Achieving financial security is an uphill battle for many Americans. It can be especially daunting for American women. And the challenge has only gotten tougher due to the coronavirus pandemic.
Women hold two-thirds of the nation’s student loan debt. They make less money than men in the workplace. And they bear a disproportionate share of caregiving responsibilities, which can be devastating to their long-term financial security. Indeed, women who step away from their career to care for a family member lose $300,000 in wages over a lifetime.
We need a coordinated effort by business and government to ensure women get an equal footing on the road to financial security. You can read more about this in an article I wrote for the Bipartisan Beat blog for Engage, a Washington D.C. public policy organization. The life insurance industry strongly supports Engage’s mission to provide all American women, regardless of race, religion, or gender identity, with the keys to lifelong economic security.