The females of a species tend to live longer, but for human women, that's no excuse. Even at a young age, everyone needs to think about life insurance. The buy-in may be small, but the payoff can mean the world.
More than 4 in 10 American women don't have life insurance, according to the Motley Fool. Even for those who do have policies, those plans aren't getting the job done as much as they could: Women carry 31 percent less coverage than men. It's certainly not a matter of gender disparity in needs: Life insurance can help anyone create a cushion for their loved ones if the worst comes to pass.
There are a number of different ways to figure out what kind of policy is right for you. One of the most basic starting points is how much you'd want a company to pay out to your loved ones. This usually ties into your salary, and over how many years you'd like a policy to be disbursed. How a policy is structured also depends on whether it's term life insurance, which limits payouts over a period of time, and permanent life insurance, which is more expensive but which also builds up a cash value, sort of like an investment.