According to Aegon UK’s 12-page report, What Really Matters, 57 per cent have no protection cover, despite 67 per cent of women working to support their family. Thirty per cent of working mums have no savings whatsoever, and 13 per cent have enough savings to last a year.
The Dutch-owned life and pensions provider estimated that, in the event of a serious illness or accident, 28 per cent of working women would need to rely on state support if they were unable to work for six months.
Dougy Grant, protection director at Aegon UK, said: “Whether it is a reluctance to discuss the unimaginable, a feeling that protection is not affordable, or simply a lack of awareness about the services on offer, there are many reasons why women are not insuring themselves for the benefit of their family.
“There’s a clear disconnect between the peace of mind of protecting our most pressing priorities and our behaviour as a consumer.
“This is why the adviser is pivotal in addressing this disconnect and helping translate these priorities into the most appropriate actions for the customer.”
