79% of the surveyed men had life insurance policies, compared with 67% of women. The average insurance coverage of fathers of families is $423 thousand. The amount does not exceed $231 thousand for women. The difference in $192 thousand is on the side of the stronger sex.
“While most fathers (78%) and mothers (79%) say that their own death would have a significant impact on the quality of life of their families, women prefer to save, buy insurance less often and with less coverage,” the Haven Life study says. The experts explain this phenomenon by the fact that men's earnings are still the main source of income for their families.
The same inequality was recorded among respondents who did not have life insurance policies: men would like to insure themselves to the amount of $355 thousand in average. Women prefer products with the coverage of $175.
The survey also showed that 19% of men and 8.5% of women believe that housewives do not need life insurance.
The study was based on a survey of 385 respondents. The target audience is married people or people in a family partnership with a minor child or children.
Source: https://www.cnbc.com/2019/09/19/women-make-this-big-mistake-when-it-comes-to-life-insurance.html
Photos are from open sources.
