{"id":1285,"date":"2021-03-24T15:14:35","date_gmt":"2021-03-24T15:14:35","guid":{"rendered":"https:\/\/ladderlife.com/blog\/?p=1285"},"modified":"2021-06-01T18:00:39","modified_gmt":"2021-06-01T18:00:39","slug":"american-women-and-insurance-2021-survey","status":"publish","type":"post","link":"https:\/\/ladderlife.com/blog\/2021\/03\/24\/american-women-and-insurance-2021-survey\/","title":{"rendered":"American Women and Insurance – 2021 Survey"},"content":{"rendered":"\n
by Ladder Team<\/strong><\/p>\n\n\n\n As a historic International Women\u2019s Month comes to a close – one that marks a year since COVID-19 was declared an international pandemic – and we look ahead to Financial Literacy Month next week, Ladder releases its new survey on American Women and Insurance.<\/p>\n\n\n\n The events of the past year have impacted each and every one of us, but women perhaps most of all as an unprecedented number disappeared from the workforce, resulting in what many have dubbed a \u201cshe-cession.\u201d According to the National Women’s Law Center<\/a>, since the pandemic started, women have lost more than 5.4 million jobs, with many also disproportionately losing the long-term financial security that comes in the form of benefits like access to a retirement plan and employer-sponsored life insurance.<\/p>\n\n\n\n Despite the events of the past year, however, or perhaps due to them, 38% of women reported spending <\/strong>more<\/em><\/strong> time than usual thinking about long-term financial security since the start of the pandemic.<\/strong><\/p>\n\n\n\n However, while findings indicate that American women have a renewed focus on long-term financial security, there is still work to be done to get there.<\/p>\n\n\n\n What matters most?<\/strong><\/p>\n\n\n\n For women who have life insurance, peace of mind ranked as most important to them.<\/p>\n\n\n\n With women reporting “peace of mind” as their number one reason for getting life insurance in our survey, and naming \u201csecurity\u201d among the top 5 reasons money is important to them in a recent Ellevest survey<\/a>, it\u2019s clear that protecting their financial lives is just as important as building it.<\/p>\n\n\n\n What are the roadblocks?<\/strong><\/p>\n\n\n\n Perhaps the biggest myth for women to shake is the belief that secondary earners and stay-at-home partners don\u2019t need life insurance. <\/p>\n\n\n\n While life insurance is often thought of as something that could help replace income, it\u2019s crucial to remember that child care and the other household tasks that the partner handled would have to be taken care of by someone else if the worst were to happen. And that work could be very expensive.<\/p>\n\n\n\n