Advertise Here
Icon

Directory

IconActuaries
IconAssociations & Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCall Centre Outsourcing & Sales
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconLegal
IconLife Insurance Companies
IconLife Insurance Products
IconOmbud
IconOutbound Sales
IconPolicy Administration
IconPolicy Trading
IconPublications
IconRe-insurance Companies
IconRegulatory Authorities
IconSales and Sales Management
IconSocial Grants (Government)
IconSurveys and Research
IconTraining Courses & Workshops
IconWellness Programs
Image
  Subscribe To »

1Life research: South Africa’s women are financially savvy with more women having life cover, and keeping it, than men!

Published

2020

Wed

19

Aug

This Women’s Month, 1Life’s research celebrates South Africa’s women by demonstrating that they are financially savvy and leading the way.

 

The research shows that 12% more women have life cover than men. Similarly, women have also been more careful about keeping this cover in place during COVID-19 compared not only to their male counterparts but, to the same time last year.

 

“Women are a fundamental pillar to the economic growth of the country and we believe that these stats not only indicate the importance of such cover in the female consideration set when it comes to their financial future, but also that, despite very challenging times, financial wellbeing and making sure their dependents are taken care of is mission critical for South Africa’s women,” says Laurence Hillman, CEO at 1Life Insurance. 

 

48% of the sample are single, divorced or widowed women – with majority between the ages of 35 – 44 – where many of them are reliant on their own income to support their financial future.

 

“Our research also indicates that South African women are in tune with their long-term financial needs and are financially savvy when it comes to protecting their loved ones’ financial futures.”

 

One area of concern that the research highlighted however, is the fact that only a very small percentage of women are covered for dread disease – with only around 4% of them having such cover in place.

 

“As we face higher female-related cancers each year, as well as childhood cancers that are often forgotten about, it is important that consumers understand the financial impact of such diseases and that they plan ahead for these as best as possible – dread disease cover enables them to do just this and should be a key consideration as part of their financial planning,” says Hillman.

 

“While women are still paid 28%1 less than males counterparts in SA – as well as live longer2 and need to make their money and investments stretch further - as we celebrate Women’s Month, we celebrate the strides women are making in taking control of their own financial wellbeing, despite this fact, by getting their house in order and taking their financial planning seriously,” concludes Hillman.

 
Source: Orange Ink
 
« Back to previous page Print this page » |
 

Breaking News »

FPI awards – Winners announced

“We believe that hard work deserves to be rewarded, and that’s why we make sure that we recognise the outstanding achievers in the financial planning industry annually,” according to the Financial ...
Read More »

  

Advisors now more dependent on social media

Advisors now more dependent on social media “Amid the coronavirus pandemic, financial advisors are flocking to social media in order to maintain contact with clients and ...
Read More »

  

International Survey maps the future of home and motor insurance

International Survey maps the future of home and motor insurance A recent Deloitte survey aimed at discovering what customers want, and how COVID-19 has shifted their needs, ...
Read More »

  

What will Finance Minister Tito Mboweni's 2020 Medium Term budget offer?

South Africa's economic recovery plan The plan is aimed at fast-tracking the recovery of the economy from the devastation caused by the COVID-19 pandemic. It outlines government's plan to revive the ...
Read More »

 

More News »

Image

Healthcare »

Image

Investment »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Growth Shares:

Shares that trade at higher PE multiples, and have the long-term appreciation of the original investment as their primary goal.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2020. All Rights Reserved.