Why do Women Need Life Cover?

Life Cover - Woman -dsize

Taking out life assurance could be one of the best financial decisions you might make in your lifetime. If you die leaving dependants behind, a life assurance policy could provide some financial security and allow them to meet ongoing expenses.

No-one really wants to contemplate their own death but if you can afford life assurance cover then you should at least consider what your death would mean financially for your loved ones. Having some level of cover could prove to be invaluable in a time of need.

The same need applies to both men and women equally but in research conducted by Coyne Research on behalf of Irish Life in December 2017, just 45pc of women were found to have any form of cover to support them in times of financial difficulty compared with two thirds of men. Similar statistics are borne out in Irish Life’s 2017 claims which showed that only one third of life insurance claims that the group paid out last year were to women, and the majority of specified illness claims (53pc) were also paid to men.

Whether women work outside or within the home, death or serious illness can have a major impact on the financial situation for a family. Life Insurance Plans offer a range of benefits such as Life Insurance and Living Benefits which include Specified Illness Protection and Income Protection which, depending on the type of cover, could pay out a lump sum or a regular income that could help towards maintaining the lifestyle that a family is used to.

Protection Plans are needed for different reasons and women as much as men should think about their life cover needs so if you are considering your needs, get in contact with Con Friel & Company on 074 9121301, by email confriel@eircom.net or by contact form.