1

OBJECTIVE OF THE STUDY

Primary objective:
To study and detailed analysis about the awareness of women insurance among
peoples belongs to different class.
And the companies that provide women insurance like Life insurance corporation
of India, HDFCS smart women insurance policy, TATA AIGS well assurance etc.
Secondary objective:
The main purpose and objective of this study is to analyze the need and importance
of women insurance for womens in India. And the companies providing women
insurance taking it seriously or not. The level of customer satisfaction is proper or
not.
Mainly the objectives are as follows:
To analyze the improvement of womens satisfaction.
To determine how insurance companies are providing services to them.
To find out the expectations of womens towards the insurance as well as
insurance companies.
To find the improvement in the womens after taking a policy.
To find out whether the women insurance policy is profitable or is
something else as motioned in the terms and condition.
To determine the usefulness of women insurance to the illiterate as well as
literate womens in India.
To analyze the level of awareness of women insurance policy among people
and the responses of people after the introduction of the policy.
To find out the overall impact of women insurance to the different class of
womens in India.

SCOPE OF THE STUDY

The scope of the study is wider as it is extended to the womens in India belonging
to different categories.
To full fill the objective of the research the study is undertaken to analyze the
awareness of women insurance and its benefits towards womens in India.
RESEARCH METHODOLOGY:
The data collection involves both primary and secondary data collection and they
are collected from the respective sources.
The primary data is collected by the help of a survey and cross analysis for
identifying the level of awareness of women insurance in India.
The secondary data is collected from online database, books and journals available
as sources of information.

EXECUTIVE SUMMARY

Womens are the god gifted they should be treated equally. They should be given
respect and honor in all aspect. The increasing crimes against womens in India
places emphasis on the need of some appropriate remedial measures. This project
is regarding the improving awareness of insurance for womens in India. The
insurance companies have planned the women insurance policy. The womens
working at home, womens who are educated but cannot afford to work due to the
responsibility of her house and families. They can also take the fruitful benefit of
the policy. Basically the insurance companies have taken many initiatives to
improve the awareness through effective advertising, seminars, workshops etc.

CHAPTER: 1
INSURANCE

Human life is exposed to many risks, which may result in heavy financial losses.
Insurance is one of the devices by which risks may be reduced or eliminated in
exchange for premium. In words of Chief Justice Tindal, Insurance is a contract in
which a sum of money is paid by the assured in consideration of the insurer's
incurring the risk of paying larger sum upon a given contingency. In its legal
aspects it is a contract whereby one person agrees to indemnify another against a
loss which may happen or to pay a sum of money to him on the occurring of a
particular event. All contracts of insurance (except marine insurance) may be
verbal or in writing, but practically contracts of assurance are included in a
document.

DEFINITION
Risk-transfer mechanism that ensures full or partial financial compensation for
the loss or damage caused by event(s) beyond the control of the insured party.
Under an insurance contract, a party (the insurer) indemnifies the other party (the
insured) against a specified amount of loss, occurring from specified eventualities
within a specified period, provided a fee called premium is paid.
In general insurance, compensation is normally proportionate to the loss incurred,
whereas in life insurance usually a fixed sum is paid. Some types of insurance
(such as product liability insurance) are an essential component of risk
management, and are mandatory in several countries. Insurance,
however, provides protection only against tangible losses. It cannot ensure
continuity of business, market share, or customer confidence, and cannot
provide knowledge, skills, or resources to resume the operations after a disaster.

CHAPTER: 2

BASIC PRINCIPLES OF INSURANCE

The following are the basic essentials or requirements of insurance irrespective of
the type of insurance concerned.
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9. UTMOST GOOD FAITH

All types of contracts of insurance depend upon the contracts of utmost good faith.
Both parties (insurer and the insured) in the contract must disclose all material
facts for the benefit of each other. False information or non-disclosure of any
important fact makes the contract avoidable. So the conditions to show utmost
good faith are very strict on the part of the insured.
2. INSURABLE INTEREST
The insured must possess an insurable interest in the object insured. It may be
defined as a financial interest in the subject matter of contract. The presence of
insurable interest is a legal requirement. So an insurance contract without the
existence of insurable interest is not legally valid and cannot be claimed in a Court.
The object of this principle is to prevent insurance from becoming a gambling
contract.

