Penn Mutual Life Insurance has conducted a survey revealing that women who take an active role in planning their financial future have better self-confidence and are more likely to attend to their health and well being. To encourage women to plan for their financial future, Penn has debuted an interactive calculator, called the Worth for Women calculator, available at www.worthforwomen.com. This tool allows a woman to measure her real economic value by taking into account her duties in childcare, budget management and housekeeping.

The calculator is part of Penn’s Worth program, which addresses the overlooked women’s market. Women make up 51 percent of the population, hold 45 percent of the nation’s wealth and typically outlive their spouses. At the same time that they hold such influence over their family’s day-to-day budget, they have little confidence in and have done little planning for their own financial futures. However, survey results indicated that women with life insurance tended to feel more confident about the future and those insured for at least as much as their spouses were even more likely to have a positive outlook.

Reveals Penn Mutual vice president Eileen McDonnell, “We launched Worth to help women take charge of their future and recognize their value. The survey clearly validates our beliefs in the value for women in developing a financial plan that includes life insurance as its cornerstone.” The Worth program comprises an interactive new Web site, a newsletter, brochures, a seminar series and other communications initiatives which will allow financial professionals to craft a plan specifically geared to meet the challenges and fulfill the goals of women at every stage of life.

The Worth for Women calculator allows women to more accurately value the contribution they make to American households and to place a monetary value on the services they provide, should they need to be replaced. “At Penn Mutual we have a commitment to life insurance and annuity products that can add a fair value perspective to the real contribution women make to the household and society. As part of Worth, we’re also aiding our network of financial professionals as they consider more holistic approaches to the financial planning they do for women,” said McDonnell.

Women are expected to hold 92 million jobs in the workforce by 2050, yet few women protect their income through life insurance. Those who do, however, report having higher self-esteem, feeling more confident about retirement, believing their opinion to be important, feeling more loved by others and taking better care of themselves.

The study looked at more than 600 women and polled respondents from different income brackets. It included women who hold insurance and those who don’t, women who are married and those who are not and women with children or spouses and those without.