women insurance policy

Chapter: 1

Introduction

There are customized insurance policies for women, whether they

are working, working from or at home or are housewives. Over the ages,

traditionally, women have been home makers in India. The scenario has

changed drastically in recent times. The Indian woman's transition from

home maker to bread winner has been phenomenal. Moreover, they have

taken a march over their male counterparts by juggling with style

multidimensional roles - professional, home-maker, mother, and financial

planner...

With this in mind, women's life insurance came up.

In this country, in the early years of the insurance industry, the

trend was to insure only male lives. The logic was that the female of the

species was home-bound anyway, wasn't exposed to any risk, and

consequently didn't need any sort of insurance. The bread winner was the

male and it was against his lost income that cover was required. A major

additional disincentive was the extra risk to female lives that was an

inevitable part of the childbirth process.

All that has changed with women rivaling men at the workplace

(and frequently doing a better job than them). In addition, better

education for the female child, increased economic contribution by

women, better medical facilities for safer childbirth and post-natal care

have all contributed to more and more insurance products that are

women-specific.

Chapter: 2

Women insurance Policy

VARIOUS STAGES IN LIFE OF WOMEN AND NEED OF

INSURANCE

This is the time to enjoy life full size and pursue dreams with no

worries, no huge financial liability. You are thinking clearly about your

future, marriage, kids etc.

Financial planning holds the utmost importance whether you are

working or not. Life insurance will provide you the required financial

protection with provision for your loved ones in case of sudden untoward

event.

Need Analysis:

• Financial security

• Savings for that first car on holding trip.

• Health protection.

• Comfortable post retirement life.

• Securing your loving parents


You may a choose combination of below mentioned plans depending on

your priorities.

Long term endowment/Investment plan with additional cover

through riders- for your saving & financial security. Money back

available to take care of planned expenses.

Terms plans for covering your personal / home loan- financial

security not to let your loved ones feel the burden of loan in case of

any event.

Retirement plan – comfortable post Retirement life. Planning at

early age helps in getting a best deal.

Health plan to take care of unfortunate medical emergencies. Who

also have additional riders like Critical illness and Hospital Cash,

which can be taken along with regular life insurance policy.

Market linked endowment plan for your parent’s future- little

gesture to your parent for all their contribution in progress in life.

You may decide to take a plan for your parents for a peaceful

retired life.

2.1 Just Married


The excitement of weddings is over, time to settle down. You’ll be

sharing your hopes and dreams, a home and, just as important, your

finances. Sharing the financial responsibilities can be tricky with

differences in financial outlook between you and your spouse.

Life insurance will provide you the adequate financial fulfillment you

need with it the protection to your loved ones in case of sudden untoward

event.

Need Analysis:

Health protection

Savings for that first car on holding trip

Financial security

Comfortable post retirement life.

Securing your loving parents.

Suitable life insurance plans:




Terms plans for covering your personal / home loan- financial

security not to let your loved ones feel the burden of loan in case of

any event


Long term endowment/Investment plan with additional cover

through riders- for your saving & financial security. Money back

available to take care of planned expenses.

Retirement plan – comfortable post Retirement life. Planning at

early age helps in getting a best deal.

2.2 Married with Kid

You are a proud mother. you have planned everything for your

child from diapers to schooling in the city, career path, etc. you want to

protect them and provide them with best possible opportunities for them

to grow any untoward risks that could affect you and your family.

Life insurance will provide you and your kids the adequate

financial resources you need with it the protection to your ones in case of

sudden untoward event.

Need analysis:

Savings

Secure financial Net for the child to pursue her career dreams be it

higher education

Health protection for you and your child.


You may a choose combination of below mentioned plans depending on

your priorities.

Career Launcher plans will be ideal in ensuring complete financial

security to your

Kids and providing risk cover to both you and your loved ones.




2.3 Retired and dare to dream

The golden years are here. All the departed years you have worked

for your family. Now is the time to pamper yourself. You are looking

forward to enjoying a peaceful and comfortable retirement. You have

successfully negotiated with all the problems, responsibilities life has to

offer. Financial security still holds the prime importance and key to enjoy

the retirement years. Life insurance with retirement benefits enables you

to realize all your post retirement dreams and provide stable financial net.

Need Analysis:

Guaranteed Stable Source of income to enjoy the golden years.


You may choose combination of below mentioned plans depending

on your priorities.

Suitable Life Insurance plans:

Immediate annuity plans with wide range of annuity options.

Deferred annuity plans with or without life cover.

2.4 Women need term life insurance some time more that

men’s

Term life insurance serves beneficiaries in countless ways. It

protects families in the event the breadwinner dies. It used to fund college

education expenses, to pay off mortgages, to pay for the burial of the

deceased, to pay probate and attorney's fees. It provides sufficient income

so that a family can maintain their same standard of living. Term life does

all this but the big question is why most of it bought by men is?

Women need life insurance too. In today's world women are

making as much a contribution to the family expenses as men. In fact in

many a case their contribution is significantly more. Will the above


financial responsibilities still have to be met if the wife dies or will they

go away with her? When a woman's income is no longer there will the

surviving husband’s income be sufficient to maintain the family on the

same level or will they have to change their lifestyle somewhat? What

about that emergency fund that both husband and wife thought

necessary...will it still be there?

What about the myriad of things the wife takes care of in the home

even though she has a job outside of the home? The value of her

contribution is beyond comprehension. What about a full time home

maker...can her value be measured? It used to be that a man decided on

his life insurance to protect his family and he would add a small policy on

the wife to his portfolio. That was such a thoughtless and misguided

approach.

The women have now taken over the responsibility of researching

and purchasing their own life insurance policies and...In some cases the

portfolio of the entire family. Their choice of policy in many a case is

term life insurance.

Women have become more aware that upon their death it may be

difficult for the husband by himself to maintain the same standard of

living for the family. They want to be assured that the children can live in

the same house and go to the same school. They want to make certain that

the fund for college is secure and available when the children are ready

for higher education. A 20 year term insurance policy is a very popular

choice to cover these needs. In some cases a 25 year or a 30 year term

insurance policy is used.

In many a case women are heads of households. The life of a single

parent can be a very difficult one. All the responsibilities of the family


fall upon her shoulders. Single parents buy term life insurance because

they do not want to leave their children destitute when they die. Even if a

goodhearted relative will take care of the children it will cost money. Life

insurance can certainly provide this money either in a lump sum or in

income form.

People at times live under a misinformed illusion that single

women without children need no life insurance. Nothing could be further

from the truth. Single women are buying their own homes today and in

some cases may even have elderly parents live with them. The need for

life insurance is still there. You will buy insurance because you want a

loved one to have a house free and clear when you die. A good

decreasing term policy could take care of that.

