Mothers have a great incentive to secure a life insurance policy: their children. According to LearnVest, not only will life insurance provide financial security, but it offers mothers peace of mind that their loved ones will have the resources they need as they get older should something happen.
Women who want to secure a policy, but are unsure of where to start their search, should explore offers from a number of different providers. After carefully assessing the cost and features of each policy, they should select the option that best fits their budget and needs. The website said the next step is for the individuals to fill out the necessary forms, on which they should be completely honest on.
After the forms are sent in, and if the policy application is for a underwritten policy, the insurance company will send out a healthcare professional for a health assessment and rates will be quoted by the company, the website said. At this point, mothers can decide if they want to go forward with purchasing a policy.
According to the Worth Survey for Women by Penn Mutual Life Insurance Company, women have about half the life insurance coverage men do, with $96,000 compared to $189,000. About 78 percent of women said they're behind in guaranteeing their family would be OK if something happened to them.