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!!!
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!!!