If elderly parents live with you it may be necessary to provide

some sort of income for them. Of course there are the inevitable costs of

dying...the funeral costs, attorney’s fees and probate fees. What about

future needs for life insurance? Is it not better to buy the policy while you

are young and the premiums are very low than wait until later and pay a

much higher premium...if you can qualify for it. Women do need term life

insurance because of their immeasurable human life value. In many a

case they need more than men.

Chapter: 3

Categories of insurance policies

There are various types of insurance policies. Some of them

concentrate on human life and health while some focus of the personal


belongings of a person. The terms and conditions of insurance plans are

different from each other. Some of the common insurance policies and

their details are mentioned below:

1. Life insurance policy details: Life insurance covers the life of the

policyholder. There are two types of life insurance plans:

2. Term life insurance policy: If the life insurance cover provides

coverage for a certain period of time, then it is called term

insurance. There are three factors to consider before taking up a

term life insurance: monthly premium, duration of the cover, and

face amount.

3. Permanent life insurance policy: This policy covers the

policyholder unless he fails to pay off the monthly insurance. There

are four types of permanent live cover, such as universal, whole

life, endowment, and limited pay.

4. Health insurance policy details: Health insurance covers a person

for any accident or medical condition. If the person is insured

under a health insurance, the insurance company pays his medical

chares including hospitalization and specialist fees. Health

insurance can be for individual as well as family. An individual

health insurance policy cover only one person while a family plan

cover the entire family under one cover.

3.1 Life insurance for women


In life insurance terms, women are broadly divided into three categories:

Working women Women with income by way of interest, dividend, rent, etc., that

are taxable Housewives/home-makers who (in purely technical terms) do not

have an income

The first two categories are no different from their male counterparts i.e. they are treated on par with them for insurance purposes. A housewife, on the other hand, has her insurability tied to adequate life insurance cover for her husband as well as his income. For instance, a housewife's life insurance cover cannot exceed her husband's.

Apart from this caveat, all basic covers such as life, personal accident, mediclaim, critical illness etc. form a part of women's life insurance policies too.

There are also some special covers afforded in women's life insurance policies that include:

Cover for certain female critical illnesses Occurrence of certain congenital disabilities in new-borns Cradle care - covers the newly born child's defects, deformity,

malformation, congenital abnormality of any kind at time of delivery

Now move towards the exclusions to the above-mentioned special covers:

Post delivery complications


Still-born child Death of the mother during childbirth Miscarriage, infanticide Any defect that is not congenital Malfunctioning of any organ (as opposed to malformation) Any defect, which manifests itself after 200 days of the delivery

Most of these policies are benefit-only policies i.e., they come to effect on the specified event happening. Another important point - most pre-natal and birth-related policies have to be taken not later than the 20th week of pregnancy.

Womankind carries the future of the race, literally. They can never be thanked enough for the commitment, pain, and dedication they bring to their various avatars as home-maker, mother, wife, and professional. Having said that, these insurance policies can go a fair bit in reducing the monetary impact of the loss of the woman in a home

3.2 Term Life Insurance for Women

In today's world, both men and women may contribute substantially to the family's income. While it has become common practice for men to obtain life insurance to financially secure their dependents in the case of an untimely death, many women have yet to make the purchase of life insurance for themselves.

Why Should Women Purchase Insurance?

1. Women can contribute an essential part of the family income, which would disappear in case of death, resulting in decreased family income.

2. Single mothers may have financially dependent children. Insurance could help provide financial security and debt coverage in the case of untimely death.

3. In-home caregivers (of children or elderly parents) contribute economically to the family. Life insurance coverage may be necessary to help ensure that children continue to receive quality


childcare and that elderly parents continue to receive competent care in the case of an untimely death of this care-giver.

Term life insurance for women offers a way for women to help protect their loved ones. We can give you the information you need and find affordable life insurance that fits your needs. Our licensed life insurance agents listen to you, and then recommend appropriate life insurance coverage options for you, whatever it is. Wherever life's journey takes you, we'll be there to help.

3.3 Health Insurance for Women

Women are equally vulnerable to illness and accidents as men.

They have to take care of their families, children, and career

simultaneously. Health insurance is a basic need for today's women.

Compared to earlier days, when they are covered under their husband's

policy, now they can have their own insurance policy.

Fee-for-service health insurance:

The fee-for-service health insurance for women is feasible option for

those women, who consult their doctor very frequently. Every time they

visit a doctor, the insurance company pays off the fees, followed by an


official claim. However, the policyholder needs to pay the deductible

amount before any payments from the insurance company's end.

Managed care health insurance:

Managed care health insurance for women gives the policyholder the

opportunity to access a particular set of hospitals, doctors, and other

medical professionals. There are three kinds of managed care health

insurance:

Health Maintenance Organizations (HMOs):

These organizations offer health benefits in exchange of monthly

premium. These fees have to be paid every month, no matter if you do not

use the services.

Preferred Provider Organizations (PPOs):

These organizations offer more services, compared to the Health

Maintenance Organizations.

Affordable Women Health Insurance Plan

Women are paying more for health insurance than men even

though the coverage is identical. Not only do women have to be

concerned that their average pay is only 77% of their male counterparts,

they also have to be concerned about why the difference in health

insurance costs is not so small. The size and prevalence of these

disparities are extremely surprise because women are paying hundreds

times more than men a year, as much as 49% more.

The reason state legislation allows insurance companies to set

different rates for men and women are a practice known as “gender

rating.” Gender rating is illegal in 10 states and restricted in 2. The other


remaining states allow gender rating to occur because there is no federal

guideline governing specific amounts health insurance companies can

charge in the individual market. The basis for this “gender rating” is that

women are more expensive to care for than men. Women are more likely

to visit their doctors for their annual screenings and checkups and when

they are feeling ill than men and are more likely to suffer from certain

chronic diseases. Some other factors that force health insurance

companies to charge women more than men is maternity care and

increased incidence of chronic conditions among women. Some women

even hold off on having children because their insurance policies do not

cover maternity care. “Representative Xavier Becerra, Democrat of

California, said that “if men could have kids, such disparities would

probably not exist,” which confirms some of the opinions held with

disparage between female and male health insurance costs.

Healthcare is a top concern for women business owners. You want to make sure that you have affordable health care coverage and benefits. With today’s economy and the rising cost of health insurance, it is hard to find affordable health insurance plans, especially for women. Health policies in India are very complex, and you need to research and understand them well before investing in one. It would be a good idea to visit the sites of the various health insurance companies online to understand what they offer. You could take this one step further by meeting up with the agents of the various insurance companies, who would then advise you on what health policy is available with them and how that can be matched to your requirements.

