Women who plan their financial future and own life insurance increase their self-worth, according to a national survey conducted for Penn Mutual Life Insurance.

Women make up 51% of the population and 43% of America’s wealth, according to Penn Mutual, based in Horsham, Pa.  They earn $2.4 trillion annually and are expected to hold 92 million jobs by 2050.  Yet Penn Mutual’s survey of 600 women shows that most are not confident about their financial future nor have planned for it.

The month-long tracking survey revealed that women who do have a financial plan and life insurance have higher self-esteem, feel more confident about retirement, believe their opinion is important, and take good care of themselves.  Women who are insured for the same amount as their spouses are even more likely to have a positive outlook.

In response to the survey results, Penn Mutual created a Worth for Women calculator to measure a woman’s economic value, including things such as childcare and homemaking.