Selling to Women? Here are Some Things You Should Know
Forty‑seven percent of U.S. women ages 18 to 75 own life insurance, which is eleven points lower than men.1 In addition, 43 percent of U.S. women say they need, or need more, life insurance.1 That’s an underserved market of 56 million women.1 With Gerber Life, you’ll be able to offer prospective female clients life insurance products designed to be budget‑friendly to help them obtain the protection they need. Plus, they can find comfort in purchasing insurance through a family‑focused brand they know and trust.
An important part of making a sale is getting to know more about your prospective clients to help them decide which products are right for them. Providing guidance and information for income replacement can be a helpful starting point for women to assess their own situations.
FACT: The top 2 reasons women say they own life insurance are final expenses and wage replacement. Men say the same, however they go on to cite a variety of other reasons as well.1
TIP: Discuss the variety of applications life insurance has in financial planning with your prospective female clients to help them increase their knowledge and understanding of the many benefits life insurance can provide and the value it can bring.
39 million women say they are likely to buy life insurance within the next year1
Self-employed women may be more in need of life insurance since some may not have it through work
The Gerber Life Financial Wellness Checklist (for consumers) can be a handy tool to help you uncover your prospective clients’ needs and make assessments for income replacement, insurance coverage gaps and more.
- Help get the conversation started and address cross‑sell opportunities
- Assess needs and identify products to fill gaps in coverage
- Bring focus to specific needs
Learn more about selling opportunities by downloading these materials:
1 Life Insurance Brief: U.S. Women, 2022, LIMRA.
2 Available for qualified simplified issue applications. Gerber Life will search databases for prescription history, motor vehicle records and medical information in order to provide an almost instant decision (within a minute) for most of the digital and telephone applications submitted during normal business hours.
3 Policy will remain in force, premiums are guaranteed not to increase, and the death benefit and cash value are guaranteed as long as payments are made on time and within the Grace Period specified in the policy. The cash value and death benefit will be reduced by any outstanding loans. The policy loan interest rate is 8%.