More women should have life insurance, expert says
16.10.2008
Women should consider taking out financial protection, one commentator advises.
People are not taking the time to think about what would happen if they were unable to work because of illness, or how their family would cope financially if they died, says Iain Mallon, director or marketing protection at AXA Life.
More women need to be encouraged to consider things such as life insurance and health insurance, especially younger people, he states.
"Women have to look at the environment they're in, the risks associated with not being able to work or potentially dying, [what are the risks] financially and what can they actually afford to protect," Mr Mallon explains.
Research by AXA has found that half of women across Britain have no form of life insurance, life assurance, critical illness protection or income protection.
Furthermore, 40 per cent of women with dependants do not have any form of life insurance cover, meaning their families could find it difficult to cope if they were unable to work or passed away.
People are not taking the time to think about what would happen if they were unable to work because of illness, or how their family would cope financially if they died, says Iain Mallon, director or marketing protection at AXA Life.
More women need to be encouraged to consider things such as life insurance and health insurance, especially younger people, he states.
"Women have to look at the environment they're in, the risks associated with not being able to work or potentially dying, [what are the risks] financially and what can they actually afford to protect," Mr Mallon explains.
Research by AXA has found that half of women across Britain have no form of life insurance, life assurance, critical illness protection or income protection.
Furthermore, 40 per cent of women with dependants do not have any form of life insurance cover, meaning their families could find it difficult to cope if they were unable to work or passed away.