Women make up nearly 47% of the U.S. workforce but account for a larger portion of high-income earners and are starting more of their own businesses. They are projected to be holding the purse strings for $30 trillion by 2030. That would represent 38% of all investable assets, which is more than four times what they controlled just a decade ago.
Yet life and annuity (L&A) products are often overlooked among women, suggesting a major opportunity for life insurance agents, brokers and advisers to tailor sales strategies and messaging for this increasingly important audience. Consider, for instance, that just 49% of women own a life insurance policy compared to 55% of men.
