Faced with the irreplaceable loss of a spouse, life insurance can help ease the grieving process
All deaths of loved ones and members of a family are difficult to assume. In the case of a spouse, the situation can worsen in addition to the inevitable emotional and affective ties, the evident decrease in family income if it contributed to them. The life insurance for widowers help make it easier to cope with this situation.
One of the first analyses that exist on the relationship of widowhood and its effects on the family situation is found in the United States in the middle of the 20th century. The study entitled ” Widows Study ” used a sample of testimonies from widows in that country, and took as a reference the role of life insurance in situations. This work was a before and after when establishing a regulation in the United States on this financial product. Above all, it explained the need to hire capital to maintain the standard of living in the event of a misfortune in the family nucleus.
Similar studies have been produced in USA in recent years to measure the impact and importance of having a Life-Risk insurance contract within a marriage. There are situations in which it is necessary to contract products that serve to compensate for the loss of income in the family economy if the death of one of the spouses occurs.
The public pension system of this type has a limited conception and is difficult to maintain in the long term. In addition to trusting in the viability of this system, it is essential to have a choice of private companies to take extreme precautions in the financial stability of our people. It is a fundamental complement to the pension provided by the State, which in the case of being widowed, its figure is approximately 600 $ per month .
The current situation of widowhood
In recent years there have been changes when it comes to facing widowhood in our society. If the fatality of the death of a spouse occurs in a family unit with children, sometimes there are members of working age who do not have their own source of income. This is because currently the youth unemployment rate exceeds 50%.
If we look at the figures from various studies that draw the panorama of widowers and widows in Spain, currently around 3.4 million are listed, whose income has been reduced to a figure of 650 $. Comparing widowhood in terms of gender, each man who remains a widower is made by five women. In addition, widowed women are the most economically disadvantaged, since their income falls by more than 800 dollars. This situation, added to the harsh emotional situation and the feeling of absence of the loved one, cause a deterioration of the standard of living.
The life insurance contract with widowhood benefits provides financial relief in a delicate family situation. Most of the income received by widowers comes from contracted private insurance. It will be necessary to calculate the insured capital well, since sometimes the standard estimate of life insurance is not enough, in which at least five years of the usual income of the couple is insured.