Differences Between Life Insurance for Men and Women


Life insurance for men is generally treated differently than life insurance for women. Men and women have different needs and this may also be translated into their policies for life insurance. For men, in general, there is more life insurance coverage in society than for women. Women typically have about 69% as much coverage as typical life insurance for men. This difference may often be attributed to higher incomes for men than women. There is also typically a difference in the kind of coverage by gender. The policies of life insurance for women may also be affected by income disparity.

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However, more women today have begun to carry life insurance in at least some form. According to the Life Insurance and Market Research Association (LIMRA), about 60% of women had life insurance in 2010. LIMRA also showed how the policies have declined in general, and a recent Pew study revealed that 30% of wives earn more than their husbands. However, life insurance for women has not increased at the same rate. Even today, in some homes, the family skips life insurance for women and may only insure the husband.

Yet families can be vulnerable in situations like this, since more households depend upon two incomes these days. As the families depend on this joint income, it may be now more important than ever to help protect the financial assets of the family. Both men and women may want to carry some kind of life insurance. To learn more about life insurance, including choosing a life insurance broker, visit the article “Why People Choose a Life Insurance Broker.

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