Why Women Can’t Afford to Wait on Life Insurance

When it comes to financial security, women in America are standing on a fault line. For years, surveys have shown that women lag behind men in life insurance ownership. The latest 2025 Insurance Barometer Study confirms it: fewer than half of women (48%) say they have life insurance, compared with 54% of men.

That may sound like a small gap, but when you zoom in on the reality behind those numbers, it’s startling. Millions of women are one unexpected life event away from leaving their families exposed to debt, financial hardship, and broken dreams.

And here’s the most important part: it doesn’t have to be this way.

In our TheMoneyBooks series, we teach a core principle: protect first, then grow. Financial literacy is the bridge between worry and confidence, and nowhere is that more urgent than in the conversation about life insurance.

The Ownership Gap: More Than a Number

So why do fewer women own life insurance?

The data gives us a roadmap:

• Knowledge gap: Less than a quarter (23%) of women feel very knowledgeable about life insurance, and more than 1 in 10 say they know nothing at all.
• Cost misperception: Three-quarters of women overestimate the cost by 3–5 times the actual amount. Most admit they’re just guessing.
• Decision delay: Many say they haven’t “gotten around to it,” or that other financial priorities keep pushing it down the list.
• Complexity of underwriting: Over half (55%) say they don’t understand the process at all.

The result? A financial blind spot that affects not only women but their families, communities, and long-term wealth-building potential.

The Stakes Are Higher for Women

This gap isn’t just about percentages — it’s about lives. Women consistently report higher financial concerns than men:

• 42% worry about having enough for a comfortable retirement.
• 40% worry about saving for emergencies.
• 37% worry about long-term care needs.
• 35% worry about supporting themselves if illness or injury prevents them from working.

These are not small anxieties. They’re the real-life scenarios that derail families financially. Without protection in place, these risks become crises.

Nearly half of women (49%) believe their families would experience financial hardship within six months if the primary wage earner died unexpectedly. Three in ten say hardship would hit within just one month.

That’s not “someday” risk — that’s right now.

The Myths That Hold Women Back

Let’s confront three of the most damaging myths that keep women from getting covered.

Myth 1: “Life insurance is too expensive.”

In reality, a healthy 30-year-old woman can buy a 20-year, $500,000 term policy for the price of a daily latte. Yet, because of misinformation, most women believe it costs three to five times more than it really does.

Education flips this myth on its head. Once women see real quotes, the affordability becomes clear.

Myth 2: “I don’t have dependents, so I don’t need it.”

Life insurance isn’t just about children. It’s about anyone who relies on your income — a partner, aging parents, or even yourself if you want coverage for final expenses, debt payoff, long-term care options, or legacy giving. Waiting until you “need it” usually means paying more later or facing health-related challenges that limit your options.

Myth 3: “I’ll get around to it eventually.”

Time is not your friend here. The younger and healthier you are, the more affordable coverage is. Procrastination raises costs — and sometimes closes the window entirely if illness strikes before you’ve secured coverage.

Women’s Financial Power: Why Insurance Is Essential

Here’s the bigger picture: women are not just participants in the financial system. They’re becoming its leaders.

• Women control more than $10 trillion in U.S. financial assets, a number expected to triple in the next decade.
• Women make the majority of household purchasing decisions and are increasingly the breadwinners.
• Women are at the center of the Great Wealth Transfer, which will see trillions move across generations in the coming years.

With so much financial power, leaving the foundational step of protection undone undermines the very progress women have fought for. Life insurance isn’t a “nice-to-have.” It’s a critical part of building lasting wealth.

The Role of Financial Literacy

At TheMoneyBooks, we’ve seen firsthand how financial literacy changes this conversation. Once women understand:

• How life insurance works,
• Why it’s affordable, and
• How it protects their long-term goals,

the decision becomes easier.

Knowledge doesn’t just close the gender gap — it closes the confidence gap.

When women are informed, they move from being unsure and hesitant to decisive and empowered. That shift has ripple effects across their families and communities.

Shopping Smart: How Women Prefer to Buy

The study also highlights how women want to shop for coverage:

• 40% would research online but ultimately buy through an agent or financial professional.
• 26% would complete the purchase entirely online.
• 27% are actively looking for direction from a financial professional.

That tells us something important: women don’t just want products. They want guidance. They want someone who educates, listens, and helps them align protection with their goals.

This is where our mission fits perfectly. TheMoneyBooks series doesn’t sell policies — they build understanding. Once that foundation is laid, working with a financial professional becomes a natural next step, not a pressured sales pitch.

Stories That Inspire Action

Sometimes numbers aren’t enough. Stories bring the message home.

Consider the woman who thought life insurance would cost her hundreds of dollars a month. When she saw the actual quote — less than her family’s streaming bill — she cried with relief.

Or the mom who bought coverage after realizing her children would face financial hardship within weeks if anything happened to her. That single decision gave her peace of mind she hadn’t felt in years.

Or the single professional who purchased coverage to lock in affordable rates now, knowing she wants to start a family in the future. She called it “a gift to my future self.”

These aren’t isolated stories. They’re everyday women who realized waiting was the real risk.

The Urgency of Now

Here’s the truth: every month without coverage is a gamble. The longer you wait, the higher the cost, the fewer the options, and the greater the risk of being unprotected when your family needs it most.

Financial literacy gives women the power to:

1. See the real cost — and recognize affordability.
2. Understand the purpose — protecting loved ones, securing goals, building legacy.
3. Take timely action — because tomorrow is never guaranteed.

This isn’t fear-based. It’s reality-based. Women who act now build a wall of protection that gives them the freedom to focus on growth, opportunity, and long-term wealth.

How TheMoneyBooks Can Help

HowMoneyWorks for Women: Take Control or Lose It was created for exactly this reason. It addresses the unique challenges women face, from longer lifespans to pay gaps to caregiving responsibilities. It offers practical, approachable education — not jargon, not intimidation.

The book doesn’t just tell women what to do. It shows them how to think differently, how to ask the right questions, and how to spot the myths that keep too many stuck.

When paired with a conversation with a trusted financial educator, it becomes a game-changer. It’s the difference between feeling exposed and feeling protected.

A Call to Action

The numbers from the 2025 Barometer Study are clear: women’s reported need for life insurance is high, but ownership lags behind. Millions are exposed. Millions are waiting.

But waiting is costly.

The path forward is simple:

• Get educated.
• See real numbers.
• Protect your family.
• Then focus on building wealth.

Life insurance isn’t the end of the story. It’s the foundation of the story you want to write.

Final Word

If you’re a woman reading this, the question isn’t “Do I need life insurance?” The question is “Can my family afford for me not to have it?”

The answer, for nearly everyone, is no.

Don’t wait. Start today. Your family — and your future self — will thank you.

Click here to learn more about our book.