A new study has uncovered a gender gap in life insurance coverage between working, married men and women with children under the age of 18.
The MetLife report reveals that married men with minor children have, on average, five times their annual household income in life insurance coverage. But married women with minor children average only three times their annual household income in coverage.
This gender gap exists despite the fact men and women express equal concern about the financial impact their premature death would have on their families, observes MetLife. Out of both fathers and mothers surveyed, 60% said they were very concerned.
Working, married women with children under 18 were almost half as likely as working fathers (26% of mothers compared to 48% of fathers) to say their employers' benefits communications effectively educate them on their benefits options, reports MetLife.
Only 38% of married women with dependent children, compared to 56% of their male counterparts, are currently "very satisfied" with their workplace benefits, the study also found.
MetLife's survey was conducted during fourth quarter 2009 by GfK Custom Research North America, New York. The sample comprised 1,305 interviews with full-time employees age 21 and over at companies with at least two employees. It included 382 married men and women with children under the age of 18.
