Did You Know Series? Part 1 Answers

Happy Monday Ladies,

I hope you all had a fantastic weekend.  Mine was absolutely AMAZING!  On Saturday, I had the opportunity to participate in an event that is so near and dear to my heart called Beat The Beates!  It is a non-profit organization that was formed by the friend of an individual who died from Type 1 Diabetes.  Since I am a fellow Diabetic Warrior (I’m actually pre-diabetic now), I always love to network and educate this community.  One of the highlights of the day was when I had the opportunity to meet a star!  I met our very own Women Supporting Women founder, Shameeka’s granddaughter, Gigi!  What a beautiful little soul!  Once I told her I knew her grandmother and her Dad said it was ok for her to come to me, she ran over and gave me the biggest hug!  A beautiful young Queen in the making.  That evening, I went to my 30th High School reunion.  Needless to say, I had a blast!!!!  I am so blessed to still be here to enjoy it!

Last week, we were introduced to the first part of the”Did You Know” series. I hope you had the opportunity to answer the questions I posted last week.  It is a financial knowledge/assessment, check in.  Sometimes completing exercises such as these can help you get on the right track if you feel you are not financially where you want to be.

The answers are in red below.

1. How much revenue do women-owned businesses generate? 1.6 trillion
2. What is the average age of a widow in the United States? 59.4

3.67 % of women place more value on life insurance than men.
4.49% of adult women say they need more life insurance coverage.

5. 1 in 5 women would leave their advisors if they became widowed or divorced.
6. 43% adult women have no life insurance.

7. Women account for 22% of the total affiliated field force in the insurance industry.
8. What does PANK stand for? Professional Aunt, No Kids

9. What does DINK stand for? Dual Income, No Kids
10. The average life expectancy for a female in the United States is 81.2

What your score means
For more information on life insurance and financial strategies, contact:
1–3 right. Time to check your finances. Call your insurance agent today.
4–6 right. It wouldn’t hurt to reevaluate your insurance needs. Contact your insurance agent today.
7–9 right. Knowledge is great, but action is power! Set an appointment with your insurance agent today.
All 10 right. Become even more knowledgeable about insurance and financial products.

Resources

  1. American Express, “The 2016 State of Women-Owned Businesses Report,“ 2016
  2. U.S. Census Bureau, “Number, Timing, and Duration of Marriages and Divorces,” 2011. http://www.census.gov/prod/2011pubs/p70125.pdf
  3. LIMRA, “2016 Insurance Barometer Study”
  4. “Women Still Lag Men in Life Insurance Ownership”, November 2016. http://www.limra.com/posts/pr/news_releases/ limra_women_still_lag_men_in_life_insurance_ownership.aspx
  5. LIMRA, ”Most Women Will Remain Loyal to Their Advisors,” 2017
  6. “You’ve Come a Long Way…But Do You Have Enough Life Insurance? Celebrate Women’s History Month by Financially Protecting Your Family,” Insurance Information Institute, March 2015. http://www.iii.org/press-release/youve-come-a-long-waybut-do-you-have-enough-life-insurance-celebrate-womenshistory-month-by-financially-protecting-your-family-030515
  7. https://www.limra.com/posts/marketfacts/_pdf/2016/number1-2016-whatwomenwantinafinancialservicescareer.aspx
  8. http://savvyauntie.com/About aspxGroupId=389&Name=PANK:%20Professional%20Aunt%20 No%20Kids
  9. Investopedia, http://www.investopedia.com/terms/d/dinks.asp
  10. CDC/National Center for Health Statistics, Life expectancy at birth, at age 65, and at age 75, by sex, race, and Hispanic origin, January 20, 2015, http://www.cdc.gov/nchs/fastats/life-expectancy.htm

Next Up: Did you know….Personal Finances

As always, thank you for reading!

Have a beautiful and blessed week!
Marsha

Changing the lives in our community….one family at a time

 

 

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