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WomenInsurance is often a gender-specific product in terms of pricing, but it is blind to gender when it comes to issuing a policy. Then why do study after study show that women tend to be less insured than men across a broad range of policy types?

It’s not difficult to rectify this. If you are concerned about the types of insurance you need to think about adding to your portfolio, consider these coverages:

  • Long-term care: According the Central Intelligence Agency, in 2011 the average woman in the U.S. has a life expectancy of 80.93 years while the average man’s life expectancy is just 75.92. This gap means that your spouse may not be there to care for you when you can no longer take care of yourself. Long-term care insurance ensures that you will have the resources to pay for the care you need, when you need it. This is especially important since women not only outlive men but may also be more likely to outlive their savings, as evidenced by the 2008 research released by the Population Reference Bureau which stated that elderly women are, “highly vulnerable to poverty” and showed 28 percent of the women living at poverty level having been widowed. 37 percent were divorced or separated.
  • Renter’s insurance: If you are unmarried but sharing a home with your partner then their home insurance policy is likely to cover your property as well as the policyholder’s. If you rent a home together, however, their renter’s insurance will not. That’s why you need your own coverage for both liabilities and property.
  • Life insurance: If you work, then you need life insurance to replace your income, if you should pass away. If you’ve chosen to be a stay at home parent though, as the census bureau reports that 23 percent of mothers did in 2010, you still need life insurance so that your spouse has the resources he will need to help care for your children and home.
  • Health insurance: The National Center for Biotechnology Information (NCBI) released a study in 2009 that found that 45 percent of women had either accrued medical debt or had trouble paying medical bills in 2007. It’s interesting to note that this 45 percent figure was also the same percent of women who were either uninsured or underinsured in 2007, compared to 39 percent of men. Getting a health insurance policy can help prevent you from being saddled with medical bills you can’t afford to pay while helping you get regular treatment and cancer screenings.

Women have access to the same insurance coverages as men, and they should take advantage of them. Give us a call at  740-467-2040 and we can look through your current Ohio auto policies among others and develop a plan to take you from underinsured to properly covered in no time.

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