3. PRINCIPLE OF INDEMNITY
All types of contracts except life and personal accident insurance are contract of
indemnity. According to them, the insurer undertakes to indemnify the insured
against a loss of the subject matter of insurance due to insured cause. In life
assurance the question of loss and, therefore, of its indemnification does not rise.
Because the loss of life cannot be estimated in term of money. The principles of
indemnity are based on the idea that the assured in the case of loss only shall be
compensated against the actual total loss. But if no event happens, the insured has
not to receive any amount, so in this case the premiums paid by him become the
profit of the Insurance.
4. DOCTRINE OF SUBROGATION
This principle applies to the contract of indemnity only i.e. marine and fire. It lays
down a principle which is quite equitable. According to this doctrine, where a loss
occurs and the insurer pays as for a total loss, he is entitled to all the rights and
remedies which the insured has against a third party in respect of loss so paid for. It
prevents the insured being indemnified from two sources in respect of the same
loss. Suppose A has damaged B is motor car negligently. If he pays B is loss in
full. B cannot collect the same from the insurance company. On the other hand if B
applied to his insurance company for indemnity under his policy, he will not be
permitted to collect the damages from A. In the latter case the insurance company
will be entitled to collect that amount.
5. DOCTRINE OF PROXIMATE CAUSE
This principle is found very useful when the loss occurred due to series of events.
It means that in deciding whether the loss has arisen through any of the risks
insured against, the proximate or the nearest cause should be considered. To take
an illustration in one case where a policy holder sustains an accident while hunting.
He was unable to walk after the accident and as a result of lying on wet ground
before being picked up, he suffered pneumonia. There was an unbroken change of
cause between the accident and the death, and the proximate cause of the death,
therefore, was the accident and not the pneumonia.

6. CANCELLATION
Both parties have right to cancel the policy before its expiry date. The period of
.the policy comes to an end on the cancellation of policy. So the protection
provided by the insurer to the insured stops from the date of such cancellation. The
premium received by the insurance company is also returnable to the insured.
7. ATTACHMENT OF RISK
Without the attachment of definite risk to the policy, the contract of insurance
cannot be in force. So in this case the consideration fails and the premium received
by the insurance company must be returned.
8. MITIGATION OF LOSS
When the event insured against takes place, the policy holder must do every thing
to minimize the loss and to save what is left. This principle makes the insured more
careful in respect of this insured property.
9. ARBITRATION
Most fire and accident insurance policies contain an arbitration clause which
provides for referring to differences to an arbitration. The arbitrator is to be
appointed in writing by the parties in difference. The object of this clause is to
reduce litigation.

CHAPTER: 3

WHY WOMEN NEED LIFE INSURANCE

With greater economic power, comes greater responsibility Strong, smart,
empowered, and independent women are a force everywhere, from the
boardroom to the classroom and beyond. Just consider these facts.
Women make up 51% of the population and represent the majority of college
graduates.
More than half of the entire labor force is comprised of women.
Nearly 4 in 10 mothers (39.3%) are primary breadwinners for their family.
Nearly two-thirds (62.8%) of women are breadwinners or co-breadwinners,
bringing home at least a quarter of the familys earnings.
With all this economic power, however, comes greater responsibility, for womens
finances, and for the next generation.
Today, women have more financial responsibilities than ever before. How will
their family or loved ones manage financially if they die? Whether they are single,
married, employed, or a stay-at-home mom, they probably need life insurance. At
the very least, life insurance can help pay for the costs of funeral and burial
services, estate administration, outstanding debts, estate taxes, and the uninsured
expenses of final illness.
1.Take Control of Future with Life Insurance:
Whether womens are a parent or a professional, just starting their career, in
transition, or nearing retirement, they need to ensure their future and that of the
people they love is bright and secure. Life insurance can help them do that
consider some of the benefits. Life insurance can:
2. Provide a lump sum of money to help pay expenses and generate an
income:
Life insurance cant replace them, but it can replace some or all of their income if
they die. It can cover the cost of final expenses and help pay off debts, as well as
day-to-day expenses, like food, clothing, and housing.

