However, the average check for men is twice as high, 344.5 thousand rubles against 117.6 thousand rubles among women.
The most significant difference is observed in the currency of endowment and investment life insurance contracts. Women prefer ruble products mostly, which account for 95% of all policies issued by the fair sex. Men are twice as frequently as women conclude agreements in foreign currency, US dollars and euros.
“According to the International Labor Organization, women earn about 18% less than men worldwide. This difference in Russia is even more noticeable and reaches 30%,” comments Natalya Belova, Marketing Management Director of IC Rosgosstrakh Life. - This is reflected in the size of contributions to saving and investment insurance products. Investing smaller amounts women also think less about diversifying them, while men tend to allocate money in different “baskets” of currencies leveling the risks. Besides, male clients use financial analytics when deciding on investments more often than women.”
When issuing investment-cumulative life insurance policies, almost 100% of female clients indicate a specific beneficiary who will receive savings in case of an adverse event. Beneficiaries in “male” policies are designated only in 71% of cases. If adverse event occurs, policy savings without specific beneficiaries will be transferred to the rightful heirs after 6 months.
“This is due to the fact that women save for a specific financial goal of their loved ones, usually children, more often than men. Men save money for themselves, but this is not a sign of a big ego but rather the head of the family role. They want to control finances and independently determine the necessary amount, for example, for child’s higher education,” Natalya Belova explains.
The characteristics of consumer behavior in women and men are similar in other aspects. As for insurance term, the difference is insignificant: the average insurance period for women is 9 years, for men - 10 years. The average client age is 50 and 48 years, respectively.
Source: http://www.asn-news.ru/news/71929#ixzz64xAk5XUS
Photos are from open sources.