Below is a list of some of the important points to consider before taking the insurance

Hospitals and physicians that are in the network of the plan you choose


Co-insurance Doctor visit co-pays

Annual deductible

Monthly premiums

Prescription benefits and co-pays

Maximum Coverage

Out of pocket annual maximum

Health Savings Account Qualified Plans

The gap between men and women’s insurance rates may not

decrease as rapidly as we’d like but there are some steps we, as women

can take to make a more affordable health insurance plan:

Increase your deductible: The higher the deductible, the lower the

monthly premium. If you are a healthy woman and only go to the

doctor for preventative care, having a high deductible plan can save

you a lot of money.

Invest in a Health Savings Account (HSA). An HSA combines

high deductible health insurance plans with a tax-favored savings

account. Money in the savings account helps pay the deductible

and money left in the account earns interest and rolls over from

year to year.

Save money on prescription drugs by asking your pharmacist for

the generic alternative. Generic prescription drugs are a lot cheaper

and contain the same active ingredients as the original formulation.

Don’t make unnecessary trips to the emergency room as that is

charted on your Medical records, which is used when your policy

is being underwritten.

Do your regular physical checkups.


If you smoke, this is definitely rated higher when policies are

underwritten. If you say you don’t smoke and have smoke related

problems, you will be ineligible. Quit smoking as soon as possible.

There are free resources online that can help with cessation.

If you are considering having a child, make sure you have

insurance coverage for at least a year or two BEFORE you actually

have children. By doing so you can make sure you are covered for

pregnancy.

Always, be sure to review all policies and compare plans.

Last but not least, stay healthy. By eating healthier and exercising,

you reduce the risk of developing diseases and becoming ill. By

staying healthy you can cut health care costs and save money.

Important issues for Women with consideration of

Health Insurance

Women-Specific Issues

Maternity and Birth Control are two very important issues to

women when choosing a health insurance plan. You should make sure,

when choosing a plan, that the plan offers maternity care and prescription

drug coverage.

Maternity Coverage

It is advised that every woman chooses a health insurance plan that

includes maternity coverage. A plan’s cost does increase when maternity

coverage is added but the costs in the long run are minimal. Without

maternity coverage, if you were to become pregnant, you would not be

able to add maternity coverage or switch plans. Pregnancy is considered a

pre-existing condition and you would become uninsurable.


Birth Control

Birth control of any kind, i.e. oral contraceptive pills, the birth

control patch, or the Nuvaring is usually available as a prescription drug

with co-pay. Prescription drugs come in a wide range of prices and

choosing a health insurance plan that divides prescription drugs into tiers

is very affordable. The tiered option makes it easier for you and your

doctor to choose the lower-cost option for the prescription drug, such as

birth control, you may need Health Savings Account (HSA) Health

Savings Accounts, or HSAs, are a combination of a high deductible

health insurance plan and a tax-favored savings plan that allows a tax

deduction for the individual it is owned by. HSAs were formed to

empower individuals to have greater control over their health care

decisions. They are available for individuals who are enrolled in a high

deductible health plan, are not enrolled in Medicare, are not covered by

another health plan and are not claimed as dependents on someone else’s

federal tax return. HSAs are perfect for women who rarely go to the

doctor except for annual exams and screenings.

ADVANTAGES

Give you the flexibility to pay on a pretax basis for qualified

medical expenses not available in some traditional health plans.

Qualified medical expenses can include dental, orthodontics,

visions, and non-prescription medications.

Deposits are not tied to expenses in a particular year and can be

rolled over for future expenses.

In catastrophic situations, the maximum out-of-pocket expense

liability can be less than that of a traditional health plan.


Premiums are generally lower than traditional health insurance

plans.

When you file for taxes each year, any deposits made during that

year into your HSA will be tax-deductible.

You can keep an HSA even if you change jobs or insurance

companies.

DISADVANTAGES

HSAs have been rejected by some because of opinions that they

only benefit healthy, younger people.

Critics believe that low-income individuals and family do not earn

enough to benefit from the tax-breaks offered by HSAs.

There are limits to the amount that can be contributed to your HSA.

If you contribute in excess of the maximum contribution amount,

the excess amount is not tax-deductible.

HEALTH INSURANCE CLAIM PROCEDURE

Health insurance claim procedure is very specific, depending upon

the company's rules and regulations. It is differs from one company to

another. Nowadays, due to increasing competition, every company in

health insurance sector tries to inculcate simple health insurance claim

procedure, as it is the demand of customer. Everyone today wants to opt

for the policy with easy and speedy claim procedure.. You can claim the


money by filling the health insurance claim form, which can be collected

either from company's office, from agents or online.

The following information should be correct to claim for the

reimbursement of medical expenses.

1. Name of the policy holder

2. Contact details

3. Policy number

4. Date and time of problem

5. Location of problem

6. Nature of problem

You can register your request for the claims or you can even speak to

representative on phone number mentioned on the site or can even mail

on the mail address provided.

Chapter: 4

Insurance Policy for Women

Society is finally realizing the importance of women. Women have

finally managed to break the shackles of the four walls and stepped out to

keep pace with their male counterparts. The last few decades has


witnessed a sea change in the outlook of society towards women. The

image of the traditional Indian housewife has undergone a drastic

metamorphosis over the last few decades. Women in India today are

walking shoulder to shoulder with their male counter parts. Today women

are occupying important positions in top notch corporate houses along

with being an excellent home maker.

Since women are on the run continuously sometimes for their

homes and sometimes for their outdoor work it is very essential that the

health of a woman remains in good shape. Taking this into consideration

most of the popular insurance companies in India today are coming with

insurance policies tailored specially for women. Most of the insurance

companies in India today have both life and health insurance policies for

women.

Some of the important Insurance policies for women are:

4.1 Easy Health Individual Plan

Easy Health Individual Plan provided by Apollo Munich is a

comprehensive health insurance plan that can be purchased by men or

women. The plan if chosen by women includes in it all the health benefits

offered by other plans and also certain maternity benefits suitable for

pregnant women.

4.2 Jeevan Bharati-I (plan No. 192)

Launched on July 30 2008 by LIC India this plan is an exclusive

insurance policy for women. Especially designed for working women the

JEEVAN BHARATI-I (PLAN No. 192 is a money back policy. The

benefits offered to the ensured under this plan include optional Accident


Benefit, Critical Illness Benefit and Congenital Disability Benefit. The

maximum and minimum amount that the insured will receive would be

Rs 50,000 and Rs 2, 50,000 respectively.

4.3 Vijaya Raji Janani kalyan Yojana

Vijaya Raji Janani Kalyan Yojana by United India Insurance Company is

designed keeping in mind the development and welfare of women of the

state of Madhya Pradesh.

4.4 Swayam Shakti Suraksha

Swayam Shakti Suraksha is currently among the best insurance policies

for women in India. A joint venture between one of the biggest

microfinance companies in the country SKS Finance's Bajaj Allianz

Swayam Shakti Suraksha supports around 1 million women across the

country. The policy supports around 3.6 million women in rural India

across 18 states. Known as one of the cheapest polices the tenure of this

plan extends to 5 years. The policy can be started with just depositing an

amount of Rs 500.

