Almost half of working women in the UK do not have any form of protection in place with just 10% of women automatically receiving protection through their workplace, Aegon’s Protection Matters report has found.
The report also indicated the importance of advisers when encouraging to take up protection, with 15% of working women taking out protection following recommendation by a mortgage provider or financial adviser.
Stephen Crosbie, protection director at Aegon UK, said: “While the levels of automatic protection provision are surprisingly low, this era of self-provision presents a real opportunity for advisers to engage with working women and discuss the importance of taking out a personal protection policy.
“Employers, specifically those that don’t offer automatic protection, also have a crucial role to play in ensuring that their workers’ needs are met and all employees are aware of the benefits they offer.”
Despite the statistics, 44% of women asked their current employer about its provision as a workplace benefit and nearly a third (32%) said it was a key decision-making factor according to the report.