CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Expand Your Business by
Engaging the Women’s Market
PRESENTED BY:
[Speaker Name
Speaker Title]
Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates.
NOT FOR CONSUMER USE.
0291304-00001-00 Ed. 06/2016 Exp. 12/13/2017
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Segments Go Beyond Ethnicity
Sources:
• www.census.gov/quickfacts/table/PS
T045215/00
• U.S. Census 2013 Projections
• U.S. Census Bureau, Current
Population Survey, Annual Social and
Economic Supplement, 2012
• America’s Changing Religious
Landscape, (PDF) (Report). Pew
Research. May 12, 2015. p. 87
Retrieved May 15, 2015.
• Social Security Administration, Office
of the Chief Actuary, as of February
4, 2014.
• U.S. Veterans Affairs Office of the
Actuary, as of September 2013.
1 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Did You Know?
The number of women as primary breadwinners has
____________ in the past 50 years.
A. Doubled
B. Tripled
C. Quadrupled
Source: http://www.nytimes.com/2013/05/30/business/economy/women-as-family-breadwinner-on-the-rise-study-says.html?_r=0
2 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Did You Know?
Women-owned businesses account for
_________ of U.S. GDP.
A. $1 trillion
B. $3 trillion
C. $5 trillion
Source: shriverreport.org. http://ihumanmedia.files.wordpress.com/2014/01/women-chart-2.jpg SOURCE for chart: Heather Boushey and Jeff Chapman’s analysis of
Miriam Kim and others, integrated Public Use Microdata Series, Current Population Survey. Version 2.10 (Minneapolis Minnesota Population Center, 2009) Believed to be
most recent source.
3 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Did You Know?
Women control $11.2 trillion1 of U.S. investible
assets, projected to grow to ________ by 2020.2
A. $15 trillion
B. $20 trillion
C. >$20 trillion
1
2
Investment News 8/18-22, 2014.
“Top Wirehouse Execs Call for Client Service Overhaul” FundFire. April 16, 2014.
4 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
The Women’s Opportunity
WOMEN HAVE
UNIQUE
CHALLENGES
Savings
Longevity
Protection
Prudential’s Financial Experience & Behaviors Among Women Study 2014-2015
5 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
knowledge
Why Do Many Women Feel Less Prepared?
time
conflicts
j
a procrastination
r avoid learn
g
o prioritization
n life care giving
r
i
misunderstood
s
breadwinner
k
responsibilities
challenges
confidence
complexity
Source: 2014-2015 Prudential Research Study: Financial Experience & Behaviors Among Women.
Population with $500K investible assets.
6 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Key Trends Impacting Women’s Finances
Lower Engagement1




Living Longer and
Living Alone
 2 to 1: At 85 and older, the
approximate ratio by which
women outnumbered men in
2013 (4.0 million to 2.0 million)2
 7: Approximate number of years
by which women outlive men3
Time starved, Cash strapped
Find finances complex
Do not like jargon
Short-term orientation
Wage and Income Gap
WOMEN &
FINANCIAL
WELLNESS
 $0.78: Amount that female
workers earned for every dollar
earned by male workers4
 $39,157: Median annual
earnings for women vs. $50,033
for men4
Financial Wellness
Outcomes
 12: Average years women are
out of the workforce3
 Under-funded retirement and
insurance
 1 in 2 pre-retiree women have
no retirement strategy5
1. Prudential’s
Financial Experience & Behaviors Among Women Study 2014-2015; 2. US Census Bureau 2015; 3. Prudential’s Total Market Strategy White Paper 2014;
data for 15 or older, year-round, full time US workers; US Department of Labor, Bureau of Labor Statistics, Women in the Labor Force: A Databook, Dec. 2013;
5. Emling, Shelley.“Women’s Retirement Planning Woefully Inadequate, Study Find” The Huffington Post, Mar 26, 2013
4. 2013
7 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Engaging Women
A recent research survey of women identified common themes from the responses
of participants. Generally, the survey found the following:
Source: 2014 Prudential and Immersyve Qualitative Research.
8 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Connecting with Women







Take a collaborative approach opposed to authoritative
Help her better understand the importance of both
short-term and longer-term financial strategies—
without the jargon
Make getting started inspiring, relevant and actionable
Present solutions in the context of her intrinsic-focused
life goals first
Build a roadmap and plan that she can track and
manage
Keep the conversations going and stay connected
Partner with [Prudential/your RVPs/your carriers]
9 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
The Role of Life Insurance in Women’s Lives




Provides funds for a woman’s loved ones if she dies.
Helps surviving spouses pay for child care,
transportation, housekeeping, etc.
Helps protect women-owned businesses.
Offers benefits to women while still living.
10 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
The Impact of Chronic Illness
 The projected average
lifetime out-of-pocket costs
for women turning 65 in
2015–2019 who need
chronic-illness care is
$80,500.1
 The average 65-year-old
woman will need 3.7 years
of chronic-illness care later
in life.2
 Families are the major
An insurance policy
with an accelerated
death benefit rider
triggered by chronic
or terminal illness can
provide additional
funds during a
difficult time.
provider of chronic-illness
care for their older loved
ones.3
1Favreault
M., et al. Long-Term Services and Supports for Older Americans: Risks and Financing. ASPS Issue Brief. Department of Health and Human Services. July 2015.
Tables A2, A4, A6 p. 14-15.
2U.S. Department of Health and Human Services. How Much Care Will You Need? http://longtermcare.gov/the-basics/how-much-care-will-you-need/. Accessed March 26, 2015.
3Caregiving. Department of Health and Human Resources. http://www.eldercare.gov/eldercare.net/public/resources/topic/Caregiver.aspx(accessed October 19, 2015).
11 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
BenefitAccess Rider (BAR)
Life Insurance with BenefitsAccess Rider (BAR) can provide
funds that women can use to:*





Pay for medical care.
Take a trip with loved ones.
Pay debts.
Choose where she wants to live or receive care.
Help relieve the family of financial pressures.
*Must qualify under the terms and conditions of the rider.
12 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
What’s Next
Let’s keep the
conversation
going.
13 NOT FOR CONSUMER USE.
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Question & Answer
QA
14 NOT FOR CONSUMER USE.
CREATED EXCLUSIVELY FOR FINANCIAL PROFESSIONALS
Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates.
The BenefitAccess Rider is an optional rider for chronic or terminal Illness that accelerates the life insurance death benefit. It is not
Long-Term Care (LTC) insurance. Benefits received under the rider will reduce and may deplete the death benefit. Electing the
BenefitAccess Rider results in an additional charge and underwriting requirements. Some benefit payments may be subject to a fee.
Other terms and conditions apply. Clients should consult their tax and legal advisors.
For New York contracts. Please also note the rider is not subject to the minimum requirements of New York Law, does not qualify for
the New York State Long-Term Partnership Program and is not a Medicare supplement policy. In addition, receiving accelerated
death benefits may affect clients' eligibility for public assistance programs and such benefits may be taxable.
15 NOT FOR CONSUMER USE.
0291304-00001-00 Exp. 11/24/2017