[Updated February 6, 2022]
“A Woman in harmony with her spirit is like a river flowing. She goes where she will without pretense and arrives at her destination prepared to be herself and only herself”
– Maya Angelou.
These words resonate in the world of financial security. A woman who is financially secured does not fear the vagaries of her destination. She arrives prepared no matter the nature of the outcome and the risks associated with the journey. This article discusses financial literacy in relation to insurance for women self-empowerment.
Financial Literacy for Self-Empowerment
It is crucial for women, especially Nigerian women, regardless of status to take a much more active role in shaping their financial wellbeing. This ensures they gain more clarity, confidence, and control of their lives. Women need to embrace financial literacy, especially in insurance, as a tool for wealth management and self-empowerment.
Men are financial daredevils who like risk, and women are likely to be cautious and want security. While many believe that this study points to a gender-focused financial stereotype, what is irrefutable is that even the risktaker needs protection. So, what option is best for financial security than an insurance policy?
Insurance protects you and your assets from financial risks associated with your life and the people, valuables, and investments you hold dear. In the event unpalatable events happen, there is an assurance that you are more than empowered to deal with it.
Insurance for Women: How Insurance empowers women
Here are five ways insurance enables a self-empowered woman:
1. Financial Protection
As a woman who may share financial responsibility with a spouse, insurance is the best protection for your financial obligations. It gives you superior peace of mind and financial protection against undesired future events.
2. Insurance can help you grow
Gone are the days when we have put money in a jar or the ‘Ajor’ saving schemes. There are now innovative insurance products that can give you better returns as well as offer life insurance.
This measure also applies to a retirement plan. You can use insurance products to plan for your retirement and easily maintain your current lifestyle in the future.
3. Leaving a legacy for children
Studies have linked one of the reasons children drop out of school to the death of a parent or guardian. However, with insurance, you are assured that your children’s future is secured should life happen to you or your spouse.
Every mother wants to ensure that no hurdle comes in the way of her children’s desire of getting a quality education. Insurance gives the financial protection to actualize the children’s dreams in the absence of their mother.
4. Cover health Issues
Medical costs are rising day by day, and if one contracts a critical illness, the experience can be traumatic and can affect a family’s financial strength if they recourse to out-of-pocket payment of expensive medical bills.
There are also innovative insurance covers that ensure that you are in the best position to cover the cost of providing a befitting funeral for a demised elderly loved one, no matter the state of your finances when it happens.
5. Insurance will help you live your best life
Imagine that your car got involved in an accident, and instead of engaging yourself in an unnecessary brouhaha, you calmly call your insurance company to deal. That is the power and confidence that insurance bestows.
Women do not win the road rage responses to road incidents, but with an insurance policy, who needs even to shout! This confidence transfer also applies to your business.
If eventualities happen at work, knowing you will bounce back, stronger and better is a typical example of living your best life. Insurance will give you that.
At Leadway Assurance, we understand perfectly well the value women bring to their family, business, work, and society, so we provide support for women in all spheres of life.
We have different insurance products that can help you make the best risks management decision as you shoot for that financial security. Every woman should have the best insurance partner. Leadway Assurance with its five decades of operational experience is that partner you deserve.
So, we invite you today to join the league of satisfied, happy, and self-empowered women by calling the Leadway Assurance hotlines on 08088578050 or sending an email to .