For the longer term, life insurance can help pay for their kids college education or
help ensure their spouse or partners retirement dreams are realized.
3. Help with household needs:
If womens are a parent, think of all the work they do on a daily basis. The endless
scope of activities combined for many with a busy career can be stressful, and
leave little time for ourselves. They are after all the CEO of anyones family:
determining how finances are utilized, being a classroom parent, finding day care,
or helping on that science project.
However many hats wear, the work they do is they invaluable toothier family. Life
insurance can help pay for the vital household services that they provide, such as
childcare, transportation and household chores.
4. Provide benefits they can use during their lifetime:
If they choose whole life insurance, the cash value in their policy the living
benefits can be borrowed against to help pay for lifes events such as buying a
home, paying for a wedding, or getting that Masters Degree youve been wanting
to earn. As they can pay the premiums of their whole life policy, the cash value
builds and they can access those funds via policy loans. Some important things to
keep in mind: loans accrue interest and decrease the death benefit and cash value.

5. Leave a lasting legacy:

Life insurance can create a financial legacy for their kids, their spouse, their
partner even their favorite charity or alma mater.
6.Play an important role in retirement plan:
Whether they are single, an empty nester, or have people who depend on them,
life insurance can play an important role in their retirement plan. How? Consider
their financial obligations such as a home mortgage, outstanding debts or medical
expenses. The proceeds from their life insurance policy can help ensure these are
settled and preserve the retirement plan them to work hard to put in place.

10

WHO NEEDS LIFE INSURANCE?

1).Working women
Increasingly, families depend on the income of two working parents. If they are a
working mother, their income can have a significant impact on the quality of their
familys lifestyle. Their income helps cover the cost of ordinary living expenses
such as food, clothing, and utilities, and it provides savings for their childrens
college education, and for your retirement. Life insurance protects their family by
providing proceeds that can be used to replace their lost income if they die
prematurely.
2).Single women
Often, women, like men, think that its not necessary to buy life insurance because
they have no dependents. Whats often overlooked is that life insurance can
provide necessary funds to pay off car loans, education loans, debts, a mortgage,
taxes, and funeral expenses that might otherwise be the responsibility of family
members. Also, the cash value of permanent life insurance may be used
to supplement retirement income.
3).Single moms
Whether she is divorced, widowed, or simply a single mom, she is most likely
primarily responsible for her childs support. If she die prematurely, life
insurance can provide ongoing income to cover child-care costs, medical expenses,
debts, and future college costs.
4).Stay-at-home moms
Maintaining a household is a full-time job, and they have many important roles and
duties. The cost of the services performed by a stay-at-home mom could be quite
significant if someone had to be hired to do them. If she die, her surviving spouse
may have to pay for services such as child care, transportation for her children, and
housekeeping. Taking over these added responsibilities could cause her spouse to
shorten work hours, resulting in a reduction in income. Proceeds from her life
insurance can help her spouse pay for services that keep the household running and
allow her spouse to keep working.

11

5).Family caregiver
Many women find themselves providing care for both children and elderly family
members. Caring for an aging parent or family member can include paying for the
costs of adult day care, uninsured medical expenses, and extra transportation.
Adding these expenses to the costs of maintaining a household, child care, and
college tuition can be financially overwhelming. Unfortunately, these added
financial responsibilities often continue after their r death. Life insurance provides
a source of funds that can be used to help pay for these expenses.
6).Business owner
She may be one of the increasing numbers of women business owners. If she die
while owning her business, life insurance can be used to provide cash for company
expenses such as payroll or operating costs while her estate is being settled. Also,
life insurance can be a useful tool for business owners structuring buy-sell
arrangements or providing benefits to key employees.
4 REASONS WHY WOMEN NEED TERM LIFE INSURANCE
49% of women are now in the workforce. Yet, 43% of these working women have
no life insurance. This means that a very large percentage of families are dependent
on the female income, yet that income isnt insured. A good portion of married
couples are dual-income providers and both incomes should be properly insured
for worst-case scenarios. It is even more essential for single moms to have solid
coverage to protect their family. Stay-at-home moms are not left out of this, as they
provide high value in the service and care they perform for their family. Women
need to be insured plain and simple.
4. Dual Income Dependence:
According to the Population Reference Bureau, in 2002 only 7% of American
households consisted of married couples with children in which only the husband
worked. That number has declined even further in the financial turmoil of recent
years. Families are dependent on both parents incomes and, in turn, both those
incomes should be adequately insured to provide family security.