4.5 Insurance Policy for Pregnant Women


Health insurance during pregnancy: There are health insurance plans for

pregnant women. A woman can buy a health insurance plan before or

after conceiving. However, the ideal and comparatively profitable option

would be a health insurance plan before getting pregnant. The simple

reason for this is health insurance during pregnancy would be costlier.

Furthermore, it offers mental peace and wave out all the worries

regarding the complications during and after childbirth. Some of the

insurance companies such as Star Health, Apollo DKV, United India

Insurance, ICICI Lombard, and Cholamandalam General offer women

health insurance.

Mediclaim policies in India such as maternity insurance are offered

by insurance firms as a component of group insurance policies to

corporate houses. None of the general insurance firms provide complete

Insurance Policy for Pregnant Women as the coverage shields only

unanticipated risk cover and maternity is not categorized under this.

Moreover, there are no particular parameters or consistency among the

various pregnant women insurance benefits, either in its inclusions or in

its omissions. However, there are few firms offering maternity insurance

policies but they rarely cover maternity expenses that take place within

the nine months of buying the scheme.


COMPANIES OFFERING INSURANCE POLICIES FOR

PREGNANT WOMEN

It is vital for maternity insurance to incorporate all expenditures

incurred during pregnancy, right from the delivery to post-natal care in

Indian hospitals. The companies which offer Insurance Policy for

Pregnant Women are: Apollo DKV, ICICI Lombard, United India

Insurance, Cholamandalam General Insurance and Star Health. Some of

them are described briefly as under:

ICICI Lombard's Health Advantage Plus provides health insurance

along with OPD (outpatient department) cover that incorporates

pre-natal examinations and medical costs

United India Insurance offers maternity insurance under its group

policy. It offers coverage for maternity expenditures on

imbursement of an additional premium and also covers

expenditures incurred during hospitalization. The patients admitted

in nursing homes are also entitled to an amount of Rs 50,000 or the

sum assured, whichever is less.

Apollo DKV provides maternity benefits such as day care

coverage, expenses met before and after hospitalization, etc.

Apollo DKV's Easy Health provides portability of advantages

where the ensued advantages allocated under the existing insurance

schemes with other insurer can be brought down to Easy health

insurance policy.


INCLUSIONS UNDER INSURANCE POLICY FOR PREGNANT

WOMEN

A number of group insurance policies offered by insurance firms

for working women envelop maternity advantages and insurance. The

inclusions under Insurance Policy for Pregnant Women are:

All pregnancy associated hospitalization costs,

Before and after hospitalization costs for pre-determined number of

days,

Surgeries and pregnancy related complications and

Expenditures incurred pre- and post-natal durations

EXCLUSIONS UNDER INSURANCE POLICY FOR PREGNANT

WOMEN

Many insurance policies neither incorporate expenses met during

monthly medical checkups after pregnancy nor does it envelops costs

incurred towards medications consumed during pregnancy. Insurance

Policy for Pregnant Women in India also does not constitute:

Unanticipated events resulting in the termination of pregnancy for

the initial few weeks,

Medical costs for pregnancies taking place during nine months of

purchasing the maternity insurance policy the insurance firms offer

these benefits under their group policies for corporate firm that is

subject to the condition of inclusion of minimum number of

individuals working in the organization.


FACTORS INFLUENCING THE PREMIUM OF INSURANCE

POLICY FOR PREGNANT WOMEN

The premiums forfeited under group insurance policies offered by

Insurance firms that incorporates maternity insurance are influenced by

various aspects.

First and foremost, the premium allocated under Insurance Policy

for Pregnant Women depends on the company's profile which is

being insured. Besides its profile, the sector under which it is

functioning and its related risk factors are also taken into

consideration. In the FY 2007-08 around 3/4th of firms working in

the sector of Information technology, pharmaceuticals and

manufacturing picked group insurance scheme with maternity

benefits.

Other aspects that influences the premium of maternity insurance is

the employee profile, her age group, designation, etc and earlier

health insurance assertion ratios applicable to the firm.

The last factor affecting premium is the frequency of utilization of

maternity insurance and other health policies by the firm's

employees.


Chapter: 5

Women’s Policies offered by various Insurance Companies

5.1 Apollo Munich’s Easy Health insurance Plan

Easy Health Individual Plan provided by Apollo Munich is a

comprehensive health insurance plan that can be purchased by men or

women. The plan if chosen by women includes in it all the health benefits

offered by other plans and also certain maternity benefits suitable for

pregnant women.

Exclusive Health Insurance for Women’s

Sum Insured per

Insured Person per

Policy Year (in

Lakhs)

3.00, 4.00, 5.00 7.50

In-patient Treatment Covered

Pre - hospitalisation Covered

Post - hospitalisation Covered

Day Care Procedure Covered

Domiciliary Treatment Covered

Daily Cash for choosing

Shared Accommodation

Rs. 500 per day,

Maximum Rs. 3,000

Rs. 800 per day,

Maximum Rs. 4,800

Expenses for Organ

Donor of Transplant

Covered

Emergency Ambulance Upto Rs. 2,000


Daily Cash for

accompanying an

insured child.

Rs. 300 per day,

Maximum Rs.9,000

Rs. 500 per day,

Maximum Rs.15,000

Newborn baby Optional

Maternity Expenses

with Waiting Period

of 6 Year

Normal Delivery

Rs.15,000*

Caesarean Delivery

Rs.25,000*

(* including Pre/Post

Natal Limit of

Rs.1,500 and New

Born limit of Rs.

2,000)

Normal Delivery Rs.

25,000*

Caesarean Delivery

Rs.40,000*

(* including Pre/Post

Natal Limit of

Rs.2,500 and New

Born limit of Rs.

3,500)

Out-patient Dental

Treatment with

Waiting Period of 3

years

Not Covered

Spectacles, Contact

Lenses, Hearing Aid

Every Third Year

Not Covered

E-opinion in respect

of a Critical Illness

Not Covered

Additional Cover for

Critical Illness

Optional 50% or 100% of basic Sum Insured

Health Checkup Upto 1% of Sum Insured subject to a


Maximum of Rs. 5,000 per Insured Person,

only once at the end of a block of every

Continuous three claim free years.

5.2 LIC’s Jeevan Bharathi

Introduction

LIC’s Jeevan Bharati-I – is a plan exclusively for women. It is a

with profit plan having special features considering the needs of women.

The plan also provides for Accident Benefit, Critical Illness Benefit and

Congenital Disability Benefit as optional Riders Insurance giant Life

Insurance Co-operation Ltd (LIC) has launched an exclusive policy only

for women called Jeevan Bharati. Essentially is a money-back policy with

a term of 15 or 20 years.

1. SPECIAL FEATURES

Encashment of Survival Benefit as and when needed:

The policyholder at her option may avail the survival benefit any time on

or after its due date .If opted to avail later, increased survival benefit at

the rate decided by the corporation from time to time will be payable.


