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Women in Australia Life Insurance Underinsured

A Financial Spectrum Financial Planner in Sydney discusses the importance of Australian Women having enough life insurance

Why females need to give life insurance more consideration

The gap between men and women is closing in most facets of life. But it seems there’s one area females still have some catching up to do—protecting themselves with life insurance.  That’s the view of Simon Backman from Financial Spectrum, who believes the problem lies in the historical notion of the male being Bazaar the primary breadwinner.

“There cheap mlb jerseys was a time when you only took out insurance on the husband. But not only does that ignore the value of what Products women do—both at work and at home—it doesn’t reflect the changing nature of the Australian family” Women now earn 92% of male salaries, and despite making up 45% of the workplace, females represent only 15-20% cheap jerseys of all insured incomes. “The lack of insurance from women doesn’t cheap nba jerseys make sense—particularly when you consider how much more vulnerable women often are financially”, Mr Backman says.  This vulnerability stems from less time in the workforce, with women often assuming the role of primary carer cheap jerseys of children and/or elderly relatives.

As a result women typically have less savings, and less superannuation than men.  And considering women will statistically live longer, they can ill-afford extra setbacks. “Add illness or injury to the mix, and women can find it incredibly hard to recover financially if something happens to them”, says Mr Backman, “that’s where insurance can be so valuable”. Mr Backman urges RU all women, particularly those with a family and/or a mortgage, to vyro?í review their insurance needs regularly with their financial adviser. “Your cover has to keep up with your changing circumstances.  There’s no point putting it off until it’s too late”.

Women: Find Out If You’ve Got Enough Life Insurance

Contact Planning on of our friendly financial advisers on 0238 0888 or send us an enquiry Accueillir to book a complimentary first financial planning meeting.

For more information about Planning the wholesale jerseys importance of financial planning for women, download our free Ebook: Financial Planning for Women.

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Our response to limit the spread of COVID-19

  • As COVID-19 continues to spread, we would like to take a moment to let you know what Financial Spectrum is doing to respond.While we haven’t been directly affected with any confirmed cases, we are taking all reasonable precautions to remain safe.Our priorities are:
    1. Keep our staff and clients safe
    2. Stay fully operational in our service delivery and continuing to manage your financial affairs
    3. Play our part in minimising the impact on our community against the spread of COVID-19

    Financial Spectrum has the technology, infrastructure and systems to continue business as usual remotely and our staff will now be working from home.

  • You should notice no change to our service, with the exception that we are encouraging our clients to meet via video call, rather than face to face, unless requested. We will be contacting all clients with meetings booked over the next two weeks with instructions for a video call.This is an evolving situation and we will continue to monitor developments. We will keep you informed of any material changes to our approach.These are unprecedented times and we understand that many of you will be feeling unsettled about your finances. We would like to assure you that we are open for business and are here to help you. If you don’t have a meeting booked but would like one, or if you have questions, please contact us at info@financialspectrum.com.au or on
    02 8238 0888

Brenton Tong

Managing Director

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