More and more women are working full time, launching their own businesses and becoming breadwinners for their family. Traditional gender roles are being swept aside for more flexible models – so why are women still losing out on vital protection cover?
A recent study has suggested that, although similar numbers of men and women are taking out life insurance, women are covering themselves for less. The difference for life and critical illness cover was 50%, with men covering themselves for an average of £104,710 against just £68,916 for women.
Mind the gap
Why are so many women underinsuring themselves? One reason this may be happening, which has been aired by industry commentators, can be attributed to the traditional role that women used to play as housewives and homemakers. This outmoded view, where the female figure traditionally stayed at home to look after the family, may mean the value of their contribution has been ignored or undervalued, which has translated to the level of protection applied.
Don’t sell yourself short
If you’re thinking of taking out life cover, don’t risk underinsuring yourself. We can help you evaluate your outgoings and financial responsibilities so you can get the cover you deserve.
Contact us in the office today to see how we can help and to arrange your no-obligation financial review.
As with all insurance policies, conditions and exclusions will apply.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.