woman insurance decisions

Why women need to buy insurance in India

What do you think? Are women better than men in money management? Trust me, nowadays, women are leading the banking and finance sector. You will believe this if I give you statistics that 4 out of 5 banks in India are led by women. Moreover, Forbes issued the list of most powerful women in world, where Arundhati Bhattacharya ranked 25th who is the chairman (chairwoman) of India’s biggest public sector bank.

In India, women are scared to invest on their own self. Most of the women love to manage their day-to-day budgeting but they lack confidence while discussing money with family. For instance, tv commercials revolve around only women. The mosquito ads, the toothpaste ads, soap ads, all seems only woman’s concern. What men do is to earn and purchase life insurance for wife to achieve the goals.

The facts said women are more prone to health diseases than men. Thus, health insurance is likely to be provided to each woman but women in India have tendency to procrastinate when it comes to making financial decisions.

However, these health insurance plans are not very popular among ladies. Women are mostly covered in plans like family floaters where the main policyholder is held by husband. According to facts, there’s a rare chance that a woman decides to have health insurance only when she is a single mother or divorced.

If a woman works then she gets insurance coverage from her respective company. And when she lives at home and finds a suitable match then her parents leave the health expenses on her husband.

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Talking about life insurance is directly related to the income and age of the policyholder. Thus, a woman who is homemaker won’t get life insurance. It is because a housewife has low human life value in comparison with her financial contribution to the family.

The major problem is, women don’t really participate when it comes to money matters. They leave everything to her husband. Even the tv commercials portray men as the breadwinner in their commercials.

A general perception about women and investing.

However, some women have a different opinion on it. They say every woman should buy life insurance for herself. Insurance has nothing to do with marital status. If you are an earner, then you should go for a term plan.

You should do this because the health policies provided by employers are not tailor-made. Sometimes relying on the group plans can be harmful. What you have to do is to go for a better customized med claim plans that fulfill your need.

Women should start focusing on themselves because they run the family in many ways. The health issues of women are different as compared to men and they do need special attention. It is very sad to say but a few women are giving importance to their own health.

And majority of their lives, they remain ignored, busy, or dependent playing hide and seek with their jobs work at office and family at her home.

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