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Women and the life insurance gap


Women’s History Month is a time to reflect on women’s many contributions to American life. It’s also a time to gauge how far women have come in achieving true equality.

Many people are aware of the gender pay gap of women earning on average only 82 cents to every dollar earned by men. Another troubling financial reality people are less aware of is the life insurance gender gap.

Initial findings from the 2021 Insurance Barometer Study, by Life Happens and LIMRA, show that just 47% of women have life insurance, versus 58% of men. That’s a big difference. But many women may have an inkling that this disparity isn’t good: 32% of those with no life insurance say they need coverage, and 11% of those with coverage admit they need more.

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