Life insurance for women
Women tend to have less life insurance cover than men and although research in 2005 showed that the number of UK women buying insurance had doubled since 1999 women are likely to be underinsured particularly if they have dependents.
Traditionally women were less likely to take out life insurance because they were not primarily responsible for household income. This is changing and according to research by the Future Foundation the current 14% of households where women are the main breadwinner is set to double by 2030.
All women should consider getting some form of life cover, critical illness or family benefit protection whether they are single or not. Because women on average live seven years longer than men, life insurance tends to costs less for women.
If you are married or have a long term partner a joint life insurance policy with your partner which pays out its proceeds on the first death may be an option you could consider.
If you are a single woman with no dependents then making sure you have adequate income protection may be more of a priority for you.
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