Calculator allows a woman to measure her economic value
Penn Mutual Life Insurance has conducted a survey on women who plan their financial future, including owning a life insurance. Based on the results, the company has introduced a Worth for Women calculator accessible at www.worthforwomen.com.
The Worth for Women calculator is expected to allow a woman to measure her economic value, including measurements like childcare, budget management and homemaking. It also allows women to value the creativity, skill, discipline and time they bring to American households, and to build a financial plan that accounts for those services.
The Penn Mutual proprietary survey data showed that women who have life insurance differed substantially from the norm, and that women insured for the same amount as their spouses were even more likely to have a positive outlook.
Eileen McDonnell, executive vice president and chief marketing officer, Penn Mutual, said: “We would urge all women to go to the website, and use our Worth calculator as a first step in getting a true financial evaluation of their own worth. But most important, we believe that they should seek financial planning help from a financial professional who is knowledgeable about the long-term needs and goals unique to women.”