Last year, nearly six out of 10 women owned some sort of life insurance, finally bringing them up to speed with men, according to a the latest LIMRA life study.
And this despite life insurance levels overall remaining depressed from 2004 figures. And while the ownership drop among women was less pronounced, their coverage levels – on average – remained less than 70 percent that of men, according to the study.
"In our recent studies of women's sentiment toward life insurance, we found that women – 70 percent – place more value on life insurance than men, at 62 percent," senior research director, LIMRA markets research Cheryl Retzloff explained in a press release. "We also know most modern U.S. households are dual-income households with more women working and contributing to the family's finances. Overwhelmingly, they are making or helping to make the financial decisions for their families. This is a great opportunity for our industry to redouble their efforts to reach out to women to ensure their families are adequately protected against the financial repercussions of the death of a wage earner."
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