MetLife Launches New Group Life Promotion

While more than half of surviving spouses who received 3 or more years of income in benefits felt financially secure the year following their loss, fewer than one-third of those who received lesser amounts felt financially secure, MetLife found. Only 11% of widows and widowers who received no life insurance benefits felt financially secure the following year, according to the report.

The white paper also found that women participate in group life insurance programs at lower rates than male employees. Working women who do have insurance generally have coverage for only about 2 years’ worth of their salary, compared to an average of 3 years’ worth for working men.

In either case, these amounts are considered insufficient in most cases, regardless of gender, MetLife observes.