During the pandemic, certain factors have heightened the vulnerabilities of women’s finances.

It’s well known that women generally earn less than men, work in industries that tend to be more vulnerable in uncertain economic times and are usually the main carer for elderly relatives and children.

Valuing your role

Despite growing awareness of the benefits of protection insurance, there is substantiating evidence that a major gender gap exists when it comes to life insurance and women, this also applies to income protection.

This may be because a stay-at-home parent or lower earner is perceived to contribute less to the household. However, the financial value that can be attributed to such a role could come as a shock if that person were no longer around to deliver unpaid care.

Protecting yourself and your family

Financial protection, such as life insurance, critical illness cover and income protection policies, are the best ways for women to protect themselves and their families, now and in the future.

There are different options when it comes to choosing the most suitable cover, so if you are thinking about taking out protection cover, talk to us. We can help you find cover for your circumstances and budget.

As with all insurance policies, conditions and exclusions will apply.

Catch up on our other blog posts:

How does income protection work?

How does income protection work?

Income protection insurance refers to a group of insurance products that help you out financially, if you lose your income due to injury or illness. The COVID-19 pandemic has greatly increased awareness of the importance of having a safety net to fall back on in times...

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Protection and the gender paradox

Protection and the gender paradox

Despite a better understanding of the limitations of state health and welfare support than men, women are less likely to engage with group protection benefits. Its a phenomenon that Legal & General1 have termed the ‘gender paradox’. Despite knowing that state...

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South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.