11m women are exhausted due to added pressures of the pandemic

Research from protection specialist LV= reveals how the coronavirus pandemic is impacting the nation’s mental health. 

The latest findings in the LV= Wealth and Wellbeing Monitor indicate that:

Women’s mental health has been affected more than men’s by the Covid-19 crisis

  • 41% (11m) of women admitted that they feel exhausted, compared to 24% (6m) of men.
  • Over half of women (56%) were feeling stressed or anxious, compared to a third of men (35%).

Women’s mental health has continued to worsen throughout the pandemic

  • Between September 2020 and March 2021, the proportion of women feeling stressed increased by 5% to 56%. 
  • The number of women feeling exhausted rose by 9% in the same period and 6% more women surveyed were feeling lonely and isolated.

Women are more worried about money and about contracting Coronavirus 

  • 35% of women say they are worried about money, compared to 25% of men.  The proportion of women worried about money increased by 6% between Sept 2020 and March 2021. 
  • Overall concern about getting coronavirus has dropped from 32% in December to 23% in March. Women are more worried than men about getting the virus (27% of women vs. 19% of men), despite the lower risk compared to men.

Debbie Kennedy, Protection Director at LV=, said:

“More people than ever are experiencing emotional pressures triggered by the uncertainty of the virus. Women have tackled the stresses of extended lockdowns, juggling parenting and caring responsibilities with working from home. Those who are self-employed or work in the retail and hospitality sectors have felt the burden of supporting families on reduced incomes. Over a quarter of women surveyed (28%) admitted that their finances have worsened over the last three months.

“The impact of national lockdowns and social distancing has affected the health of millions, with nearly one in three (31%) feeling lonely and isolated. These concerns are taking its toll on the public and we should be doing more collectively to look after our mental health.”

The ABI Mental Health Standards reflects an industry-wide effort to ensure that applicants get the right cover that they need. We must continue to provide our most vulnerable customers with increased access to insurance and support, ensuring that the right mix of services are accessible to women.”

In April, the ABI launched a CII accredited e-learning module on mental health in collaboration with Rightsteps to improve knowledge and understanding within the insurance industry.

LV= provides a range of services for members including:
 
LV= Doctor Services (included as standard on all protection policies) gives access to six expert medical services, all available through a convenient app including: — Remote GP 24/7 – appointments around the clock for every day health concerns through to serious conditions.
 
Remote Psychological Services is also included, giving LV= members access to remote sessions with a qualified professional via the app. They can help on a range of issues such as depression, anxiety and other mental health disorders. From January to March 2021, 87% of users referred for mental health services were women, compared to 25% in the same period last year.
 
LV= Member Care Line (included as standard on all protection policies) provides free and unlimited access to a 24/7 Member Care Line, including health and counselling services. This is operated by qualified professionals who can provide expert support and guidance when it's needed most. This could include advice on their medical condition, coping with the loss of a loved one or coming to terms with their medical diagnosis.
 
LV= Member Counselling Line provides free day-to-day support for dependants age 16-23, while a  Legal Advice Line can provides free and confidential legal advice on a range of personal legal matters such as those relating to employment, consumer contracts, property issues, motoring, landlord and tenant, family and wills and probate.

For further information please contact:

David Gwyer
Media Relations Manager – Life and Pensions
07798 796907
Candice South
Press Officer, Life & Pensions
07867 141547

About LV=

LV= is a leading financial mutual and serves over 1.3 million members with a range of financial products. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products. We offer our services direct to consumers, as well as through IFAs. 

LV= Doctor Services, LV= Member Care Line and LV= Counselling Line are provided by third party companies. These services are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority. They are non-contractual benefits and can be changed or withdrawn by LV= at any time.

LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria group of companies. Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF. 01202 292333