The Growing Gender Gap for Life Insurance

Jan 18, 2017

The fact that more men have life insurance coverage than women is nothing new. Since the industry’s inception, more men have had coverage than women. For most of recent history, the gap in coverage between men and women has been steadily closing. Between 2010 and 2016, however, it grew. Today, we discuss why this is the case and what it means for you, as an insurance broker.


The Data

According to the Life Insurance Marketing and Research Association (LIMRA), 56% of women and 62% of men had life insurance coverage in 2016. In 2010, 57% of women and 61% of men had life insurance. This may not seem like a drastic difference, but a gap growth of two percentage points in half a decade is definitely noteworthy.


Reasons for Growing Gap

Several reasons may account for the growing gender gap in life insurance coverage. Reasons newly insured women often cite for living without life insurance coverage for so long include misconceptions about the cost of life insurance and a belief that life insurance is intended only for a household’s primary breadwinner. LIMRA’s research suggests that career choices (women are more likely to gravitate toward jobs that don’t offer generous employment benefits) could account for some of the gap.


An Opportunity for Insurance Professionals

Awareness of the growing gender gap in life insurance should be viewed as an opportunity by industry professionals. Insurance providers should rewrite existing plans to improve coverage for women. Brokers, for their part, should focus more of their marketing efforts on reaching uninsured women. If more women believed that life insurance was crucial and knew it could be affordable to them, more would probably have it.


Are you an independent broker looking to increase your client base? For access to tools and resources that can make your marketing strategy and materials more effective, call Brokers Alliance at (800) 290-7226.





Category: Life Insurance

Category List


Tag List

Death Benefit (2)
permanent life insurance (4)
leads (6)
business owners (4)
Tips (4)
Gift (1)
Long-Term Care Awareness Month (1)
gul (4)
Income Planning Academy (1)
Beneficiary (2)
Alternatives (5)
Hybrid Products (1)
Index Universal Life (1)
PBR (1)
Brand Values (1)
underwriting (1)
Market Exposure (1)
Fixed Indexed Annuities (2)
life insurance quotes (1)
Additional Earning (1)
Training Event (1)
2019 (1)
Star Wars (1)
Gender Gap (1)
Donation (1)
Looking Forward, Giving Back (1)
FIA (1)
Clients (2)
consumer marketing (8)
Retirement Strategy (4)
business owner solutions (1)
sales kit (2)
Deferred Fixed Annuities (2)
MAC (4)
Annuities (36)
Executive Bonus Arrangement (1)
business (1)
march madness (1)
Retirement (13)
Life Insurance Broker (15)
Waste Management Open (1)
Millennials (6)
online resources (1)
Life Insurance Evaluation (8)
Sales Concepts (18)
Annuity (3)
Inflation (1)
Life Insurance Update Show (9)
guaranteed universal life (1)
Tax Benefits (2)
Investments (2)
social security (2)
Alternative Investments (2)
rates (1)
Benefits (1)
Life Insurance Check Up (7)
Life Insurance Awareness Month (6)
Marketing (14)
Breast Cancer Awareness Month (5)
DOL (2)
Annuity Update Show (11)
Economy (1)
Fixed Annuities (9)
Social Optimization (3)
Video On-Demand (2)
Pitch (1)
advanced markets (1)
Compliance (1)
Universal Life Insurance (4)
Income (1)
Required Minimum Distribution (1)
final expense (1)
Long Term Care (5)
life concepts (1)
E-App (1)
life insurance awareness (1)
business planning (6)
Insurance (21)
key person (1)
BlackRock (1)
funeral (1)
IRA (1)
PPC (2)
resources (2)
Baby Boomers (1)
Life Insurance Brokers (6)
life 101 (2)
Annuity Concepts (13)
Illustrations (1)
Prospecting (6)
life happens (1)
Financial Legacy (6)
Charitable Giving (3)
agent resources (1)
Media (2)
business solutions (4)
Retirement Investment (3)
case studies (3)
Financial (4)
Generation Y (1)
Cash Value (1)
Variable Annuities (1)
end of year (1)
Facebook (2)
Brokers (2)
CSO (1)
Healthy Living (1)
Interest Rates (1)
Best Rates (1)
Life Quotes (4)
injury (1)
Production (1)
Featured MAC App (2)
virtual sales (3)
LifeBrain (1)
Legacy Planning (1)
myAdvisorCloud (4)
tools (2)
Quoting Tools (1)
sales presentations (2)
indexed universal life (2)
savings (1)
Health Care (2)
Mobile App (1)
non-med (3)
Breast Cancer Research (1)
Retirement Planning (24)
Protection (2)
premium deposit account (1)
Brokers Alliance Open (1)
analysis (1)
Indexed Annuity (3)
networking (1)
term (6)
Life Insurance Trends (21)
MYGA (10)
Life Insurance (96)
Asset-Based LTC (1)
Legacy (1)
Brokers Alliance (8)
private pension funding (1)
presentations (3)
estate planning (2)
Advice (1)
Social Media (8)
PIA (2)
Leaderboard (1)
selling (1)
illness (1)
Product Updates (1)
Immediate Fixed Annuities (1)
digital tools (1)
industry trends (1)
Retirement ACE (1)
Financial Planning (20)
quoting (1)
earning opportunities (1)
term life (10)
trends (1)
IUL (15)
hiring (6)
guarantee (1)
review (2)
RMD (1)
products (5)
MAC App Feature (1)
Webinar (4)
Market (1)
advanced planning (2)
Charity (2)
Quotes (1)
Sales (25)
Premium Finance (5)
living benefits (8)
buy sell agreement (1)
Content Building (2)
Roth (1)
training (9)

