The Overlooked Asset: Why Women Need Income Protection Insurance Now More Than Ever
Nicole Marques
Income protection insurance for women
Protecting Your Income, Lifestyle, and Legacy: A Conversation with Insurance Advisor Nicole Marques
When we talk about financial empowerment for women, we often focus on income generation — but what about income protection? For women entrepreneurs, professionals, and business owners, income is one of the most valuable yet vulnerable assets we have.
We sat down with Nicole Marques, an independent insurance advisor and longtime FemCity member, to talk about why income protection is essential for women who are building businesses, supporting families, and planning for long-term success.
Nicole specializes in Living Benefits — including disability, critical illness, and hospitalization insurance — and is on a mission to help women create financial resilience not just for themselves, but for their loved ones and legacies.
1. What inspired you to focus on income protection and Living Benefits as a core part of your insurance advisory work?
I didn’t set out to work in insurance — it found me after life threw me a curveball. Years ago, I had to leave my banking career because of a chronic illness I’ve lived with since I was a teenager. Suddenly, our family went from two incomes to one, and we had no financial safety net. It was a stressful, humbling time. I always say: life insurance protects the people we leave behind, but Living Benefits — like critical illness and disability insurance — protect us while we’re still here, recovering and trying to stay afloat. I focus on these products because I know, firsthand, how life can change overnight — and how much peace of mind this protection can offer.
2. Many women overlook income as an asset — why do you think that is, and why does it matter?
We’ve been conditioned to insure our homes, cars, phones — but not the very thing that pays for it all: our income. I think many women, especially caregivers and entrepreneurs, don’t always think of their income as something that needs protecting. But it absolutely is. When your income stops, your lifestyle, your family, and your business can all be affected. Protecting your income is protecting your freedom, your choices, and your future.
3. How can Living Benefits like disability and critical illness insurance support entrepreneurs and small business owners?
Entrepreneurs don’t have the luxury of employer benefits or paid sick leave. If we can’t work, we don’t get paid — it’s that simple. Living Benefits provide income when you can’t earn it yourself due to illness or injury. They give you breathing room to heal without having to dip into savings, borrow money, or shut your business down. It’s about creating financial resilience so you can focus on your recovery, not your bills.
4. What are some common misconceptions women have about income protection?
One of the biggest misconceptions is thinking their income doesn’t matter — especially if they’re not the primary breadwinner. But women often carry so much more than just financial responsibilities. We’re caregivers, household managers, emotional anchors — the glue that holds it all together. If we become sick or injured, who steps in to manage the home, care for the children, shop for groceries, or support aging parents? Those roles would need to be replaced, and that comes at a cost. Income protection isn’t just about salary — it’s about valuing all the unpaid labour women contribute every day.
5. What advice would you give to a woman who’s just starting her business and wants to protect her financial future?
Start with a clear understanding of your financial landscape — your responsibilities, your goals, and what would happen if your income paused. Then, work with someone who can guide you through your options in a way that makes sense for you. When you work with me, we’ll create a plan tailored to your stage of business and personal needs. I make sure you feel informed, confident, and protected as you grow — because building something meaningful deserves a strong financial foundation.
6. How has being a part of FemCity supported you as a woman in business?
I’m a newer member of the Toronto chapter, and while I haven’t been able to attend the in-person events yet due to scheduling or location, I’ve still found so much value in the community. The webinars, trainings, and even the emails have offered insight, motivation, and a sense of connection. It’s empowering to know there’s a network of women out there walking similar paths and cheering each other on.
7. How can women get started in evaluating their needs around income protection?
It all begins with a free consultation. I guide women through a simple but thorough Financial Needs Assessment — this helps us get a clear picture of where you are today, what risks might exist, and where the gaps in coverage could leave you vulnerable. From there, we build a strategy that fits your life, your goals, and your budget — no pressure, just clarity and peace of mind.Interested in learning more about protecting your income and creating financial resilience in your business and life?
Connect with Nicole Marques at [Insert her preferred link/email/social handle].