For a significant number of women in the workplace, their job is integral to helping them support their household’s income and lifestyle. So much so that if they had to stop working should they become ill or die, they worry that their family would not be able to stay financially stable.
Indeed, more and more females could be considering soft skills courses to improve their career prospects even further in order to achieve promotions and earn more money, so they can put some aside for an emergency, such as if they were unable to work again.
This is because Aegon has revealed that 28 per cent of women (13 million) are concerned about what would happen to their loved ones if they could no longer work.
As much as 46 per cent of British women believe it is their responsibility alone to ensure their family has enough income in unexpected circumstances, and 29 per cent consider their children’s finances to be nearly as important as their health and happiness.
Despite this, more than half do not financial protection should they have to stop working due to a serious illness or even death.
Stephen Crosbie, protection director at Aegon, said: “[Protection] is an important safety net that can help meet a family’s monthly expenses, ranging from mortgage payments to the supermarket shopping.”
He added: “Too many women in the UK are putting themselves and their families at unnecessary risk by not taking steps to protect themselves, despite the pressure they feel to provide for and support their children.”
In the event that they had to stop working for six months, 38 per cent said they would have to rely on their savings. However, as much as 16 per cent do not have any savings at all, the same amount believe their finances would last just six months, and 13 per cent claim it would stretch to a year max.