A new report has found that women have significantly less insurance cover than men.
In a survey of 2,000 UK adults, a third (32%) of women said they do not have life insurance, twice the number of men (16%). More than a fifth of female respondents did not think they could afford it, versus just 10% of men who expressed affordability concerns. This disparity may be due to a lack of education, with 29% of women saying they have never been taught about life cover compared with 18% of their male counterparts. Moreover, three in ten (29%) women aren’t sure what support life insurance would provide to their loved ones if they died.
The report indicates that many people remain unsure about life insurance; what it is, what it can be used for, its benefits and its role in protection, estate planning and retirement.
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There’s no need to feel ashamed about what you don’t know as it’s never too late to get informed. We’re here to answer any questions you have. With the right cover in place, you could safeguard your family’s future if the worst happened.
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Sources:
https://www.actuarialpost.co.uk/article/women-twice-as-likely-to-not-have-life-insurance-as-men-25112.htm
https://www.fca.org.uk/financial-lives/financial-lives-2024
