Working Women Still Unprotected

Published ¤ 19/04/2011 10:39:44

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Working women are still failing to protect themselves or their familes.

Working women failing to protect themselvesA recent study carried out by Bright Grey (Protection Provider) identified that nearly half (46%) of working women consider themselves to be the main earners in their family. The report also showed that women have more influence over financial matters in the home. In fact the results showed that over 3 in 5 (61%) working women are most likely to raise money discussions in their household.
Despite this emerging trend toward financial equality women are still failing to adequately protect themselves and loved ones against the unexpected. Over half of working women (53%) do not have life insurance and a staggering 4 out of 5 (84%) working women do not have income protection in place. Quite a scary prospect considering the shift towards female breadwinners!
Products such as Critical Illness Cover and Private Medical Insurance were also overlooked by many women. In another study carried out by Bright Grey, 53% of women stated that protection products were an added expense they couldn't afford; yet with the cost of life cover dropping considerably over the last few years, affordable protection is within most peoples grasp. Many households pay hundreds of pounds a month in car insurance premiums and protecting your family could cost less than you think.
When PKS approached a female client for her views on the topic, inertia was the key reason stated. The client went on to say "Eventualities aren't really considered, until someone close to you is affected in some way, you don't even contemplate something awful happening". As with most products of this type many consumers believe that they will be looked after some other way.
Unfortunately state benefits are not usually adequate to support those affected by the unexpected. Loss of income or serious illness, on a long term basis, could seriously affect the financial position of the family. In such a situation could other family members bear the burden?
Therefore, it is crucial that households are adequately protected. At PKS we can help find the right products, tailored exactly to your needs and requirements. Why not call us for a no obligation review of your current protection and needs? You may be surprised! Alternatively, visit our life protection calculator.

PKS is authorised and regulated by the Financial Services Authority in respect of mortgage and general insurance business only.
Registered address: 10 Addison Gardens, Odiham, Nr Basingstoke, Hants RG29 1AS
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