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Life Insurance For Women VS Smartphone Insurance

Yes,  that was meant to get your attention and to spur up some life insurance thoughts!  Did it work?

Before I start, let me clarify that in no way do I believe a woman, man, or child should be compared to a handheld device.  This article is designed to shed light on what truly matters in life and how we can best protect and prepare financially.

The Conversation That Sparked Thoughts of Smartphones & Life Insurance For Women

Make Life Insurance A Priority

Make Life Insurance A Priority

I recently had a conversation with a neighbor of mine regarding if he should secure cell phone insurance on his 11 year old daughter’s new smartphone.  He had just signed a two year contract and had limited time to make a decision about the added expense of smartphone insurance.   The decision was clearly weighing heavily on him. (He brought up the topic both times I ran into him over the weekend.)

Basics of the smartphone insurance plan my neighbor was considering:

$11.00 a month with a $199 deductible (Varies depending on model of cell/smartphone)

-$132 ($11 x 12 months) is annual cost if no claims

-$331 ($132 + $199) is the annual out of pocket cost if one claim was submitted

-Limited to only two claims within any consecutive 12 month period

-Maximum on device value depending on the make and model of smartphone

-Protects against device loss, theft, damage, post warranty defects and accessory replacement

-Option to cancel at any time, and refund will be issued for days left in the month pre-paid and not utilized

It makes sense, she is only 11 years old and things can accidentally happen.  Plus, the total cost to currently replace her phone would be $649.99 plus tax.

The jury is still out on whether or not he will purchase smartphone insurance.  (However, he better hurry up because they limit your time to decide!)

Are You That Woman Securing Smartphone Insurance Before Life Insurance?

This whole thing got me thinking.  Most people will spend more time seriously contemplating insurance on their phone than insurance on the life of a loved one or themselves.  In many ways, I feel as though our priorities have been realigned and influenced by the tech and media driven world we live in.   Heck, the marketing slogan for that Asurion smartphone insurance plan even tries to give life to our phones.  Check it out!

Asurion's marketing efforts to "Humanize" our cell phones and other electronics.

Asurion’s marketing efforts to “Humanize” our cell phones and other electronics.

The majority of us spend more time with our smartphone devices then we do our own families.  We have become dependent on them and in a way addicted to the immediate gratification of information and enjoyment they provide.  Coincidentally, I was watching an episode of Shark Tank a week or so ago and an aspiring entrepreneur pitched “Phone Soap.”   Are you kidding me?  Apparently there is an ongoing problem of many of us taking our little handheld “Friends” everywhere (Including the bathroom).  Please consider securing life insurance on yourself before you fork out money on “Phone Soap” every month!  Your loved one’s deserve protection in case the unthinkable happens.

How Much Could A Woman Buy In Life Insurance At $11 Dollars A Month?

 

Life Insurance card with colorful background

What will it cost you?

Let’s take a look at some different female age scenarios that cost approximately $11 a month, shall we?

-A 21 year old can obtain $500,000 in life insurance coverage for a 10 year term

-A 31 year old can obtain $400,000 in life insurance coverage for a 10 year term

-A 41 year old can obtain $250,000 in life insurance coverage for a 10 year term

-A 51 year old can obtain $100,000 in life insurance coverage for a 10 year term

** All the quote examples above were considered to be non-smoking women in excellent health. Other factors are also considered when applying for life insurance.  The above example is meant to be a guideline from sample life insurance rates today.  (February 2015)

More Facts to Consider Regarding Life Insurance For Women

 

There is no “Replacement” cost on the life of a human being like there is for a smartphone.  However, you can complete a life insurance needs assessment with an independent life insurance agent to determine the appropriate coverage for your situation.  This will accurately put a financial plan in place to protect those left behind.

Life insurance for women protects spouses, children, and other family members against loss of income, childcare, a mortgage, college tuition costs, medical expenses and more.   It gives peace of mind knowing that your family members will be protected just in case.  No one can predict the future, but we do have the choice to be well prepared.

There are NO deductibles with life insurance like there is with smartphone insurance.  Also, life insurance becomes more and more crucial as you get older (Unlike a smartphone that loses the need for insurance as it’s model year ages).

Oh, and life insurance just like smartphone insurance can be cancelled at any time.

But, why on earth would you?

 

Please reach out to us if you have questions about life insurance for women.  We are happy to assist and there is never any obligation.  You can contact us by:

Phone (619) 933-0736

Email

OR

Shop quotes online

Apply online and get the process started today

Still not sure, check out this article about ITQ and how we get high risk life insurance cases approved!

 

*Written by Ellen Edwards. InsureTheQueen.com and its representatives do not give medical, legal, or tax advice. Please consult your own physician, legal or tax adviser.

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Ellen Edwards

Independent Life Insurance Agent at EM Insurance Services
Ellen Edwards is the owner of EM Insurance Services, an online life insurance agency. She is also the creator and lead blog writer of InsureTheQueen.com. You can find her on Google +, Twitter, and LinkedIn. Over the past 7 years, Ellen has successfully consulted individuals across the United States regarding their insurance needs. She is a proud single mom to two daughters and a son.
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