insurance for women - Exquisite Magazine

Insurance is a contract which transfers risk from one person to another, for a fee. There are so many types of insurance for women, men and children alike but primarily broken down into life and non-life.

General insurance helps us protect ourselves and the things we value, such as our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, flood, to theft, car accidents, travel mishaps – and even costs of legal action against us. You can employ the services of an insurance broker in choosing the right kind of policy with the features you need.

Life insurance  is a type of insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term

Almost anything is insurable, as long as you can pay the premium!

Read More – Finance Friday- Should a full house wife have savings?

Different Insurance Covers For Women You Should Know

The insurance covers below have been customized to the various roles we play as women:

  1. Sole Provider

A number of women may find themselves providing for the family all by themselves intentionally or ‘divinely orchestrated’, irrespective, your future plans do not have to change or be stalled. Life Insurance can help maintain your family’s standard of living, as well as take care of your funeral costs when you pass on

  1. Secondary Earner

Most Nigerian homes are dual-income households and in such a case, the woman must be able to sit with her spouse to have this discussion, especially for the sake of the child(ren) and any dependants.

  1. Single mom

Life insurance is a necessity for anyone with dependent children. As a single parent, you likely shoulder all the responsibilities of raising your family. Life insurance can provide financial security to your children if something should happen to you and it’s not even as expensive as you think!

Read More – Finance Friday: when a lady is earning more

  1. Stay-at-home mom

As a stay-at-home mom, you may write off the idea of a life insurance policy for yourself because you think the family wont be impacted financially if anything happens to you. Think again. Did you know that ‘salary.com’ evaluated the role of a woman in the home and attributed a salary of over N28,000,000 to that role alone?  That’s because you are the nanny, lesson teacher, school runs driver, housekeeper, nurse, cook, to mention a few! So! the impact of losing you could be financially devastating.

  1. Single lady

Single or not, you are special to you and insurance is one way to love yourself. As a single lady, you can benefit from insurance covers that have investment leg such that if a claim does not occur, then you can get your money back plus interest. This also enables you borrow from the cash value on your life insurance policy or even use it as a collateral to secure a loan or get tax rebate.

 

About The Author

Oyinpreye Aigbogun is the Chief Operating Officer at Epicure Insurance Brokers (www.epicureinsurancebrokers.com) and can be reached on oyinpreye@epicureinsurancebrokers.com

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