The consumer insights team at the Minneapolis-based Allianz SE unit commissioned a survey update in October.
About 64% of the divorced participants said their divorce had caused a financial crisis. That was up from 48% in 2012, when Allianz Life commissioned a similar survey.
The survey samples included women ages 25 to 75 with at least $30,000 in household income.
Allianz Life is a major player in the annuity market as well as in the life insurance market, and the company found signs that divorced women may be interested in hearing retirement planning ideas.
About 50% of the divorced women who participated in the new survey listed “running out of money in retirement” as their top financial concern.
Just 40% of the widowed women who participated said running out of money in retirement is their biggest financial worry.
About 13% of the women in the Allianz Life survey samples were divorced.
One way insurance agents and financial advisors can reach people who are getting divorced is by using social media to provide basic information about how to get through the divorce process.
In 2015, for example, Allianz Life published “Important Issues to Consider During a Divorce.” The web-based pamphlet includes a list of documents a divorcing spouse might want to have at hand, including obvious items, such as payroll stubs, and less obvious items, such as health savings account statements and lists of club memberships.
— Read Capturing the Millennial Middle Market With Smart Analytics on ThinkAdvisor.