Women fail to protect themselves but would their children

Written by Sam Jones on 25 September 2012.

Over two fifths (41%) of female employees said they would take out a protection policy if they had children, a huge rise on just a quarter (25%) who said they would in 2011. A further 28% said someone close to them getting a serious illness would make them consider purchasing critical illness cover, whilst a fifth (21%) cite getting married as something that would motivate them to do so.

Women with full-time jobs are increasingly holding the purse strings yet are still not taking the appropriate steps to protect themselves and their families, Scottish Provident's Women and Protection report has revealed.

Almost three in five (57%) women in full time employment predominately make the financial decisions in their household, compared to 47% in 2011. However, the study also shows that over 10 million women in full time employment (84%) do not have a critical illness policy in place, with the majority 57% citing expense as the reason they cannot justify taking out this cover. The cost of protection for women is also likely to rise when the EU gender directive comes into force on December 21st.

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