We've all heard about the gender pay gap. But now it seems there may be a gender gap in life insurance coverage.

Women with children under the age of 18 are not financially valuing their lives as highly as men when selecting life insurance, according to a survey released today by online life insurance agency Haven Life.

"While women and men equally believe that their death would have a 'substantial' impact on their family, women are not purchasing life insurance as frequently as men, nor do they -- or would they -- buy as much," the survey report said.

Women in the survey who had an individual life insurance policy had an average coverage amount of $231,342, compared with $423,102 for men.

Among respondents who did not have life insurance, women estimated they would purchase coverage of $175,423, while men put their value at an average of $355,348.

The gender gap exists despite the fact that a majority of women (79%) and men (78%) said their deaths would have a substantial impact on their families' quality of life, the report said.

Sixty-seven percent of women surveyed said they have life insurance, compared with 79% of men.

The report noted that the gender pay gap could be an underlying factor in how men and women value their lives for life insurance.

The survey found that 79% of men identify themselves the primary earner, compared with 37% of women. The average income for all women respondents was $52,484, compared with $72,482 for men.

In 2018, women earned 85% of what men earned, the report said, citing analysis by the Pew Research Center.

"Overall, the survey results show that there is a life insurance gender gap," the report said. "Women are not valuing their lives as greatly as men when it comes to life insurance coverage, despite the belief that the death of either partner would have a substantial effect on family life."