A Pressing Women’s Rights Issue
International Women’s Day celebrates the achievements of women for equality, and identifies any inequalities for future action. Here is one inequality that I think should be addressed pronto: life insurance ownership by women has not kept pace with men.
Financial writer Michael Meulemann talks about this in a recent article in insurance.about.com. He cites several reports that describe the progress women have made in the workforce, on the one hand; yet at the same time, they indicate that the purchase of life insurance by women has not increased at the same rate.
Here are some of his startling conclusions:
Women comprise 49% of the workforce, but 43% have no life insurance
27% of wives are breadwinners, but millions of households rely soley on the husband’s life insurance policy
The average female policy covers 31% of the average male policy
He also emphasizes that stay-at-home moms need coverage as well.
The women’s rights movement rightfully tackles pressing political, legal, and social issues. But inadequate family financial security is a problem that can cause much distress and suffering, especially among children. Don’t you think it demands immediate attention?