12

2. Single Moms:
The US Census Bureau found that 79% of custodial single mothers are gainfully
employed. 50% work full time. Despite other sources of income, such as alimony
or child support, the income of a single mom is critical to the family she supports.
Many single moms are raising their children with little or no help from the outside.
What would happen if she was no longer able to provide?
3. Stay-at-Home Moms:
For the family that has Mom at home, sacrifices are usually made to make that
happen. The service and care she provides ads up quickly in value when tallied.
That value balances out the income not gained by her not being in the work force.
This means stay-at-home moms have tremendous importance in value that requires
being insured. If something were to happen, her spouse would be required to add
the cost of those services to his solo family income. Thats a recipe for disaster.
4. Women Have Arrived:
Just think, roughly 100 years ago women werent even allowed to purchase
insurance. The value of what women did wasnt considered worth insuring.
Obviously our nation has changed dramatically, and thats a ridiculous thing to
consider now. All women provide financial value to their family, and insurance
provides the safety net if she can no longer provide for whatever reason.

CHAPTER: 4

13

LIFE INSURANCE TYPES AND OPTIONS

Life insurance comes in many different sizes and shapes, and determining the
policy that meets her needs may depend on a number of factors. Understanding the
basic types of life insurance can help her to find the policy thats best for her.
Term life insurance
Term life insurance provides a simple death benefit for a specified period of time.
If she dies during the coverage period, the beneficiary name in the policy receives
the death benefit. If she lives past the term period, her coverage ends, and she get
nothing back. The cost, or premium, for the coverage can be fixed for the duration
of the policy term (usually 1 to 30 years) or it can be annually renewable
meaning that the premium can increase each year as she get older. However, the
premium for term insurance usually costs less than the premium for
permanent insurance when all factors are the same, including the death benefit.
Whole life insurance
Whole life is permanent or cash value insurance that provides insurance coverage
for her entire life. With most whole life policies, part of their premium is added to
the cash value account, which earns interest. Some whole life policies also pay a
dividend, which represents a portion of the companys profits made during the
prior year. The cash value grows tax deferred and can either be used as collateral to
borrow from the insurance company or be directly accessed through a partial
or complete surrender of the policy. It is important to note, however, that a policy
loan or partial surrender will reduce the policys death benefit, and a
complete surrender will terminate coverage altogether.
Universal life insurance
Universal life is another type of permanent life insurance with a death benefit and a
cash value account. A universal life insurance policy will generally provide very
broad premium guidelines (i.e.., minimum and maximum premium payments),
but within these guidelines she can choose how much and when she pay premiums.
She is also free to change the policys death benefit directly (again, within the
limits set out by the policy) as her financial circumstances change. But if she wants

14

to raise the amount of coverage, shell need to go through the insurability process
again, probably including a new medical exam, and her premiums will increase.
Variable life insurance
Variable life insurance is a type of cash value coverage that allows her to choose
how her cash value account is invested. A variable life policy generally contains
several investment options, or unaccounted, that are professionally managed
to pursue a stated investment objective. Choices can range from a fixed interest
unaccounted to an international growth unaccounted. Variable life insurance
policies require a fixed annual premium for the life of the policy and may provide a
minimum guaranteed death benefit. If the cash value exceeds ascertain amount, the
death benefit will increase.
Variable universal life insurance
Variable universal life combines all of the options and flexibility of universal life
with the investment choices of a variable policy. She can decide how often and
how much her premium payments are to be, within policy guidelines. With most
variable universal life policies, she get no guaranteed minimum cash value or
death benefit, but she can direct how your premium payments are invested among
policy unaccounted.
Joint and survivor life insurance
She and her spouse may choose to buy a single policy of permanent insurance that
covers both of their lives. With first-to-die, the death benefit is paid at the death of
the spouse who dies first. With second-to-die, no death benefit is paid until
both spouses are deceased. Second-to-die policies are commonly used in estate
planning to pay estate taxes and other expenses due at the death of the
second spouse. Other than the fact that two people are insured by one policy, the
policy characteristics remain the same.
Bottom line
Life insurance protection for women is equally as important as it is for men.
However, womens life insurance coverage is often inadequate. It may be time to

15

consult an insurance professional who can help her to assess her life insurance
needs, and offer information about the various types of policies available.

