Millennial women are less financially safe than men of the same age

Adam Saville
clock • 4 min read

Research by Chartered Insurance Institute (CII) has found women are more indebted and less confident when managing money than men

Women are taking longer than men to repay student debt and are more affected by non-mortgage debt, a report by CII entitled ‘Securing the future of the next generation: The moments that matter in the lives of young British women' has found. According to the research, women earn less than their male peers and have more credit card debt on average (£926 vs £790), while 18-24-year-old women are less confident when managing their money than men (37% vs 48%) and are more likely to worry about it (57% vs 45%). It is thought that a combination of growing debt, lower earnings and a lack of se...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

Protection policies rise on 2023 despite quarterly decline: Gen Re

Protection policies rise on 2023 despite quarterly decline: Gen Re

Falls in premiums and policies

Jaskeet Briah
clock 02 September 2024 • 2 min read
Partner Insight: Insuring the uninsurable – a new approach for income protection

Partner Insight: Insuring the uninsurable – a new approach for income protection

Traditional, underwritten Income protection is the gold standard to protect a client's income – but what if they can't afford it, or are ineligible?

National Friendly
clock 02 September 2024 • 4 min read
Parental guilt over unplanned sick leave

Parental guilt over unplanned sick leave

Financial and emotional impact of poorly children

Cameron Roberts
clock 29 August 2024 • 1 min read