News

Protecting Working Women

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Without income protection insurance providing them with a financial safety net, women would not be in an ideal financial position if they were no longer able to work and would be forced to rely on savings, their partner’s income or government handouts. Wiltshire Friendly Society offers women an opportunity to protect their income, so that in the event of injury or illness, they would receive a monthly amount to support themselves and their families.

Many women, especially mothers, have a tendency to think of everyone else first and put their needs last on the list; and they often don’t have any financial contingency, such as income protection insurance, in place in the event of illness or injury. Whilst many women understand the importance of looking after themselves, it is likely they haven’t considered the farreaching financial consequences of an illness or injury.

An American study* has discovered that the average mum works an incredible 98 hours per week - more than double the average working week of 39 hours. Whilst a few women are breaking the glass ceiling, the majority of women are paid less than their male counterparts. British culture pressures both men and women to conform to gender roles. As a result, working women often undertake the dual role of earning an income, juggling child care and parenting responsibilities, whilst also assuming the lion’s share of the domestic jobs in the home.

With the gender gap in the workplace gradually becoming closer, and the fact that we are now seeing more women as the main breadwinner in the household, it appears that almost half of women in the workplace are neglecting to protect their income with adequate insurance that could safeguard them and their family if they suddenly found themselves unable to work. We are finding more interest amongst women in business and we are supporting marketing campaigns to reach out to this important sector.

* Report commissioned by Welch’s Grape Fruit Juice - July 2017