Flexibility to pay premiums in advance:

The mode of premium payment is only yearly under this plan. However,

policyholder may pay the next yearly premium in advance in installments

(maximum up to 3 installments) during the year. If premiums are paid in

advance a premium rebate may be allowed as may be decided by the

Corporation from time to time

Option to receive maturity proceeds in the form of an annuity:

The policyholder shall have the option to receive the maturity proceeds in

the form of annuity. The rate of annuity will be based on the annuity rates

prevalent at the time of stipulated Date of Maturity.

Auto Cover:

After two years premiums have been paid, whenever premium payment is

discontinued, the life cover for full sum assured will continue for 3 years

from the due date of first unpaid premium. If death occurs during the

Auto Cover period, then death benefit after deducting unpaid premiums,

with interest is payable along with the vested bonus, if any. The auto

cover shall not be available for rider benefits.

2. OPTIONAL RIDERS:

The following riders are available under this plan:

A. CRITICAL ILLNESS (CI) RIDER :

An amount equal to the Critical Illness Rider Sum Assured will be

payable in case of diagnosis of defined categories of critical illnesses. A


person is eligible for this benefit up to a maximum age of 60 years but

subject to a maximum of the policy term. This benefit can be availed for a

minimum Sum of Rs 50000 and for a maximum Sum equal to the Sum

assured under the basic plan subject to the maximum of Rs 5 lakh overall

limit taking all critical illness riders under all existing policies of the Life

Assured.

B. ACCIDENT BENEFIT RIDER:

An additional amount equal to the Accident Benefit Rider Sum Assured

is payable upon death or total and permanent disability due to accident

during the policy term. This benefit can be availed for a minimum sum of

Rs 50000 and for a maximum sum equal to the Sum Assured under the

Basic Plan subject to the of Rs.50 lakhs.

C. CONGENITAL DISABILITIES BENEFIT (CDB) RIDER:

This rider can be opted for by a female between the ages of 18yrs and 35

years .An amount equal to 50% of the CDB Sum Assured is payable if

the Life Assured gives birth to a child with specified congenital

disabilities. This benefit is available for a maximum of two such children

and this benefit ceases at the age of 40 years. This benefit can be availed

for a minimum Sum of Rs 50000 and a maximum sum of Rs 500000.

3. ELIGIBILITY CONDITIONS (For Basic Plan):

Minimum age at entry: 18 years (completed)

Maximum age at entry: 55 years (nearest birthday)

Maximum age at maturity: 70 years (nearest birthday)

Policy term: 15 and 20 years

Minimum Sum Assured : Rs. 50,000/-


Maximum Sum Assured: Rs. 25,00,000/-

(Sum Assured shall be in multiples of Rs.5,000/-)

4. SAMPLE PREMIUM RATES FOR BASIC PLAN :

Tabular Annual Premium per 1000 SA

AGE/TERM 15 20

20 79.35 63.90

25 79.45 64.10

30 79.70 64.55

35 80.25 65.45

36 80.45 65.70

37 80.60 66.00

40 81.35 67.00

45 83.15 69.50

50 86.05 73.50

5. HIGH SUM ASSURED REBATES:

Sum Assured (in Rs) Rebate per thousand Sum

Assured

1,00,000 to 4, 99,999 Rs 2.00

5, 00,000 and above Rs 4.00

6. LOAN:

Loan is available under the plan after the policy acquires paid-up value.

7. GRACE PERIOD:


A grace period of one-month but not less than 30 days will be allowed for

payment of premium.

8. REVIVAL:

A. REVIVAL DURING THE AUTO COVERS PERIOD:

(i) If Critical Illness Rider is not opted for:

During the Auto Cover Period, the Life Assured can pay one or

more installments of premiums with interest without submission of any

evidence of health. On payment of part or full arrears of premiums with

interest, the Auto Cover Period of 3 years from the due date of new FUP

shall again be available during the term of the Policy. If any survival

benefit falls due during the above 3-year auto cover period the same will

be paid after deduction of unpaid premiums with interest until the due

date of the survival benefit, provided it is more than the unpaid premiums

with interest. If the survival benefit is insufficient to cover the arrears of

premiums with interest up to the due date of such survival benefit, then

the survival benefit will be payable only on payment of such arrears of

premiums with interest , during the period of the aforesaid 3 years or on

revival of the policy.

(ii) If Critical Illness Rideris opted for:

During the auto cover period, the policy can be revived by payment

of full arrears of premium together with interest and subject to

submission of proof of continued insurability of the Life Assured to the

satisfaction of the Corporation. The Corporation reserves the right to

accept at original terms, accept at revised terms or decline the revival of

the policy. The revival of the policy shall take effect only after the same

is approved by the Corporation and is specifically communicated to the


Life Assured. If any survival benefit falls due during the above 3-year

auto cover period the same will be paid only after revival of the policy as

stated above.

B. REVIVAL OTHER THAN DURING AUTO COVERS PERIOD:

If the Policy has lapsed, and the policy is not under the period of

auto cover, the policy can be revived within a period of 5 years from the

date of first unpaid premium and before the date of maturity by payment

of full arrears of premium together with interest and subject to

submission of proof of continued insurability of the Life Assured to the

satisfaction of the Corporation. The Corporation reserves the right to

accept at original terms, accept at revised terms or decline the revival of a

discontinued policy. The revival of discontinued policy shall take effect

only after the same is approved by the Corporation and is specifically

communicated to the Life Assured. The Rider/s shall be revived along

with the Basic plan and not in isolation

9. PAID UP VALUE:

If after at least three full years’ premiums have been paid and any

subsequent premium not paid, this policy shall not be wholly void after

the expiry of three years Auto Cover Period, but shall continue as a paid

up policy. The Sum Assured of the policy shall be reduced in the same

proportion as the number of premiums actually paid bears to the total

number of premiums stipulated for in the policy, less any survival benefit

paid. This reduced Sum is called the paid up value.


The policy thereafter shall be free from all liabilities for payment

of the premiums, but shall not be entitled to the future bonuses. The

existing vested reversionary bonuses, if any, will remain attached to the

reduced paid-up Policy. This paid up value shall be payable on the date of

maturity or at Life Assureds prior death. No survival benefit shall be

payable under paid up policies.

10. SURRENDER VALUE:

The Guaranteed Surrender value will be available after the expiry

of 3 policy years provided the premiums have been paid for at least three

years. The Guaranteed Surrender Value is equal to 30% of the total

amount of premiums paid excluding the premiums paid for the first year,

any premiums paid towards riders, all extra premiums that may have been

paid less the amount of survival benefits paid earlier. The cash value of

any existing bonuses, if any will also be paid.

Corporation may, however, pay special surrender value as the

discounted value of Paid up sum assured and vested bonus, if any, as

applicable on date of surrender, provided the same is higher than

guaranteed surrender value.

