Do we ladies really need it?
Women play an important role in family as well as in society in all segments,either as a housewife or a working women.She goes hand in hand with her husband for the betterment of their family by way of the earning and saving but management of money is done by men in most of the families. In families where Women are given the right to manage money, they have a trend to invest either in Gold, bank savings or chit fund without having sufficient knowledge about it. In this Scenario, I would like to recommend from my experience that insurance is a good option for money management. How Insurance can benefits Women is a critical point and if she understands its importance, she will educate her family as well as society. One of the famous Marathi phrase by Mahatma Phule “Ek Stree Shikshit zali tar ti kutumb ani Samaj Shikshit karu Shakte” urge the importance of women education.
Insurance is all about Risk Management and women have this in-built quality in them and use it all situations of their life.When a women does saving after her family budget, she tries to keep it aside at home for her emergency or buy gold for her daughter ,or keep it in bank or invest in chit fund but inflation and demonetization will affect her savings and the main motto for her saving will not get fulfilled. So here Insurance will help her.
Now what is insurance all about — it is about
1. Peace of mind
2. Cost effective
3. Long term wealth Creation
4. Guaranteed Fund Creation for Child education & marriage
5. Retirement tool
6. Legacy planning tool
How Insurance can help women
Most women does everything for their children or husband but never think for their future but Insurance plays a vital role for women in India —
1)Pension for housewives as well as working women.Guaranteed monthly pension irrespective of changes in bank interest rate
2)Married women property act which is an clause attached while her husband
buys a policy for himself .The clause says that if anything happens to husband till his policy term and if any liability is to be recovered from him, this policy fund cannot be recovered by bank or any creditors, the whole amount is only given to wife and her children. IIn this situation a women has peace of mind that she and her children are protected against unforeseen circumstances.
- Save tax under section 80c , 80d and sec 10 (10)d
- Liquid money at certain ages to fulfill their dream vacation or hobbies
- Legacy planning for her children
Last but not least she can make a career in Insurance without any investment at her flexible timings