
3. You need to protect your interest. Whether it’s health insurance, life insurance, car insurance or homeowners’ insurance, you can rest easy knowing that your interests are protected. Should the unthinkable happen, the insurance will be there to help cover costs to replace items that have been lost or damaged or, should you get sick, to cover the medical expenses you’ll need to get healthy. Without coverage, should the unexpected happen, you’re responsible for covering all costs, which could get incredibly expensive and lead to debt.
4. You’re less expensive to insure! Women pay less in life insurance premiums than men because their life expectancy is longer. This means insurance companies will more than likely not have to pay out premiums before the policies lapse. Since you’re probably going to be living longer, you want to make sure you are covered for everything that could possibly happen, and talking to your insurance agent will help you get the policies that will give you the most benefit.
5. You’re killing it at business. More and more, people are working from home or have side businesses out of their homes. According to statistics from Global Workplace Analytics, the number of people who work from home has risen 115 percent since 2005. It’s possible the company you work for will allow you to telecommute, but it’s also possible you have a freelance position or your own business from home, which means you more than likely don’t have company-provided insurance.
Working from home as a freelancer or as the CEO of your own business allows you the freedom to set your own hours and rate. You have the flexibility to run your life the way you want without being chained to corporate hours and rules. However, you still need to protect your interests — including your health and your possessions — by getting insured.