11.EXCLUSIONS:

This policy shall be void if the Life Assured commits suicide

(whether sane or insane at that time) at any time on or after the date on

which the risk under the policy has commenced but before the expiry of

one year from the date of commencement of risk under the policy and the

Corporation will not entertain any claim by virtue of this policy except to

the extent of a third party’s bonafide beneficial interest acquired in the

policy for valuable consideration of which notice has been given in


writing to the branch where the Policy is being presently serviced (where

the policy records are kept), at least one calendar month prior to death.

12.COOLING OFF PERIOD:

If you are not satisfied with the “Terms and Conditions” of the

policy, you may return the policy to us within 15 days.

BENEFITS

A. Survival Benefits:

Survival the following benefits are payable:

For 15 Years Term

20% of the Sum Assured payable at the end of 5 years.


60% of the Sum Assured payable together with vested bonus, and

Final Additional Bonus, if any, at the end of 15 years.

For 20 Years Term




40% of the Sum Assured payable together with vested bonus and

Final Additional Bonus, if any at the end of 20 years.


B. Death Benefit:

In case of death of the life assured during the policy term, the full sum

assured is payable irrespective of the survival benefits paid earlier. The

vested bonuses and Final Additional Bonus, if any are also payable.

5.3 Bajaj Allianz’s Mahila Gain

Bajaj Allianz life insurance policy offers you flexible insurance

plans according to requirements. Bajaj Allianz deals in Endowment plans,

Money back Plans, Ulips, single premium, and pension and children plan.

All plans are enough flexible to be customized.

Housewives need to safeguard their financial independence. Our

additional benefits like Mahila Gain have special features for women

which offer:

Critical Illness Benefits

Reconstructive Surgery Benefits for Breast(s) due to Breast Cancer

Congenital Disability Benefits

Complications of Pregnancy Benefits

Women Insurance Plan - Currently available products to purchase

1.Housewives : Housewives need to safeguard their financial

independence. There are additional benefits like the Mahila Gain feature

which offers benefits like.

Critical Illness Benefits.

Reconstructive Surgery Benefits for Breast(s) due to Breast

Cancer.

Congenital Disability Benefits.


Complications of Pregnancy Benefits.

2. Working Women: This plan helps the working women to protect

themselves, their family and plan for their future. The insurance,

investment, pension and health products have been specially customized

to suite to every specific need of a woman.

5.4 Tata Aig

Wellsurance Woman

Today’s Indian woman is extremely focused - she’s a real achiever.

As she makes her mark, she balances multiple roles perfectly. Be it a

supportive wife, a caring mother or a successful career person, there are

very few things that she doesn’t have the time for - her health,

unfortunately can from those things.

That’s why we created Tata AIG Wellsurance Woman, that looks

beyond her health insurance needs and ensures her well being.

Who should buy Tata AIG Wellsurance Woman

Female between the age of 18 yrs and 65 years.

Renewable for life. Contact them for renewal premium for ages

above 66

Key Features


Benefit amount on diagnosis of any of 11 Critical Illnesses. Higher

benefit in case of Cancer

Cashless hospitalization at over 3000+ network hospitals across

India

Daily Hospital Cash benefit

Higher Hospital Cash for ICU/ICCU admissions

Convalescence benefit, for post hospitalization treatment

Cosmetic Reconstruction Surgery benefit for accidental injuries

Income Tax benefit under Sec 80D

Note

For all sickness hospitalization, waiting period of 90 days is

applicable.

No waiting period for Accident related hospitalization.

Hospital Cash: 1 day deductible for Hospital Cash benefit. Not

applicable for hospitalization due to any accident.

Critical Illness: The benefit for each critical illness will be paid

once during the entire life time of the policyholder. On Renewal

this benefit will be available for all Illnesses except for the one

paid in the previous term.

If an insured suffers a Critical Illness/Sickness/Disease or has to

undergo a surgery for which benefits are payable under more than

one such similar policy issued by us, the maximum amount payable

under all policies combined will not exceed the amount payable

under the policy which pays the largest benefit

This policy covers hospitalization in India only.

Ambulance benefit is a lump sum amount paid on usage of

ambulance during the incidence of hospitalization.


ADVANTAGE OF WELLSURANCE

Free Health Helpline - Reach our expert physicians to avail help on

health & wellness related information.

Tata AIG Wellsurance Website - Explore a host of benefits like a

personalized health tracker that helps you monitor your health &

fitness levels. Get access to exclusive articles on health & wellness.

Check and compare cost of various medical services provided by

different hospitals. Post a health query to our expert physicians.

Visit our website at: www.tataaigwellsurance.com

Health and Wellness Offers - Get discounts at select Gyms, Spas,

Skin care & Weight Management Centers.

Wellsurance Health Perks - As our privileged customer get

discounts on selected health check up packages at our wide range

of network hospitals

Tax Benefits - Get tax benefits for premium paid on policies as per

section 80D of the Income Tax Act. Tax benefits are subject to

income tax laws.

How can we buy this Tata AIG Wellsurance Woman?

You can give us your details in the “Have us call you” form and

they will get in touch with you shortly.

You can calculate premium by online.

What is not covered under Tata AIG Wellsurance Woman?

Any Pre-existing Condition, any complication arising from it.

Intentionally self-inflicted Injury or illness, or sexually transmitted

conditions, mental or nervous disorder, anxiety, stress or

depression, Acquired Immune Deficiency Syndrome (AIDS),

Human Immune-deficiency Virus (HIV) infection; suicide, or


War, civil war, invasion, insurrection, revolution, act of foreign

enemy, hostilities (whether War be declared or not), rebellion,

mutiny, use of military power or usurpation of government or

military power; or

serving in any branch of the Military or Armed Forces of any

country, whether in peace or War, and in such an event We, upon

written notification by You, shall return the pro rata premium for

any such period of service or

Ionizing radiation or contamination by radioactivity from any

nuclear fuel or from any nuclear waste from burning nuclear fuel or

The radioactive, toxic, explosive or other dangerous properties of

any explosive nuclear equipment or any part of that equipment; or

Congenital anomalies or any complications or conditions arising

there from; or

Professional Sports, Hazardous Activities; or

Cosmetic or plastic surgery or any elective surgery or cosmetic

procedure, circumcision, (except as a result of an Injury caused by

a Covered Accident while Our Policy is in force ) that improve

physical appearance, surgical and non-surgical treatment of obesity

(including morbid obesity) and weight control programs, or

treatment of an optional nature; Routine health checks or

convalescence, Custodial Care, general debility, lethargy, rest cure;

expenses on vitamins, tonics and any other health supplement;

vaccination, inoculation of any kind.

