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In previous issues of Dynamic I have discussed a number of financial challenges faced by women. However, the good news is many organisations are championing – and influencing – change! And in my latest article, I wanted to talk about a brilliant programme that aims to reinvent insurance and personal finance for women, helping us plan for a more secure financial future.

Did you know that women’s use of financial protection is limited compared to our male counterparts? This is often due to us experiencing different financial ‘risks’ throughout our lives, for example, the implications of becoming a mother.

To tackle this disparity, the Chartered Insurance Institute (CII) has established the Insuring Women’s Futures programme, bringing together 150 financial services and insurance professionals, businesses and policy organisations with the goal of providing women with insurance solutions that work for us.

The programme focusses on the “6 Moments that Matter” – pivotal points in life with heightened risk exposure for women. I’m sure at least one of these will ring true for you!

1. Growing up, studying and re-qualifying
2. Entering and re-entering the workplace
3. Relationships: making up and breaking up
4. Motherhood and becoming a carer
5. Later life, planning and entering retirement
6. Ill-health, infirmity and dying.

Insuring Women’s Futures has identified specific ‘Perils and Pitfalls’ for each Moment – for example, if a woman puts her career on hold due to becoming a mother, this can result in a cost to earnings, savings and pensions provision. The programme also highlights issues such as the gender pensions gap – which I’ve discussed previously.

The Moments that Matter are discussed in detail in the report, ‘Securing the financial future of the next generation’. I would strongly recommend that you read it and use it to help you plan the financial future you desire: 

It’s wonderful to see key institutions lobby for equality – and the Insuring Women’s Futures programme makes me even prouder to be a Chartered member of the CII.

It’s clear that change is coming – as Money Box presenter Paul Lewis commented in the above report: “I am confident that the industry that has insured against death and fire for centuries can find a way to insure people going through divorce [and] to help people to have both a baby and a pension...”.

But, while insurance and financial services firms have a vital role to play, it’s also up to women to feel empowered to discuss their finances and long-term plans. So, ladies – let’s get talking!

Contact me today
Wherever you are on your financial journey, it is important that you’re getting the right advice. If you have a question about planning for a secure future or would like more information about my services, please contact me today.

Samantha Kaye
Chartered Financial Planner/Adviser
Wellesley House, 50 Victoria Road, Burgess Hill, West Sussex RH15 9LH
01444 849809 

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