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Monday, June 6, 2011

Life Insurance for Women

Unconfirmed reports suggest that about 15% of the lives covered in India through a life insurance policy are for women. Given the population of women in the work force and thus having an income and thus there being an insurable interest, is the 15% number a fair representation. We are not sure. But it brings us to another question: is there an insurable interest in a housewife with no income. Some people would argue that there is definitely a replacement cost for the work done by a housewife, and thus there is an indirect insurable interest. But how does one take care of malintention- where a policy is taken with the housewife as the insured, but payment made by the husband. Sadly, it opens itself up for a lot of misuse.
As an aside, is there a marketing opportunity in bringing out a policy with special focus on the woman...some companies have done that, but the scale hasnt been impressive.

Comments are welcome!!!


  1. Most women do not have life insurance and this is partly due to the fact that most adverts on insurance are targeted at men. As it is, women need life insurance for the same reasons that men do.

    Some women depend on the insurance policy of their spouse but the sad truth is that most families do not have adequate life insurance coverage.

  2. I am very pleased with the information and don’t feel like adding anything in it.