Any investigation(s) or treatments not directly related to a Covered

Illness or Covered Injury or the conditions or diagnosis

necessitating hospital admission; or Any surgery done on the

organ(s), if they are not infected or affected;


services, supplies, or treatment, including any period of Hospital

confinement, which were not recommended, approved, and

certified as Medically Necessary by a Physician; or

organ transplants that are considered experimental in nature;

expenses incurred for hospitalization or surgery for donation of

organs ; or

pregnancy and all related conditions, including services and

supplies related to the diagnosis or treatment of infertility or other

problems related to inability to conceive a child; birth control,

including surgical procedures and devices; This however does not

include ectopic pregnancy proved by diagnostic means and is

certified to be life threatening by the Physician; or

Medical expenses incurred as the result of alcohol and/or drug

abuse, addiction or overdose.

Any surgery for donation of organs.

Treatment of Spondylosis/ Spondylitis.

Cost of Spectacles and contact lens, hearing aids, walkers,

crutches, wheel chairs and such other aids

Any Ayurvedic, Homeopath or naturopathy treatments. Please refer

to policy wordings for detailed benefits and exclusions.

5.5 Birla Sun Life Insurance

Lady Guard

Lady Guard is designed for women who require financial independence

and face various health risks. The product targets women in the age group

of 20-35 years. It is a unit linked plan offering a safety net in the form of

a 3 percent guarantee on the premiums net of policy fees and charges.


The plan offers triple benefits.

Money Back Plan.

Critical Illness (CI) and Accidental death.

Dismemberment (ADD) cover.

Benefits of plan:

With liquidity being given paramount importance, the plan offers

you 20 percent of the face amount as periodic payments every 5

years, which you have the option of withdrawing or retaining in the

fund and allowing it to grow.

The plan also allows you to make cash withdrawals anytime after 3

policy years. You can make two withdrawals in a policy year

absolutely free of cost.

Every additional withdrawal is subject to a charge of Rs.100. You

can also avail of a loan against your policy in case you do not wish

to touch the policy fund.

The plan gives you the option of choosing from 3 investment funds

(Protector, Builder and Enhancer) depending on your risk profile.

You can switch between these options anytime after the first policy

year. One such switch is allowed free of cost.

In the event of death of the policyholder, the face amount of the

life insurance cover, along with the policy fund will be paid to the

nominee. On survival till maturity the policy fund will be paid to

the policyholder.

If the policyholder is diagnosed to be suffering from one of the

illnesses/conditions covered under the Critical Illness rider, and

survives the condition for a period of at least 30 days from the date


of diagnosis, the full face amount (under the Critical Illness

portion) or a part thereof will be payable to you.

The policy is equipped with the option of making changes

(increase or decrease) in the face amount of the plan during the

policy term. The minimum amount of change permitted is

Rs.50,000.

Furthermore, you can invest any additional savings that you may

have into your policy fund to maximize your savings.

The minimum additional investment (other than the premium

amount) that you can make in a year into the fund is Rs.5, 000 and

the maximum is Rs.50, 000 or the annual premium, whichever is

higher.

Chapter: 6

Insurance Policy of Issuance

Who does not want insurance for his life or his near and dear ones?

Insurance not only cover the life and health of the policyholder, but it also

provides cover for his valuable belongings such as home, car, legal

documents etc. The important of insurance is endless in our life.


Insurance policy issuance is the first step of availing the services of an

insurance cover. Issuance of insurance policy is the procedure to buy a

plan.

There are a number of insurance companies, which offer insurance

plans. First you need to select the perfect plan for you. After selecting,

you should proceed for insurance policy issuance. There are many ways,

through which a person can seek his preferred insurance policy. These

ways may differ from one insurance company to other, but generally, all

the insurance providers share the same insurance issuance policies. The

four processes are:

Official website: Today in the age of internal and instant services, most

of the insurance companies have their official website. You can browse

through several plans, offered by the provider. If any plan attracts you,

you can link to the company through their 'Contact Us'. This redirects you

to an online form. You have to fill in the form with all your details and

queries. The company will contact you instantly.SMS helpline: You can

SMS your queries regarding a plan to the insurance provider or any of the

representatives of the company. They will contact you as soon as

possible.

Buy Online: Buying online is the best possible way of insurance

issuance. Buying an insurance cover online need to go through a couple

of steps, but this is an effortless and hassle free procedure to get your

chosen cover. This service issues the policy without submitting any

document.

Toll-Free Number: There is a toll free number, offered by all service

providers. If you are interested in any plan, you can dial the number and

talk to the representative to know the procedure of insurance policy


issuance. Before the issuance of the insurance policy, you should read the

terms and conditions very carefully. You need to understand all the clause

and associated loopholes. Once you sign up the legal contract with the

insurance provider, your insurance policy activates and provides cover for

you and your possessions

Chapter: 7

Parameters to Determine the Insurance Policy

Insurance cover the life as well as all the valuables of one's life. It

not only insures our lives but also buys mental peace for us. There are a

number of insurance companies and banks, which offer good insurance

policy. However, all plans may not be suitable for everyone. How can

you choose the best policy for you? What are the parameters to judge


which insurance plan is good and what is not good for you. There are

millions of insurance companies, which offer you different insurance

plans. However, you need to decide which plan would be good for you.

Given below are some parameters to determine the best insurance Policy

for you.

Premium rate:

Before going for any insurance plan, you have to check the

insurance quote. Sometimes, it is noticed that short term insurance

policies cost less but their premiums are higher. In that case, the

policyholder should concentrate on the monthly premium rather than the

insurance quote. Ask your insurance agent about your monthly premium.

If it is higher than your ability, you should understand that this insurance

policy would not suit you. On the contrary, in some cases, premium

payment annually is more profitable than the monthly or quarterly

premium. If the amount of annual premium attracts you, you should not

go for monthly or quarterly premium.

Insurance cover:

As mentioned earlier, there are high end insurance policies, which

cover all possible dangers in your life, but you may not avail all these

services during the term of your insurance. For example, single trip travel

insurance is good for those, who travel one or two times in a year while

multi trip travel insurance cover more than three tours in a year. If you

are not a frequent traveler, you should go for single trip travel insurance.

An optimum insurance policy is what covers all the articles; you need to

cover, and not a single extra thing.

Short term or long term:


There are two types of insurance plans, short term and long term.

Short term insurance plans can cover you for a short span from three

months to six months while long term insurance policy covers you for

more than one year. Short term insurance policies are comparatively cost-

effective compared to the other option. However, they cover you for a

certain time. If you need a few days cover and do not want to spend

much, you should go for short term insurance cover.

Income tax benefits:

Many people take extra insurance cover because they want some

tax benefits. Monthly insurance premium can be included in your taxable

amount. If you want such an insurance plan, study the market and choose

the right one. There are many insurance policies, which can save your

taxes.

Discounts:

Many insurance companies give lucrative discounts on their plans.

