According to the report, this is part of a rapid change in financial decision-making, driven by greater participation in the workforce and increasing access to digital financial tools. The share of women buying term insurance has increased to 18 per cent in the current financial year.
Women in the country are increasingly taking responsibility for financial security. 44 percent of women buying term insurance are now taking a cover of Rs 1 crore or more. According to a report by Policybazaar, women’s participation in investment policies, health insurance and term life insurance has increased significantly.
According to the report, this is part of a rapid change in financial decision-making, driven by greater participation in the workforce and increasing access to digital financial tools. The share of women buying term insurance has increased to 18 per cent in the current financial year. Salaried women are at the forefront with 49 per cent of these.
Housewives in second place
Housewives are in second place with 39 per cent. Women between 31 and 40 years of age are buying the most insurance, which is 48 per cent of the total purchases. The participation of women as policy proposers in health insurance has increased from 15 to 22 per cent in two years. More women are choosing higher coverage, of which 70-75 per cent are choosing insurance amount of Rs 10 lakh or more. Agency
Use of super top-up in full swing
Women above 40 years of age are focusing on securing themselves from rising medical costs. Many women are taking super top-up to make the coverage of Rs 1 crore cheaper. Women’s participation in investment-related insurance schemes is also increasing. Women account for 18 per cent of the total investment in ULIP.
Housewives in second place
Housewives are in second place with 39 per cent. Women between 31 and 40 years of age are buying the most insurance, which is 48 per cent of the total purchases. The participation of women as policy proposers in health insurance has increased from 15 to 22 per cent in two years. More women are choosing higher coverage, with 70-75 per cent of them choosing a sum assured of Rs 10 lakh or more. Agency
Use of super top-up in full swing
Women above 40 years of age are focusing on protecting themselves from rising medical costs. Many women are taking super top-up to make the coverage of Rs 1 crore cheaper. Women’s participation in investment-related insurance schemes is also increasing. Women account for 18 per cent of the total investment in ULIP.