CHAPTER: 5

16

TYPES OF WOMEN INSURANCE POLICIES AVAILABLE IN INDIA

Bajaj Allianzewomen
Insurance

TATA-AIG Well
assurance
Women
Types of women
insurance

LIC Jeevan Bharti

HDFC Smart
Women Plan

LIC JEEVAN BAHRTI

FEATURES
Introduction
LICs 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

A. SPECIAL FEATURES

17

1. 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.
2. 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
3. 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.
4. 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.
B. 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.

18

(For details refer the sales brochure of Critical Illness rider)

(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 maximum 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/-)

19

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:

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Sum Assured (in Rs)

1,00,000 to 4, 99,999
5, 00,000 and above

Rebate per thousand Sum Assured

Rs 2.00
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 COVER PERIOD:
(i) If Critical Illness Rider is not opted for:
During the Auto Cover Period, the Life Assured can pay one or more instalments
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 thereafter.
(ii) If Critical Illness Rider is 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.

21

B. REVIVAL OTHER THAN DURING AUTO COVER 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.
The rider benefits will cease to apply if the policy is in lapsed condition and will
not acquire any paid up value.
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

22

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:
Suicide: 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 partys 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 women are not satisfied with the Terms and Conditions of the policy, women
may return the policy to us within 15 days.

BENEFITS
A. Survival Benefits:
On Survival the following benefits are payable:
For 15 Years Term
20% of the Sum Assured payable at the end of 5 years.
20% of the Sum Assured payable at the end of 10 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
20% of the Sum Assured payable at the end of 5 years.
20% of the Sum Assured payable at the end of 10 years.
20% of the Sum Assured payable at the end of 15 years.
40% of the Sum Assured payable together with vested bonus and Final Additional

23

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.

Statutory warning:
Some benefits are guaranteed and some benefits are variable with returns based
on the future performance of women Insurer carrying on life insurance business. If
women policy offers guaranteed returns then these will be clearly marked
guaranteed in the illustration table on this page. If women policy offers variable
returns then the illustrations on this page will show two different rates of assumed
future investment returns. These assumed rates of return are not guaranteed and
they are not the upper or lower limits of what women might get back, as the value
of women policy is dependent on a number of factors including future investment
performance.

Benefit Illustration
Age of LA (Yrs.)
Term (Yrs.)

35

Sum Assured(Rs.)

100000

Annual Premium

6345

20

24

E
n
d
o
f
Y
e
a
r

Tot
al
pre
miu
ms
pai
d
till
end
of
yea
r

Death Benefit during

the year
Variabl Total
e
Gua
rant
Sce
eed
na
rio
1

Sce
na
rio
2

Sce
na
rio
1

Sce
na
rio
2

10 10
634 1000 22 45 22 45
1 5 00 00 00 00 00
10 10
2 126 1000 44 90 44 90
90 00 00 00 00 00
13 10 113
190 1000 66 50 66 50
3 35 00 00 0 00 0
18 10 118
253 1000 88 00 88 00
4 80 00 00 0 00 0
5 317 1000 110 22 111 12
25 00 00 50 00 25

25

0
6

00

13 27 113 12
380 1000 20 00 20 70
70 00 0 0 0 00

15 31 115 13
444 1000 40 50 40 15
7 15 00 0 0 0 00
17 36 117 13
8 507 1000 60 00 60 60
60 00 0 0 0 00
19 40 119 14
571 1000 80 50 80 05
9 05 00 0 0 0 00
22 45 12 14
1 634 1000 00 00 20 50
0 50 00 0 0 00 00
36 75 13 17
1 951 1000 66 00 66 50
5 75 00 7 0 67 00
48 10 14 20
2 126 1000 90 00 89 00
0 900 00 0 00 00 00

26

E
n
d
o
f
Y
e
a
r

BENEFIT ON
SURVIVAL /
MATURITY AT
THE END OF
YEAR

Tot
al
pre
miu
ms
pai
Variabl
d
e
till
end Gua
of rant
Sce Sce
yea eed
na na
r
rio rio
1 2