Some provide the discounts through incentives while some cater for

children education fund. You should check what kind of incentive your

insurance provider is offering you. If it attracts you, you should know that

it is a good insurance plan for you.

Chapter: 8

Guidelines for Choosing an Insurance Policy

Choosing the right insurance policy for oneself has become crucial

in the times of turbulent financial markets and various other unexpected

events. It not only determines the concern that we get when our physical

wellbeing takes a wrong turn, but is also very helpful for designing a

well-structured fiscal plan. An insurance cover offers many advantages


ranging from monetary assistance at the time of unanticipated demise of a

major income earner of the family to offering sound monetary future to

the family.

There are many factors to probe into when an investor chose an insurance

company.

The consumers as well as the investors should only focus on the

insurer's financial strength and capability to meet ongoing

responsibilities to its policyholders.

The fundamentals of the insurance company should be strong and

should not indicate a poor investment opportunity as this might

also deter growth.

Chapter: 9

TIPS FOR CHOOSING AN INSURANCE POLICY

While selecting the right insurance cover, one should always

consider her present earnings and the estimated competence to

forfeit the insurance premiums at the allotted dates besides the age

factor, future fiscal strategies, medical condition, etc.


Other factors which needs to be taken into consideration while

selecting the right insurance policy are the policy's cost-benefit

ratio and guaranteeing that the insurance envelops all your family

members along with the common health issues. The cost benefit

ratio of the

Insurance policy relies on many factors such as what is insured and

what are the benefits that come along with it.

Hence while purchasing the policy one needs to keep a strict

vigilance on the price of the policy and guaranteeing that the policy

rationalizes the benefits included under it.

Besides keeping a close eye on the advantages, the policyholder

should also ensure that the promises made by various insurance

firms are adhered by

Chapter: 10

Conclusion

Women have moved on from being just homemakers to

breadwinners, often playing multi-dimensional roles -- professional,

homemaker, mother and even financial planner. Needless to say,

insurance is as much a necessity for them as it is for men. For a good long


time, insurance companies offered covers only for men. A few did offer

products for women, but with restrictive conditions and higher premiums.

Things started changing with the formation of the Life Insurance

Corporation of India. But today, all women -- married, unmarried,

widowed, dependent and even handicapped -- can be insured and those

who work and earn an income are treated at par with men .With better

education levels, increased awareness about the status and contribution of

women, better medical facilities for safer childbirth and larger number of

women taking up employment or business, medical insurance was

introduced for women, followed by several other exclusive plans.

Insurance companies take into account a woman’s income levels,

education standard and socio-economic background to grant covers .The

perspective of insurance has also undergone a sea change. Earlier, it was

viewed only as compensation received on the death of a key earning

member. But today, insurance has emerged as a tool that provides support

in one’s old age and is also a preferred investment option, over and above

providing protection to one’s kin in the even of his/her death .

Investing a little time and money on a regular basis in an insurance

policy amounts to meeting any health scare or accident more

comfortably. Things changed when women started challenging men at the

workplace, often bagging better jobs, and with economic advancement,

started demanding better insurance and health facilities. It would not be

incorrect to say that for women at any life stage and of any demographic

profile, life insurance is important to meet her financial protection and

long-term wealth creation needs. It is never too early to invest in life

insurance and hence the day you start earning, you should start investing

in life insurance. At the same time it is never too late. If you have not


started, the cost of getting financial protection and creating corpus to

meet your financial needs would be higher, but it is never too late to start.

The women of all age groups and of every profile should consider

her needs, consider income and expenses and must allocate a certain

portion of disposable income towards buying appropriate life insurance.

The best option is to consult an expert financial advisor and take

immediate action on the suggested financial plan to live a stress free life.

Chapter: 11

Research and Analysis

DATA ANALYSIS

GRAPHS:


Information has been collected by conducting a survey of 50 women’s.

They are analyzed as under:

QUESTIONNAIRE FOR THE WOMENS AGE GROUP:

EXPLANATION

In the above diagrammatic representation it can be seen that, out of 50

women interviewed 20% fall in the age group of 20-34 years, 34% in -35-

49 years and 46% in 50 and above.

OCCUPATION

EXPLANATION

After conducting the survey it was seen that, out of 50 women’s

interviewed 18%women fall in the business category, 46% fall in service

category, 20% fall in professional category and 16% fall in others.

Have you taken women’s policy

EXPLANATION

After conducting the survey it was seen that, 80% women’s have taken

the policy and 20% women don’t have policy .What is the name of

policy?

EXPLANATION

Women have different types of policy. They have the policy like jeevan

bharati which is specifically for women introduced by LIC, Birla

sunlife’s lady guard, Bajaj Allianz house wives, tata aig –well insurance

for women.


What type of policy is it?

EXPLANATION

The above data shows that 47%women have health insurance policy and

45%people life insurance policy, 8%have other policy like health saving

account, mediclaim etc.

Do you opt the policy from private sector or public sector insurance

Company?

EXPLANATION

Through the survey we can conclude that 65% women have policy from

public company and 35% women get insured from private companies.

From Which company you have taken the policy?

EXPLANATION

We can conclude that many women prefer LIC because its goodwill in

the market. About 30% woman’s have Bajaj alliance’s policy as they are

providing plan specially for housewives. 20%Womens have Birla sunlife

insurance and 10%womens have Tata aig insurance and only 3% uses

other type of insurance.

Reason for Taking insurance

EXPLANATION

We can conclude that many women insured themselves as reason for

security. According to my survey 52% women’s have insurance as

security against health, life, maternity, 38% women’s have insurance as a

reason for saving, 6% insured themselves according to brand image of the

company and 4% insured for other reason.


On Your Choice, Which Mode of Insurance Distribution Channel

Would You Prefer To Buy a Policy From?

EXPLANATION

After conducting the survey it was seen that as per the women’s point of

view the preference for buying insurance policy goes to an agent. 56%

women prefer to buy policy from agent, 30% prefer to buy policy from

bank and 14% prefer to buy policy from online.

As per you which type of company provide good Quality of service?

EXPLANATION

As per the chart there is equal percentage for private and public company

because both are providing good quality of service. 65% women said that

private company is better and 35% said that public company is better.

Are you satisfied by the services provided by your company

EXPLANATION

95% women said yes, they are satisfied by the services provided by their

company. No suggestion given by them regarding improvement as

everything is perfect. 5% people women said No as they are not satisfied

with the services of company.

Chapter: 12

Bibliography

www.centerwomenpolicy.org


mahilaayog.maharashtra.gov.in/new/policy.php

www.iwpr.org

www.licindia.in

www.itnest.in/lifeinsurance.actcon

insurance.birlasunlife.com

www.tataaig.com

www.tataaigwellsurance.com

www.bajajallianz.com


women insurance policy

Investor Relations

life of women

insurance industry

insurance products

sort of insurance

regular life insurance

financial planning

financial planner

financial responsibilities