When selling to women, many agents and brokers start conversations with a standard list of questions regarding marital status, children, income, financial goals, household expenses and other related topics.
This type of information is a great start, but it’s more important than ever for producers to pay close attention to their female clients’ lives, as there are two trends that likely affect women’s perception of voluntary insurance:
Women’s changing family responsibilities also affect what benefits options they elect. Women who are part of the sandwich generation need to protect their finances, so they can continue to provide care and assistance to their children and parents. Unfortunately, 68 percent of married women need to find financial resources to offer practical or routine help to their parents, while others still live on with only one income. Sandwiched families’ unpaid or donated time accounts for more than 33 percent of the overall cost of long-term elder care. They also contribute significant out-of-pocket funds, despite earning less than families without caregiving responsibilities.