Report: Why Women Are Underserved & Underinsured in Life Insurance

In our industry, it’s important that we understand the unique challenges faced by women when it comes to obtaining adequate life insurance coverage. Despite comprising nearly half of the U.S. workforce, women remain an underserved market in the life insurance industry.

According to LIMRA’s 2023 Insurance Barometer Study, women recognize the importance of life insurance, with 44% acknowledging their need for coverage. However, statistics reveal that only 49% of women currently possess life insurance (compared to 55% of men). This discrepancy highlights the urgent need to address the barriers preventing women from obtaining adequate coverage.