Underwriting uncertainty prevents women and younger adults from securing life insurance

Women, Millennials, and Gen X are the most likely to be deterred from securing life insurance by confusion over underwriting and pricing. Over half of the respondents in a study of 2,000 adults found that 51% would feel frustrated if an initial quote increased after answering detailed underwriting questions. This sentiment was stronger among women, with 55% expressing frustration compared to 47% of men. Women were also more likely to cite cost as a barrier, with 34% saying life insurance is too expensive compared to 30% of men. Across the UK population, 61% of adults reported at least one obstacle to taking out cover. This uncertainty about what influences the final price leads consumers to delay or abandon the application process. Women, Millennials, and Gen X lack life insurance protection.