According to a study by LifeSearch, the number of women in the UK buying life insurance in the UK has doubled over the last six years. As women are increasingly closing the gender related pay gap and even becoming the main breadwinners in a household, they are also becoming more vigilant about their finances and less financially dependent on their partners.

Linda Tyson, a policy advisor for LifeSearch stated that the increase was attributed to the "growing awareness of the importance of protecting the financial stability of the family. More and more women are either the main or only breadwinner and are realising the importance of protecting their incomes."

An additional advantage for women is upon applying for cover, they pay less in premiums than men, which is additional money to save, invest or spend on holiday with the girls. This reduction in premiums is based on the fact that women live an additional seven years longer than men. Insurance companies deem men a greater insurance risk when it comes to life insurance. In general, a woman pays 25% to 35% less than a man.

The most cost effective way to buy life insurance is term cover, which allows for a lump sum to be paid out over a given period upon the death of the policy holder. The lump sum will protect the partner or family and the extent of the cover will vary on how much the policy holder wishes to invest and length of time over which they wish to invest it.

Alternatively, there is the option of whole-of-life insurance, in which case a lump sum will be paid out upon the death of the policy holder - whenever that happens. Given that the payout is guaranteed, the premiums for this type of life insurance are much higher, although women still pay less than men.

Websites such as moneynet provide an easy method for women to review different life insurance policies, the risks and associated costs and given that the ratio of male to female web users is almost 50:50, it's not surprising that women have the web (and their finances) under their thumb.

Resources

Channel 4 Money
Moneynet Life Insurance
Women and life insurance

About Rachel:

Rachel is a straight talking little lady who lives in the Scottish hills. She survives on a diet of Irn Bru and haggis, which allows her to see wild animals in the night and roast them with her fiery breath. Rachel also writes for the personal finance blog Cashzilla: a wee bit of banter on finance related issues.

E-mail: rachel@positiveinterest.com
Phone: 0131 561 2251

• Stuck in Paradise, Needing Medical Help
Before embarking on an overseas vacation, travelers should check their medical policy to see what is covered or get special travel insurance.

• Obama Considers Major Expansion in Aid to Jobless
The Democratic economic package may include much more government-assisted health insurance and unemployment help.

• Mr. Bush’s Health Care Legacy
President Bush can lay claim to some signal achievements in health care ones that we urge Barack Obama to continue and develop further.

• Jobless Claims Fall; Holiday Cited
The number of newly laid off workers signing up for unemployment benefits fell sharply, the government said, but those continuing to draw aid climbed.

• South Carolina Governor Relents on Jobless Funds
Gov. Mark Sanford relented Wednesday and agreed to apply for $146 million in federal funds, after weeks of refusing to do so.


Life Insurance News



• Bill Swartz Named National Sales Manager for John Hancock Fixed Annuities (PR Newswire)
Experienced Hancock Veteran To Lead Team of 10 Wholesalers

• Prudential PLC - Corporate Reporting Calendar 2009 (Marketwire)


• Debt trouble at Lee triggers auditor's warning (AP)
Lee Enterprises Inc., publisher of the St. Louis Post-Dispatch and other newspapers, said in a regulatory filing that it will have trouble paying its debt over the next two years because of severe reductions in revenue.

• Dividend Declaration: Delaware Investments(R) Dividend and Income Fund, Inc. Announces Dividends (PR Newswire)
Today, Delaware Investments Dividend and Income Fund, Inc. , a New York Stock Exchange-listed closed-end fund trading under the symbol "DDF," declares a monthly dividend of $0.0575 per share.

• Dividend Declaration: Delaware Investments(R) Global Dividend and Income Fund, Inc. Announces Dividends (PR Newswire)
Today, Delaware Investments Global Dividend and Income Fund, Inc. , a New York Stock Exchange-listed closed-end fund trading under the symbol "DGF," declares a monthly dividend of $0.0575 per share.


Property & Casualty Insurance News



• Why Dilbert's Creator Doesn't Trust Warren Buffett (at CNBC)


• Final Glance: Insurers companies (AP)


• OneBeacon Schedules Fourth Quarter and Full-Year 2008 Earnings Release and Webcast (PR Newswire)
OneBeacon Insurance Group, Ltd. will review its fourth quarter and full-year 2008 results via live Webcast at 10:00 a.m. ET on Friday February 6, 2009, following its earnings release earlier that morning.

• RLI 4th Quarter Earnings Release Teleconference (Business Wire)
PEORIA, Ill.----RLI Corp. , a specialty property & casualty company, will hold its quarterly conference call to discuss fourth quarter results on Tuesday, January 27, 2009, at 11:00 am Eastern Time.

• PartnerRe Announces Executive Management Changes in its U.S. Operations (Business Wire)
PEMBROKE, Bermuda----PartnerRe Ltd. today announced executive changes in its U.S. operations.

What to Look for in Good Health Insurance
Health insurance is a kind of protection that provides payment of benefits for covered sickness or injury. Included in health insurance are various types of insurance such as accident insurance, disability income insurance, medical expense insurance, and accidental death and dismemberment insurance. More..

Insurance Credit Scoring: An Ethical Issue
The issue at hand is the use of a consumer's credit score as an underwriting tool for auto insurance rates. What is a credit score or FICO score? A FICO score is a credit score developed by Fair Isaac & Co. More..

Poor call centre performances driving motorists online for insurance
In their efforts to cut costs more and more finance companies are looking to use offshore call centres to provide their customer services and administration. This is especially prevalent in the insurance industry, where it seems as if there is a newspaper announcement of previously UK based services migrating abroad every day. More..

Should I Buy Rental Car Insurance?
Rental car agencies have a menu of insurance policies they would like to sell you. While each policy could be of some benefit under the right circumstances, you should review each plan (its provisions, limitations, and exclusions) before making a purchase. More..

Reducing Soaring Insurance Claim Costs
With the soaring rise in claims to insurers from their customers, millions of pounds are being lost on a day to day basis throughout the industry in regards to personal property insurance. A new system in the UK provides insurance companies with an easy and effective method to reduce their personal property claims by over 80%. More..

Insurance in Northern Ireland: Historic Difficulties
No doubt most readers will have heard of the Northern Ireland "troubles" or possibly seen some of those ghastly images from the seventies, eighties and early nineties on your television screens. Thankfully the worst of those dark days seem to be over. More..

Flat Insurance in the UK
What are the factors involved in flat insurance? Do I need to provide both buildings and contents cover? Who will cover shared flats or flats with student tenants? The responsibility to insure the building fabric of a flat lies with the freeholder. This means that if you own your flat on a leasehold basis then you only need to insure the contents. More..