Women fail to cover themselves for critical illness or death
May 22, 2010 by Reno
Filed under News, News-Insurance
For many people having critical illness insurance cover and life insurance cover is vital so that they can be certain that their loved ones are protected in the event that the worst should happen. Critical illness insurance and life cover provides peace of mind and stability for those that have the cover as well as for their loved ones, and there are many different policies available from a range of providers these days.
However, according to a recent report women in the UK do not seem to be as concerned about covering themselves with critical illness and life cover as they perhaps should be, and this has caused concern amongst some industry officials. A study that was recently carried out by leading life insurance firm Axa Life showed that many women in the UK had no life or critical illness cover in place.
According to the results of the study more than 30 percent of women did not think that they needed life insurance or critical illness cover. The figures showed that only one third of women actually had any life insurance cover in place, and when it came to critical illness cover only 20 percent of women had any cover in place.
Furthermore the results indicated that of those women that did take out life insurance cover and critical illness cover many were underinsuring themselves, which could prove to be problematic for them or their loved ones in the event of critical illness or death.
An official from Axa Life said that women had become more independent over recent years in many ways, including financially, and that they needed to be more aware of possible health problems and take steps to protect themselves financially against unexpected health problems that could seriously affect them and their families.
Tags: Insurance, life insurance, AXA, women, Critical illness insurance
Mothers should be able to make pension contributions
September 28, 2007 by admin
Filed under News, News-Banking
More action is required in order to ensure that women are able to contribute to their pensions through motherhood, according to the Fawcett Society.
Company spokesperson Sarah Campbell has claimed that the government and employers need to act on the issue, noting that women who take time out of work during motherhood have reduced access to both private and state pensions.
Her comments follow research by the society that reveal that men save £51.03 more each month than women, while 55 per cent of single mothers were found to have no savings at all.
Ms Cambell believes that the gender pay gap lies at the root of the problem and that mandatory pay checks for all employers should be enacted to prevent the problem.
“Measures are needed to increase access to flexible working for parents and to encourage and enable men to take more responsibility for caring for children, so that this task can be shared more equally,” she added.
A UK campaign group for equality between women and men, the history of the Fawcett Society traces back to 1866 when Millicent Garrett Fawcett instigated a peaceful campaign for women’s votes.
Women put off by financial jargon, IFA says
August 15, 2007 by admin
Filed under News, News-Banking
Women tend to be “put off” by complex finance, an independent financial advisor claimed today.
According to AJS Wealth Management, female consumers prefer the “tangibility” of hard cash rather than the discussion of financial terms and higher-end commercial discussions.
Director at AJS Anna Sofat said: “One of the things [our] research threw up was that women are put off by finance; they like money. I think it comes back to tangibility.
“Money is here and now; finance is a bit high-faluting, full of jargon and complexities that they don’t necessarily want to get their heads around – not that they can’t, they just don’t want to.”
This apparent disparity between the sexes appears to reflect a difference in average wages. According to a recent report by National Savings & Investments, women still make four per cent less than male counterparts in total.
Only a marginal improvement, of three per cent, has been registered over the past seven years, as the statistics show that female salaries still have catching-up to do.
