Women underestimate their life insurance value by 125 per cent ($373,000), while men underestimate it by only 19 per cent ($97,000), on average, according to a study from Noble Oak.
The study also found that Gen Z women (1997-2012) underestimated their value by $702,000 on average, which was the most of any group, followed by Gen Z men with $697,000.
Millennial women (1981-1996) undervalued it by $609,000, which was drastically different to millennial men who were undervalued by $268,000.
Gen X men (1965-1980) and baby boomers (1946-1964) overvalued themselves by $102,000 and $174,000 respectively.
Gen X women were undervalued by $115,000, while baby boomers only $13,000, silent generation women (pre-1945) had the highest overvalue at $658,000, while silent generation men were undervalued at $57,000.