Life Insurance News
Women urged to consider life assurance
Families should review their views on life assurance and extend it alongside critical illness cover and income protection insurance to more than the breadwinner alone.
Many families only cover the main breadwinner - traditionally the man - but times have changed and women are now contributing a sizeable amount to finances, according to the Independent.
Alan Lakey, a partner at independent financial advisers Highclere Financial Services, told the newspaper that "there is a definite trend for many families to insure only the man on the basis that he is usually the only or the main earner".
However, he warned that "this is frequently a short-sighted move because the question that has to be asked is, what if?".
According to Rosemary Heaversedge of Shropshire Independent Financial Services, cost should not be an issue when it comes to life assurance for women.
She told told the newspaper: "Life cover for women is so inexpensive that it really is criminal not to have some to provide a lump sum for a bereaved partner or guardians bringing up children."
The newspaper also pointed out that that women statistically live longer than men but are more likely to get seriously ill, which underscores the importance of having cover such as critical illness insurance.
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