Due to their better life expectancy women are fortunate enough to experience cheaper life insurance when compared to men; however statistics suggests that women are more likely to suffer illnesses during their lifetime when compared to their male counterparts.
Unfortunately as women are deemed to be more likely to suffer illnesses, consequently they are also seen to be more likely to claim on their income protection policy – increasing the risk insurers’ associate with insuring women. In an attempt to counteract the risk of insuring women, insurance companies will charge more to insure women for income protection than men.
It is especially important with this in mind, for women to shop around and compare the premiums on offer from insurers. Although it is recommended both men and women shop around for all their financial products, the savings could be significantly more for women and their income protection insurance.
Endsleigh’s independent financial advisers can offer detailed advice into income protection insurance and the options available to you. It is important to seek advice to make sure your level of protection is not only adequate, but also that you are not creating added expense by over insuring yourself.
Endsleigh’s advisers will gather a full understanding of your circumstances to ensure any product they recommend is the most suitable for your needs now and in the future.
To speak to an independent financial adviser about income protection and the options available to you please click here and request a call back.
