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In order to avoid falling into financial difficulties in the future, more women need to start taking out financial protection products.
This is the opinion of Iain Mallon, director of marketing protection at AXA Life, who said that females should think about potential future scenarios - such as being unable to work as a result of ill health.
Such situations could put both them and any dependants they may have at risk of debt.
Mr Mallon stated: "I think women have to look at the environment they`re in, the risks associated with not being able to work or potentially dying, [what are the risks] financially and what can they actually afford to protect."
He added that people generally become more willing to consider such scenarios as they get older.
According to a study conducted recently by AXA, eight million working women do not have critical illness cover, life insurance or income protection in place.
