Women are leaving themselves seriously under-insured financially according to a report from Bright Grey. While many women have increasing financial responsibility in the household, many are still failing to safeguard their financial security. 59 % have no life insurance and 84 % have no critical illness insurance.
The majority of women state this is because insurance products are an added expense that they cannot afford. For many women, it appears that a lack of financial awareness around what protection products provide is a real barrier.
Roger Edwards at Bright Grey says "While many women are now the main household earner, most have not realised the benefits that protection can give - not least because in a number of cases, they do not know enough about the range of products available. Having insurance in place gives peace of mind that women and their families will be financially secure if their income suddenly stopped because of a long term illness or death."