Life Insurance Advice for Women: An Interview with Eric Towns
When women search for life insurance, the results often lead with the same formula: multiply your salary, pick a term, compare quotes. But that formula can miss what actually matters for many households. Eric Towns, who runs Life Insurance for Women, works with women making these decisions every day. In this interview, he explains why the usual advice can fall short, what comparison pages tend to omit, and how to reorder the questions before buying.
When the Standard Advice Doesn't Fit
The conventional starting point is a multiple of someone's salary. Towns says that approach does not tell the whole story, particularly for a woman whose contribution includes raising children, caring for a parent, or managing the household. He said "My approach is to start with what would need to be taken care of if she were no longer here. Who would provide that care, what would it cost, and for how long? A paycheck is only one part of a woman's financial contribution. The coverage conversation needs to recognize the rest."
That reframing matters because unpaid care work has real replacement costs. According to AARP, family caregivers provide billions of hours of unpaid care annually in the U.S., and replacing that labor would be expensive. For women balancing childcare, elder care, and household management, a salary multiple alone can understate what would need to be funded.
What Comparison Pages Leave Out
Towns says affordability over time deserves more attention than it often gets. He said "A policy can look good on paper, but the woman purchasing it needs to understand what she will be expected to pay and whether she can sustain that commitment." He also wants women to understand what coverage they already have through work, what happens to that coverage if they leave, which benefits are guaranteed, and what limitations apply. With cash-value policies, he said "she should understand the costs and how accessing money can affect the policy."
That gap is common. Employer-provided life insurance is often not portable, and the U.S. Department of Labor notes that group life coverage typically ends when employment ends. A comparison page can introduce choices, Towns said, but "It cannot tell the whole story of the person making the decision."
The Right Order of Questions
Towns said it is easy to start with "Which company is best?" or "What is the cheapest policy?" before deciding what the insurance needs to accomplish. He recommends a different sequence: "Who or what am I protecting? How much help would they need, and for how long? What coverage and resources do I already have? What can I comfortably afford? Then we can discuss the type of policy and the company."
That order puts purpose before product. It also aligns with guidance from the National Association of Insurance Commissioners, which advises shoppers to assess their needs and existing coverage before comparing policy types. For women who may be balancing multiple financial priorities, starting with the protection goal can prevent a decision that looks cheap upfront but does not fit long term.
A Place to Learn Without Pressure
Towns said the purpose behind Life Insurance for Women is to give women a place to learn, ask questions without feeling judged or pressured, and make informed choices. He said "I want women to have a place where they can learn, ask questions without feeling judged or pressured, and make informed choices for the life they want to live."
For readers beginning this process, the practical takeaway is to slow down the first step. Before comparing companies or premiums, define who and what you are protecting, estimate how much help they would need and for how long, inventory existing coverage, and set a comfortable budget. Then the policy type and insurer become a downstream decision rather than the starting point.
That approach may not produce the fastest answer, but it is more likely to produce one that holds up over time.