UPDATED: Feb 25, 2020
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According to a recent survey conducted by Allstate, many women realize they will likely spend a portion of their retirements alone, due to divorce or the likelihood they will outlive their spouses.
- 48 percent of women state they have considered the financial implications of retiring alone.
- 37 of women state they are currently preparing for retirement separately from their spouse or partner.
- 49 percent of women state they invest money on their own and 42 percent have a separate savings account.
Of the women preparing for their retirement, 84 percent stated they are doing so by ensuring their spouse or partner has adequate life insurance. It is encouraging to see such a large number of women who understand the important role life insurance can play in a sound retirement plan. Life insurance proceeds can help pay for increasing medical care costs, daily living expenses, and recreational activities.