Working women may be more honest than working men about how little they know about their life insurance coverage and their life insurance needs.
The MetLife unit of MetLife Inc., New York (NYSE:MET), commissioned a firm to conduct telephone surveys of 500 employed U.S. adults who have life insurance earlier this summer.
About 12% of the men interviewed and 21% of the women admitted that they have no idea how much coverage they have.
But MetLife found that men and women had similar views about coverage needs.
What Your Peers Are Reading
The conventional wisdom is that workers need enough life insurance to cover outstanding debt plus 5 years of salary.
About 54% of the women interviewed and 47% of the men said enough insurance to cover outstanding debt plus 3 years of salary ought to be enough.
In other insurance data news:
- Unum Group Corp., Chattanooga, Tenn. (NYSE:UNM), suggests that employers might want to try to use the 2012 benefits open enrollment season communications and benefits offerings to improve employee morale.