Life insurance low among women

Posted on: Monday, January 30, 2012

A new survey indicates females tend to be less likely to purchase life insurance when compared with their male counterparts.

According to a recent report conducted by Metlife, "Protecting a Diverse Workforce: Steps to Address the Life Insurance Gap," life insurance ownership levels are at their lowest since 1960 but particularly among women.

Stephen Pontecorvo, vice president of group life products at MetLife, said this is a troublesome trend.

"As families increasingly depend on the income of a working woman, the ramifications of being underinsured are growing," said Pontecorvo. "MetLife research reveals that the workplace is the primary source for obtaining life insurance coverage for women, which uniquely positions employers to help close the underinsured gap."

The report also detailed that among women who had life insurance, 43 percent said they enjoyed being able to have access to their benefits by going online and 39 percent said they enjoyed having access to someone that could better explain the benefits provided.

The results of the survey are something for insurance agents to keep in mind, as it can help them generate more life insurance leads and better understand how to turn them into sales.

Posted In: Insurance News, Life Insurance

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