Total

Sce
na
rio
1

Sce
na
rio
2

634
1 5

126
90

190
3 35

253
4 80

27

317 2000
5 25 0
0

20 20
00 00
0 0

6 380
70

444
7 15

507
60

571
9 05

20 20
00 00
0 0

20 20
00 00
0 0

1 634 2000
0 50 0
0

1 951 2000
5 75 0
0

48 10 88 14
2 126 4000 90 00 90 00
0 900 0
0 00 0 00

Section 45 Of Insurance Act, 1938:

No policy of life insurance shall after the expiry of two years from the date on

28

which it was effected, be called in question by an insurer on the ground that a

statement made in the proposal for insurance or in any report of a medical officer,
or referee, or friend of the insured, or in any other document leading to the issue of
the policy, was inaccurate or false, unless the insurer shows that such statement
was on a material matter or suppressed facts which it was material to disclose and
that it was fraudulently made by the policyholder and that the policyholder knew at
the time of making it that the statement was false or that it suppressed facts which
it was material to disclose. Provided that nothing in this section shall prevent the
insurer from calling for proof of age at any time if he is entitled to do so, and no
policy shall be deemed to be called in question merely because the terms of the
policy are adjusted on subsequent proof that the age of the life assured was
incorrectly stated in the proposal.
Prohibition of Rebates (Section 41 of INSURANCE ACT ,1938) :
(1) No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take out or renew or continue an insurance in respect
of any kind of risk relating to lives or property in India, any rebate of the whole or
part of the commission payable or any rebate of the premium shown on the policy
nor shall any person taking out or renewing or continuing a policy accept any
rebate except such rebates as may be allowed in accordance with the published
prospectuses or tables of the insurer provided that acceptance by an insurance
agent of commission in connection with a policy of life insurance taking out by
himself on his own life shall not be deemed to be acceptance of a rebate of
premium within the meaning of this sub-section if at the time of such acceptance
the insurance agent satisfies the prescribed conditions establishing that he is a bona
fide insurance agent employed by the insurer.
(2) Any person making default in complying with the provision of this Section
shall be punishable with a fine, which may extend to 500 rupees.
WHAT DOES LIFE INSURANCE FOR WOMEN COVER?
Life insurance for women covers what it does for men it is a way of ensuring that
in the event of women death, women will leave women family or dependants with
a lump sum that will allow them to continue with a standard of living that they
enjoyed while women were still here.
As more women than ever are now the main breadwinners in the family, making

29

sure women have life cover is essential, because if women were to die
unexpectedly or are taken seriously ill, women income the main source of
income would cease. This would cause significant problems for women loved
ones, who would potentially find themselves out of the family home if they could
no longer afford to meet the mortgage payments.
Despite this, many women still fail to get life cover to protect their family, in some
cases it is because they are staying at home to care for their family and dont see
their role at home as having any monetary value. But what many stay-at-home
mums forget is that the role they have is worth a lot of money, even if they are not
specifically getting paid for doing the work.
It could impact on the household finances further as the main breadwinner could
find themselves taking time off work to look after the children, which means that
not only would women family lose the value of the work of one parent, the second
parent may also see their income reduced as they need to reduce the hours they are
working.
SAVE MONEY ON WOMEN LIFE INSURANCE

Q.1) What types of life insurance is there for women?

Both men and women can get term assurance and whole of life
cover. Term assurance is a policy which is in force for a specific
period of time and is usually sold alongside a mortgage.
Lenders will generally want a way of getting their money back if
women die, and that is why one of the conditions is that women
have life cover alongside the mortgage. Term assurance is perfect
for this as it can be in force for as long as the mortgage term. So
often, these policies are in place for 25 years if women die
within this time, women will get a lawwomen. But if women live
longer than the policy is in place, it will simply expire and women

30

will no longer get a lawwomen if women die.

