“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”. These are the wise words of the famed American poet and activist, Maya Angelou.

These words also 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.

It is crucial for women, especially Nigerian women, regardless of status- married, single, divorced, widowed or single-mum – to take a much more active role in shaping their financial wellbeing. By so doing, women will gain more clarity, confidence, and control of their lives. Women need to embrace financial literacy, especially insurance, not only as a tool of wealth management but as a weapon of self-empowerment.

According to an article in Investopedia, “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 need 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. It would not stop unpalatable events from occuring, but in the event they do, there is an assurance that you are more than empowered to face and deal with it. Here are five ways insurance enables a self-empowered woman:

Financial Protection: As a woman who may or may not share financial responsibility with a spouse, insurance is the best protection for your financial obligations. It gives you that superior peace of mind, knowing that you and your family will be ultimately protected, financially, now and the future should any unfortunate life event happens to you, or your significant other.

Insurance can help you grow: Gone are the days when we have put money in a jar or local the ‘Ajor’ saving schemes. However, there are innovative insurance products that can give you better returns and at the same time, offer life insurance protection. This measure also applies to a retirement plan. You can use insurance products for a methodical and organised financial planning for retirement so that maintaining your current lifestyle will not become a challenging course in the future.

Leaving a legacy for children: Studies have shown that one of the key reasons children abruptly stop schooling is traceable to the death of a parent or guardian. But with insurance, are assured that your children’s future would be secured should life happens 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, the most essential legacy parent bequeath to their children. Insurance helps you to get the financial protection that will assure children’s dreams are fulfilled even in the absence of their mother.

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 cost providing a befitting funeral for a demised elderly loved-one, no matter the state of your finances when it happens.

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 the society, so we provide support for women in all spheres of life. We have

Leadway Assurance with its five decades of operational experience is that partner you deserve.