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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. In a , only 67% of female respondents had life insurance, compared to 79% of male respondents. The study suggests that women may be undervaluing their financial contribution to their family, and as a result, may be undervaluing the importance of purchasing life insurance. Women still shoulder many of the household responsibilities such as childcare and cooking, but may also provide significant financial support to their families. Life insurance is meant to protect a family’s finances in the event that a caregiver or primary breadwinner passes away, to make up for a lost salary and/or to finance domestic services such as cooking, cleaning and childcare. This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. The offers and clickable links that appear on this advertisement are from companies that compensate Homeinsurance.com LLC in different ways. The compensation received and other factors, such as your location, may impact what ads and links appear, and how, where, and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available to you as a consumer. We strive to keep our information accurate and up-to-date, but some information may not be current. Your actual offer terms from an advertiser may be different than the offer terms on this widget. All offers may be subject to additional terms and conditions of the advertiser. Compare life insurance providers quickly and easily
See which provider is right for you. The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses. Whole life insurance combines life insurance with an investment component. Coverage for life Tax-deferred savings benefit if premiums are paid 3 variations of permanent insurance: whole life, universal life and variable life include investment component Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time. Fixed premium over term No savings benefits Outliving policy or policy cancellation results in no money back Find matches Powered by HomeInsurance.com (NPN: 8781838) This advertising widget is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Bankrate Why Lemonade? It's a fresh twist on life insurance: easy, accessible and affordable. See more providers in Choose from insurers in Show More If you’re a woman looking for life insurance, it’s important to understand what options are available to you and how insurers compare based on your personal criteria. Bankrate’s editorial team compiled a list of some of the best life insurance companies for women, each selected on the basis of the company’s policy offerings, riders, endorsements, no-exam options and other attributes. Life insurance for women
Using life insurance to leave loved ones a financial cushion is a practical form of financial protection, especially since many women fulfill both breadwinner and caregiver roles. But there are other reasons why more women may want to consider prioritizing life insurance. For instance, the right kind of life insurance coverage can level the gender inequality gap in the event of a divorce. Lauren Blair, a lawyer and insurance expert with , has over 25 years of family law experience. She says, “Given the income disparities that continue to exist between men and women, it is important to make sure that the wife receives an equitable division of property and assets in a divorce.” A life insurance policy that is appropriately structured can be a beneficial, divisible asset. Whether you want life insurance to finance domestic activities such as childcare and cooking, or to compensate for your lost salary after you pass away, knowing the difference between term and permanent life insurance can help you choose a policy that best fits your situation and goals. A stays in effect for a predetermined number of years, such as when your children are young. A term policy has no cash value savings or investment accounts. A remains in effect for your entire life and builds cash value with every premium payment. Because of a greater likelihood for a payout, monthly premiums for permanent life are typically more expensive than for term life policies. Best life insurance companies for women
When it comes to life insurance prices, gender is one of the biggest factors used when determining rates. Since women have a greater life expectancy and than males, life insurance is for women. Everyone’s life insurance needs are different based on their circumstances, but we’ve done a little research to find and compare some companies that may be a better fit for women. These insurers were chosen by analyzing each company’s policy offerings for term, life and universal life insurance, and factoring in available riders. For our category “Best for fast coverage with no medical check” we looked for the availability of a no-exam life insurance option. These insurers may be best for women based on their unique circumstances, although you will need to speak with an agent and compare policies yourself to determine if this is the case for you. Company Best for Protective Life Insurance Best for optional riders State Farm Best for fast coverage with no medical check Prudential Best for high limits Northwestern Mutual Best for overall financial planning Principal Financial Best for high-risk coverage Protective
