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Working women take financial control - but neglect to protect themselves

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Almost a century after women asserted their right to vote, a new report from insurer Bright Grey reveals another step forward in equality by highlighting that almost half of working women currently describe themselves as the main earner in their household. But its not all good news as the Women and Protection report also suggests that women are actually less likely than men to have insurance should they suddenly be unable to work.

 

The report examines the financial role of women today and reveals that women are not only increasing their earning power but they are also gaining a stronger financial voice in the home. Over three in five working women are the most likely to raise money discussions in the home, compared to a marginally lower percentage of working men who would raise them.

 

When it comes to crunch time, working women are also just as likely to make the financial decisions in their household with nearly half of all working females making the financial decisions in their household - compared to just over half of working men. Three in five married couples consult each other on all financial issues.

 

Women fail to insure themselves. Over half have no life insurance cover in place. Over four in do not have income protection products, while a similar number have neither critical illness policy nor private medical insurance

 

Roger Edwards at Bright Grey says. "Women are putting themselves at risk by not protecting their income - especially if a household is dependent on their salary.”
Critical illness insurance news: 17 February 2011