Women undervalue life insurance worth
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.
AUTHOR
Chris Dastoor
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
