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State Farm Life: Women Wary Of Advisors

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U.S. women trust their doctors and themselves far more than they trust financial professionals.

Researchers at State Farm Life Insurance Company, a unit of State Farm Mutual Automobile Insurance Company, Bloomington, Ill., have published figures supporting that finding in a summary of results from a survey of about 1,500 U.S. women ages 18 and over.

About 79% of the participants said they trust doctors, and 46% said they are extremely confident about their own ability to handle their household’s finances, the State Farm researchers report.

About 44% said they trust insurance agents, and 36% said they trust financial advisors and stockbrokers, the researchers say.

The researchers found that 56% of the women said they have strong relationships with their doctors; 16%, with their insurance agents; and 12%, with their financial advisors.

Just 57% of the women surveyed have life insurance, the researchers say.