There is a common misconception among married couples that the female half of the equation doesn't
need a life insurance policy
. Considering their significant contribution to the financial stability of the home and family, nothing could be further from the truth. Whether or not they are working outside the home, are a stay-at-home parent, or are nearing retirement age, there is a strong argument for purchasing protection and peace of mind with a life insurance policy.
Two-Incomes or Stay-at-Home Mom
According to recent figures from the
Department of Labor
, 57 percent of women in the U.S. participate in the labor force. Also, 70 percent of women with minor children are working outside the home. Yet, these contributions to the family welfare aren't being adequately insured against a tragic loss. The
Insurance Information Institute
reports that 43 percent of adult women have no life insurance at all and those that do are carrying 31 percent less coverage than their male counterparts. If your family loses that income, it's important that there be a source of financial security in place.