Less than half of women in Ireland have any form of financial cover to support themselves in times of financial difficulty, according to research by Irish Life.
Two-thirds of men have protection such as life insurance, specified illness cover or income protection, compared to less than half of women.
In addition, only one-third of life insurance claims that Irish Life paid out last year were to women, highlighting a worrying insight into a lack of financial protection for women in Ireland.
"It’s worrying to see a stark lack of financial protection for women in Ireland, which is reflected in both our 2017 claims report and our own research study with Coyne Research," said Sarah Kelly, Senior Manager for Protection in Irish Life Retail.
"It’s really important that women take time to assess their own financial protection needs and what they can do to protect themselves and their family against any unexpected events.
"Very often this is forgotten about or delayed due to the hustle and bustle of everyday life.
"We need to make women in Ireland more aware of the real benefits of life and specified Illness cover, as it can be a lifeline for them and their families in times of difficulty."
This data supports recent research findings by Irish Life, which found that less than half of women (45%) have any form of financial cover to support them in times of financial difficulty.
Irish Life’s 2017 claims report shows the number of women dying from cancer in Ireland remains high, as over half of women’s life insurance claims (54%) were for cancer in 2017, compared to 38% of men.
Cancer was also the main cause for specified illness claims for women (77%) and for men (49%).
Breast cancer was the main type of cancer claim for women (39%), followed by colon cancer and ovarian cancer.
- Digital Desk
We just sent you an email. Please click the link in the email to confirm your subscription!