Women have come a long way to take hold of their finances. How can the insurance industry further their progress?
By Tasha Williams, Senior Research Writer and Max Dorfman, Research Writer Women contribute more earnings to their households and feel more confident about personal finance than prior generations. However, they still face hurdles to taking charge of planning for their financial future and legacy. Findings from a new report, Lack of Knowledge and Confidence Deter Women from Purchasing Life Insurance, produced by insurance nonprofits LIMRA and Life Happens, indicate a substantial disparity in life insurance purchasing between women and men and perceptions surrounding these products. Society historically shut women out of their financial affairs. Women did not have the right to open a bank account in their name before the 1960s. Before the Equal Opportunity Credit Act of…
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