Life insurance can help protect women and their families in a tax-advantaged way while also providing income for retirement or benefits for long-term care.
A Nationwide survey revealed 83% of women investors have a strategy in place to generate guaranteed income in retirement and 59% have a strategy in place to help protect assets against market risk.
The pandemic has made it harder to engage with new clients.
Women face a number financial planning challenges, led by an income gender gap that leads to a retirement savings gap. Add the caregiving challenges brought on by the COVID-19 pandemic, and you have a population group at financial risk.
Advisors can expect women to benefit from a broad range of education and product options due to varying life stages and ongoing changes in their financial condition.
According to a poll of nearly 2000 investment app users by The Penny Hoarder, two out of three (66%), said they started investing during the pandemic, and 67% said the pandemic was the reason they became more serious investors.