The number of women in the workplace continues to rise and there are currently 14.53 million women working in the UK, the joint-highest level since records began in 1971. The growing importance of the female workforce is highlighted in new research from Aegon, which finds two in five (40%) of women are now the main breadwinners in their households.

However, Aegon state that just under half (45%) of women in work don’t have any protection cover at all. This means there are over 6.5 million working women whose family and business finances could be severely tested should the unexpected happen. This lack of protection cover comes despite Aegon reporting that the majority (62%) of these households are relying on one income to meet day-to-day living costs.

Life is unpredictable and while most people don’t want to consider it – illness, accidents, and death do happen. A serious illness or unexpected death can turn life as we know it on its head. For these female breadwinners - supporting themselves, children, elderly parents or other relatives - it can put great strain on family finances alongside the emotional distress. Buying protection insurance can provide a financial lifeline for themselves, their businesses and their families in the event of the unexpected happening.

Having the right protection in place means that bills and mortgages could be paid, children’s lifestyles are protected and businesses can continue in difficult times.

So why do so few have protection plans in place?
Perceived high cost of life insurance continues to be one of the main reasons why people do not have protection according to Aegon – with more than half of women (56%) saying that they don’t think they can afford it. However, so often our price perceptions are wrong and it’s worrying that so many of us are deciding based on what may be inaccurate information. So, we’d like to set the record straight and give you some great news! Life insurance might not be as expensive as you think and protecting the future of your loved ones could be well within in your budget!

Click here to see how Essential Insurance quotes compare

A non-smoking, 40-year-old woman can get level term life insurance for £150,000 over 20-year term for less than £140 per year or to be exact £11.60 a month through Essential Insurance (prices correct on the 28^th March 2017).

For free, no obligation advice and to get your quote, why not give one of our experts a call today on 0800 612 8005.