Jessie Banuelos

Women Drive Insurance Decisions
Women now make 85% of household insurance purchase decisions and control 75% of overall discretionary spending.
Spending on premiums among women is forecast to reach $1.7T by 2030, reflecting growing financial influence.
Education and earnings context: 2024 bachelor’s+ rates 40.1% women vs 37.1% men; women earn ~81–85 cents per dollar.
Insurance differences: auto claims tend to be fewer and less severe, yet some states’ pricing can mean higher premiums.
Insurers may need tweaks: avoid male-head assumptions, offer tailored products, and add more women agents and leaders.
I’m seeing women play a bigger role in household insurance choices, with distinct preferences and risk behaviors. Insurers that adjust messaging, personalization, and representation can better serve this growing customer base.

Women and Finance: Key Insights for Insurance Pros

Many experts favor the 4% rule: withdraw 4% initially, then adjust future withdrawals for inflation.
Withdrawal rate can vary based on retirement age: later retirement may allow more, early retirement less.
Spending needs matter: with $3M saved, 4% equals $120K, but you might only need $90K.
Portfolio mix affects flexibility: conservative investing limits withdrawals; >50% stocks may support ~4% or higher.
Estate goals and changing needs can shift strategy, especially if you want to leave IRA or 401(k) inheritance.
I’m seeing more focus on building a flexible first-year retirement withdrawal plan. The right approach depends on age, spending, investments, and inheritance goals, and it can be adjusted as priorities change.