Tag Cloud

Insurancelife insurance awarenessagent resourcesStar Warslife 101Financial LegacyIncome Planning AcademyinjuryleadsLong Term Carelife conceptsindustry trendssales kitPIAfuneraldigital toolsQuoting ToolsAlternativesLegacy PlanningIndex Universal LifeMillennialsInvestmentsGiftBrand ValuessellingLooking Forward, Giving BackSocial Mediamarch madnessDonationLife Insurance Awareness Monthprivate pension fundingFacebookProductionPremium Financeterm lifeUniversal Life InsuranceLifeBrainLife Insurance Check UpInterest RatesFixed AnnuitiestrendsProduct UpdatesDeath Benefitestate planningEconomyCharitynetworkingend of yearFIALong-Term Care Awareness MonthAsset-Based LTCPitchLife Insurance Trendsearning opportunitiesAnnuitiesMarketLegacyHealth CareBlackRockSales ConceptsLife Insurance Brokersindexed universal liferesourcesgulProspectingAnnuityMACcase studiesIULbuy sell agreementMAC App FeatureBreast Cancer Awareness MonthLife QuotesCash ValueRetirement StrategyRMDpremium deposit accountreviewBest RatesBenefitsbusiness solutions2019Financial PlanningGender Gapbusiness planningBrokers Alliance OpenProtectionsocial securityE-AppVariable AnnuitiesRequired Minimum Distributionnon-medWaste Management OpenFeatured MAC Apptrainingbusiness ownersfinal expenseDOLMarketingClientsLife Insurance BrokerPBRBreast Cancer ResearchBrokers AllianceRetirement ACEquotingguaranteed universal lifeadvanced marketsLife Insurance Update ShowHealthy Livingliving benefitsMediaContent BuildingRetirementonline resourcesPPCproductsBeneficiaryunderwritinglife happensDeferred Fixed AnnuitiesGeneration YSocial OptimizationbusinessLeaderboardhiringMarket ExposureSalesComplianceImmediate Fixed AnnuitiesIRAInflationbusiness owner solutionsExecutive Bonus ArrangementHybrid Productsanalysisadvanced planningIndexed AnnuityratesBrokersmyAdvisorCloudAnnuity ConceptsCharitable GivingTraining EventCSOFixed Indexed AnnuitiesRetirement InvestmentFinancialguaranteevirtual salesAlternative InvestmentsQuotesAdvicetermBaby BoomersAnnuity Update ShowtoolsLife InsuranceWebinarkey personIllustrationsRothMYGAMobile Appsales presentationsVideo On-DemandTipsRetirement PlanningLife Insurance EvaluationIncomepermanent life insuranceconsumer marketingpresentationslife insurance quotesAdditional EarningTax Benefitsillnesssavings


Archive