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William Schantz Explains Why Women Need Life Insurance More than Men

Although women have made excellent strides towards equality in the business world, many women still face unequal treatment in terms of compensation and benefits packages, especially when it comes to matters of life insurance.

While men do account for the majority of life insurance policies sold in the U.S., there are plenty of situations where women also need life insurance. From family leave to childcare, or even just helping take care of the household finances, women have just as many reasons to get life insurance as men do, sometimes more!

Check out William Schantz’s list of four reasons women need life insurance more than men below!

William Schantz’s Reasons Of Why Women Need Life Insurance More than Men

1. Longer Lives

William Schantz suggests one reason why women need life insurance more than men is that, on average, women live longer than men. This isn’t because women are healthier (indeed, many studies suggest otherwise). However, as per William Schantz, with longer lifespans comes a greater need for life insurance. Even if you don’t have dependents, you may want some assurance that your partner or family can continue to pay their bills if you suddenly pass away.

2. Riskier Jobs

While women hold more than half of managerial and professional positions, they still comprise only 27% of Congress, are a small minority in many fields like law and medicine, and make up less than 5% of Fortune 500 CEOs. While some of that discrepancy is attributable to women’s choices—the female share of STEM jobs has been shrinking since 1990—much of it is attributable to old-fashioned discrimination.

According to William Schantz, as women continue to gain economic equality with men, their financial security increasingly depends on factors beyond their control. And as a new generation of single mothers comes into play, it’s important for young women to consider life insurance policies as soon as possible.

3. Women are Caregivers

Unlike men, women are more likely to be financially responsible for children or elderly parents; they tend to live longer than men and earn less on average than their male counterparts, leaving them even more financially vulnerable.

In fact, in 2013 alone, women represented 60 percent of all personal bankruptcies. Without life insurance to help offset these financial burdens, a woman’s family might struggle with bills after she dies. By taking out a life insurance policy before age 45, women can ensure that their families will still have financial resources available to cover any expenses if something happens.

4. High Percentage of Children Being Raised by Single Mothers Today

With a long life expectancy and increasing health costs, being a single mother can put the financial security of a woman and her family at risk. If you’re raising kids alone, your dream of a secure retirement might not be within reach. Life insurance could help protect you against one of life’s greatest financial risks—and allow you to provide for those who depend on you most if something were to happen to you.

William Schantz Recommends Women To Secure Their Future:

As per William Schantz, life insurance isn’t an option for women—it’s a necessity. If you’re female and want to ensure your loved ones are provided for in case something happens to you, don’t procrastinate. Take steps today to ensure your family is protected. There’s no time like now!

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