Nearly one-third of women feel like they don’t have enough life insurance coverage. And there’s good reason for that: Nearly one-third of women report having no life insurance policy at all.
Even when women do have life insurance, they tend to have smaller policies. This may be partially attributed to the fact that women have lower incomes thanks to the gender wage gap, and the rule of thumb with life insurance is to buy a policy that covers at least eight to ten times your annual income.
It can also be attributed to the fact that women are more often forced into full-time, unpaid caregiving positions as mothers, leading them to think they have less to insure. However, just because your work is unpaid does not mean it has no value.
Stay-at-home moms, whether in the position by independent choice or societal pressure, should remember that if they’re gone, the labor they do in the home will have to be taken care of by someone outside the home. Childcare, housekeeping and more will have to be outsourced, adding to the family’s expenses.
Regardless of why the mom in your life doesn’t have enough life insurance, Mother’s Day can be a beautiful time to gift her a policy. Life insurance is affordable for many, with premiums as low as $25/month.
Here are some cute ways to gift her the new coverage, bearing in mind that what you’re actually giving her for Mother’s Day this year is something absolutely priceless: Peace of mind.
Take Something Off Her Plate
Have your children design a glass plate, drawing pictures of their favorite memories or activities to do with their Mom. Wrap it up with the life insurance policy. Then, when you gift her the present, include a note or card that says something along the lines of, ‘This Mother’s Day, we took something off your plate.’
Weight Off Her Shoulders
If Mom’s been building a home gym throughout quarantine, you can couple the life insurance policy with anything from her home-gym wishlist.
Whether she’s been wanting free weights or something from Tonal, when you wrap it with her new life insurance policy you’ll be able to use another cute pun in your card: ‘This Mother’s Day, we’re taking a weight off your shoulders…’
‘Piece’ of Mind
Is Mom into puzzles? If so, order her a special one, like this map of where you met or a photo of her and the family turned into a puzzle. Wrap it with the life insurance policy, including a note: ‘This Mother’s Day, we wanted to give you ‘piece’ of mind!’
Does your mom or wife already have a life insurance policy, but the coverage isn’t enough?
Then pick up the difference for the increased coverage premiums. You can make this gift cute by getting her a bottle of her favorite adult beverage, wrapping it up, and including a note saying, ‘This Mother’s Day, I’m topping off your life insurancepolicy -- and your drink!’
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