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MassMutual To Advisors: Try The Lady Duffers

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NU Online News Service, Nov. 1, 2004, 6:15 p.m. EST

Female executives who play golf may depend heavily on advice from financial professionals.[@@]

Massachusetts Mutual Life Insurance Company, Springfield, Mass., has published data supporting that conclusion in a report on an informal, Web-based survey of 1,126 U.S. members of the Executive Women’s Golf Association, Palm Beach Gardens, Fla.

The researchers who conducted the survey found that 79% of the executives who participated in the survey said they earn enough to contribute at least 10% of their income to savings every month.

The researchers also found that 69% of the participants believe their group or individual disability insurance would replace at least 60% of their salaries.

Although 24% of the women executives said “life events” most influence their decisions about financial products, 49% said financial professionals had the most influence, and 66% said they typically buy insurance products through financial professionals rather than through employers or insurance companies.

Only 3% of the executives said they prefer to buy financial products from men, but 83% said they were as likely to buy financial products from men as they were to buy products from women.