Well over half of the American workforce is now comprised of women, and those numbers are likely to increase as we enter the next century. Correspondingly, the ranks of women who become small business owners, professionals and executives will continue to rise.

At the same time, the shape of the “typical” American family continues to evolve. Although divorce rates have leveled off after a decades-long upswing, the rate of marriages and remarriages has slowed. Many households are now made up of unmarried couples, and many more are comprised of only one adult. In fact, the only thing typical about the American family these days is that nothing is typical.

All these changes mean that women have more responsibilities than ever before, not the least being financial. Yet, the idea of protecting a woman’s financial assets and earning power hasn’t caught on as readily. And with the new reality, that’s like playing with fire.

The need to insure against the financial consequences of death or illness should be a primary concern regardless of gender or marital status. Today’s single parent or dual-income-earning family are realities that aren’t likely to fade away. If you’re a woman, regardless of whether your earning potential is vital to only you or to others, consider the following forms of insurance and what they can mean in your life.

Disability Income Insurance:

More companies are now offering group long-term disability coverage, in which 50 to 60 percent of salary is paid should you be disabled for a lengthy period of time. Is that enough to support you? Your family?

Maybe you operate your own business. These days, more than a quarter of all new small businesses are owned by women, and that number is projected continue to increase. If you’re a small business owner, YOU probably are your business’ most valuable asset. Additionally, some disability income insurance policies provide what is called overhead expense protection, taking care of the business’ basic expenses such as rent, electricity and more in the event you can’t.

Life Insurance:

In a twist on a century-old selling angle, could your HUSBAND and children live in the manner which they are accustomed should you no longer be able to provide for them? It goes without saying that a single mother is her family’s sole financial support. But today’s working woman is more likely to be one half of a dual wage-earner family: her income every bit as important as her spouse’s if future financial goals — home, college, retirement — are to be met.

Retirement Income:

Retirement isn’t going to be any cheaper than pre-retirement has been. Whether you’re saving for your own retirement or a joint one, what you save now will affect how comfortably you live later. Annuities, 401(k) plans and pensions make excellent — and necessary — supplements to the rapidly decreasing value of social security benefits.

Women business owners and professionals have additional insurance concerns. Insurance can be used as a tool in buy-sell contracts, a perk to attract and retain key employees, and an estate planning and business continuation tool.

Regardless of your station or status in life, insurance can meet countless needs. Those needs are the same, regardless of gender, when it comes down to asset protection, wealth replacement and business preservation.