Insurance by Law or Purchased in Love

Published On June 11, 2012 » 103 Views» By IWJ » Biz, Planning, Profits
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While some insurance is required by law, other insurance is purchased in love.

IWJ staff

With more women starting businesses than men, it seems some traditions haven’t quite caught up. According to insurance advisor, Bob Arnett, as much as 64 percent of women are under insured or lack life insurance altogether, “Historically, men were known to have coverage, and insurance agents market to men as the breadwinner.” says Arnett. Today, women are trying to earn the bacon and still frying it up in the pan. The void of insurance coverage on women can now impact revenue from outside the home and well being on the inside.

Business women without insurance coverage is a double-edged sword. If a woman dies, there is a loss of the vital family conduit, which is now compounded with the loss of considerable income. Today, it’s no longer a funeral followed by a reception at the house and the doling out of the children by the other women in the family. Today, absence of the woman can be a sea of frustration for her business. There is inventory which may need liquidation, property or lease agreements, business debts, and pending clients that should be notified. So while traditions have evolved for women, their ability to consider their selves remains the same. The trend states women still put their selves at the back of the line when it comes to self care.

Women can now take full advantage of great coverage. “Insurance coverage are at an all time low” says Arnett. A healthy 25 year old woman can see insurance rates as low as 11 dollars per month. These women, even if single business owners with no children, may need burial fees reimbursed to loved ones, someone to close their business, or to provide the funds to legally transfer ownership. Women who are 45 years old and in pretty good health can pay as little as 19 dollars per month, leaving options for family members. In both cases, the policy provides 200,000 dollars in coverage for a 20 year term insurance policy. Women can now make one more affordable step to the insurance company on behalf of their loves for home and business.

Resources

  • Colleen Hicks, MetLife agent, 208-230-1976
  • Bob Arnett, Arnett Life Insurance, 208-570-8390

 

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IWJ

2 Responses to Insurance by Law or Purchased in Love

  1. Happy to see insurance rates for women have decreased!

  2. Thanks for sharing. Glad to hear that rates are down recently!

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