Dual income households

November 19, 2013

Some interesting reading below from Friends First.

If dual incomes are needed to sustain the household – why aren’t people protecting both incomes?

There are around 975,000 women currently active in Ireland’s labour market and according to statistics from the ESRI, women are increasingly likely to have the advantage. The woman has higher educational qualifications than the man in 34% of couples of mean age 26-40 years, compared to just 18% where the opposite holds. Even more strikingly, in 42% of these younger couples the woman has the higher occupational classification – making it crucial for women to take steps to protect their income as well as that of their male partner.

Many households need joint incomes to manage their current standard of living and following the EU Gender Directive in December 2012, the cost of Income Protection for working women has dropped considerably, making this a great time for women to consider Income Protection.

More Women are claiming on Income Protection than ever before.

Friends First claimant research has shown that more women are claiming now than ever before. (59% female vs. 41%male) and even more surprisingly between the ages of 35-45.

Mental health disorders are the most common cause of Income Protection claims at Friends First. Depression is the most prevalent women’s mental health problem and could be more persistent in women than men.

In Ireland, an average of**30,000 new cases of cancer are diagnosed each year. The number is expected to rise to over 40,000 per year by 2020. More women are surviving breast cancer than ever before, but could be faced with prolonged periods off work for treatment or recovery.

Women have unique health issues. And some of the health issues that affect both men and women can affect women differently. For example,

  • *Women are more likely to die following a heart attack than men
  • *Women are more likely to show signs of depression and anxiety than men
  • *Osteoarthritis affects more women than men

 

*Source: NIH: National Institute of Child Health and Human Development
http://www.esri.ie/news_events/latest_press_releases/households_and_family_str/
**Source
www.cancer.ie Nov. 2013