Protective Life Insurance may be a good option for women who would like more personalized coverage, as the carrier offers numerous riders. Mothers may want to consider adding a child rider to their policy. If you plan on naming your child as a beneficiary, be sure to appoint a guardian, as minor beneficiaries cannot receive a death benefit payout except through a legal entity like a trust. If there is no guardian appointed, the courts will intervene to appoint one, which can be a long and potentially costly process. Protective’s child riders are available for infants as young as 15 days old and provide a death benefit should your child pass away. The rider may be convertible to a permanent policy, regardless of your child’s health, which could offer an affordable way to insure your child for life while they are young, healthy and eligible for affordable premiums. Learn more: State Farm
State Farm provides quick and easy online quotes for life insurance. Women looking for an instant-approval life insurance policy that does not require a medical exam may want to consider using State Farm’s service. The quote-generating process takes less than 10 minutes and guides you with tools and calculators, which can help you figure out how much life insurance you need. Learn more: Prudential
If you are a high-income earner, one way to calculate the amount of life insurance you might need is by multiplying your income by five or ten years. If you end up with a large number, Prudential may be a good fit for you, as it allows policyholders to assign a benefit as large as $10 million. The company also offers three different types of universal life insurance that provide flexible options to build savings. As to whether the funds will be there when your beneficiaries need it, Prudential has earned an A+ (Superior) in financial stability from the credit reporting agency AM Best, which is reflective of the insurer’s historical ability to fulfill its claim obligations. Learn more: Northwestern Mutual
Women who see life insurance as an essential component of their estate and financial planning may find offers a few advantages in this category. Northwestern Mutual’s dividend-earning whole and universal life policies offer some great savings options, and since it’s a mutual company, policyholders are eligible for dividends. In addition, you will have access to a certified financial planner that can help you develop a financial plan that evolves as your policy’s cash value grows. Learn more: Principal Financial
A pre-existing medical condition can make it more difficult to qualify for life insurance or affordable rates, but Principal Financial may be more willing to work with those who have health issues. For example, Principal underwrites individuals with adult-onset/Type 2 diabetes. Unlike many insurance companies, an applicant with diabetes may still receive standard, preferential pricing or second-tier premiums. Learn more: Types of life insurance for women
Life insurance falls into two main categories: . Term life insurance is generally the cheaper option, as it remains active for a set period of time, typically between 10 and 30 years. Permanent policies are typically much more expensive as a payout is typically inevitable, but the following features may be attractive to some women: No expiration: As long as you pay your premiums and keep your policy up to date, your coverage should not lapse. This aspect may be beneficial since women typically live longer than men. Has a death benefit and cash value: The death benefit is the amount you leave to your beneficiaries. The cash value amount is similar to an investment or savings account that you can access and borrow from. Financial return options: The cash value account can accrue interest similar to a savings account or can be invested in stocks or an index fund. However, term life insurance is likely a better option if you only want coverage for a set period of time when your financial obligations are most critical, like when your children are young. If you decide you want to go with permanent life insurance, a licensed insurance agent or financial planner may be able to help you decide which type of permanent policy is right: : The premiums are fixed, and the cash value of this type of policy earns interest. : The premiums are flexible, and the cash value earns interest. : The premiums are flexible, and the cash value can be invested in stocks, bonds or mutual funds. Everyone’s financial goals are different, and for some women, a term policy with cheaper premiums may be the better option. In addition to speaking with a licensed expert, it may help to do a little research on life insurance companies and compare quotes to narrow down your top choices. Frequently asked questions
What is the best life insurance company for women
There are many to choose from and everyone’s needs are different, which means the best life insurance company for women will be different for each person. Speak with a licensed insurance agent or financial advisor, and shop around to compare rates and policy features to determine what is best for you. Can I name my unborn child as a beneficiary on my life insurance
Many insurance companies will require you to wait until your newborn is 15 days or older. When you name your child as a beneficiary, be sure to appoint a trustworthy guardian to manage the death benefit until the child is of legal age. If you do not, the courts will appoint one on your behalf, which could be expensive and time-consuming. Should I get life insurance for my child
Whether or not you want to get life insurance for your child is a personal decision. While child , some parents choose to get life insurance for their children to make them more insurable in the future, or to protect against unexpected funeral costs. For instance, if your child develops a health issue down the line, but already has life insurance, they’ll likely be able to lock in a low premium. SHARE: Lizzie Nealon is an insurance contributor for Bankrate and enjoys making home, auto and life insurance digestible for readers so they can prepare for the future. Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Related Articles