There are two types of term assurance: level term and decreasing
term. Level term means the lawwomen that is made if women
make a claim within the period the policy is in force stays the
same throughout the entire policy term.
Decreasing term means the lawwomen will reduce over the term
of the policy, usually this is in line with how the mortgage it is
written alongside is reducing over time. The premiums should also
fall as the lawwomen falls. an I take out life insurance during
pregnancy
Life insurance during pregnancy will be no different to a policy
women would get without being pregnant. But women may need
to consider some of women answer to the questions that the
insurer bases the premium calculations on.
Women weight, for example, will be higher than normal if women
are pregnant. So women should give the weight that women were
immediately before women became pregnant.
The amount of alcohol women drink and whether women smoke
or not may also is different women would probably not be doing
either while women are pregnant so women need to take that
into consideration too. How women deal with it will depend on the
questions women are asked, as some policies will be specific
about whether women have recently been advised for medical
reasons to give up alcohol. This will allow women to explain the
reason.
If this is not an option, women should speak to women insurer
directly to make sure women give all of the information that is
needed. Not doing so could result in women policy being deemed
invalid.

31

Once women have children, women may also want to consider

taking out a joint life policy so that if women or women partner or
spouse dies, women children will be taken care of. Joint policies
are usually cheaper than buying two separate policies, and
women can have joint life first death or, more rarely, joint life
second death.
With the former, the payment will be made when the first of the
two people named on the policy dies. The latter will only
lawwomen when the second person named on the policy dies,
which is why it is rarer.
The difference in premiums for men and women
Historically women have paid less for life insurance than men
because statistically they are likely to live longer and therefore
have more time to pay the premiums for an equivalent
lawwomen.
However, from December 2012, a ruling from the European Court
of Justice will be enforced which will mean it is no longer legal for
insurers to base premium costs solely on gender differences.

Q.2) Will the cost of life insurance for women rise?

As yet, it is not clear whether prices for women will rise, or they
will fall for men, or they will meet somewhere in the middle.
But if women had a policy in place before December 2012 with
fixed premiums, women should not see any premium increases as
a result of the change in the law.

32

The measures can take as a woman are the same as those taken
by a man. Changing some of the risk factors that insurers base
their premium calculations on will help to cut costs.
For example, if women are obese and women lose weight, women
premiums should fall. Similarly if women drink less alcohol, or
stop smoking and lead a healthier lifestyle, these will all be looked
favorably on by women insurer. Alcohol consumption, weight and
smoking all increase the amount women pay, so changing any or
all of these will cut costs.

HDFC LIFE SMART WOMAN PLAN

33

HDFC Life Smart Woman Plan, a life insurance policy for women that gives wings
to your aspirations. The plan ensures your savings grow leaving you free to pursue
your career and continue making a difference to those around you.

Women always wanted to make a difference in the lives of their loved ones. This is
what gives true happiness. In their own way, women did what it took to keep them
happy with their satisfaction always being a priority for you.
Now that you are independent and have complete charge of your finances, some
amount of planning can go a long way in fulfilling dreams for yourselves and your
loved ones.
Presenting, HDFC Life Smart Woman Plan, a life insurance policy for women that
give wings to their aspirations. The plan ensures their savings grow leaving them
free to pursue their career and continue making a difference to those around them.
It also provided options which cater to specific life events of women with respect
to their health, career and marriage.

FEATURES
Options to choose from 5 funds to suit risk appetite:
1.

Short-term Fund: Low capital risk as exposure is only to the short

term instruments (Max 3-year residual maturity)
2.
Income Fund: Higher potential returns due to higher duration and
credit exposure

34

3.

Balanced Fund: Dynamic equity exposure to enhance the returns

while the debt allocation reduces the volatility
4.
Blue chip Fund: Investments in large cap equities
5.
Opportunities Fund: Investments in mid-cap equities
You can select any of the 3 Benefit Options, each created to meet specific
needs such as:
1.
Pregnancy complications or birth of child with congenital disorder
2.
Diagnosis of malignant cancer of female organs
3.
Death of spouse (Only with Elite option)
Classic Under this option you can avail of premium waiver benefit with
funding of next 3 years premiums.
Premier Under this option you can avail of premium waiver benefit with
funding of next 3 years premiums and periodic cash payouts of 100% of next 3
years premiums.
Elite Under this option you can avail of premium waiver benefit with
funding of next 3 years premiums and periodic cash payouts of 100% of next 3
years premiums along with coverage for death of spouse.
Flexibility to choose the sum assured
Convenience to choose policy tenure of 10/15 years.

ADVANTAGES

Uninterrupted savings with waiver and funding of premiums for next 3 years
on the following events
1.
Pregnancy complications or birth of child with congenital disorder
2.
Diagnosis of malignant cancer of female organs
3.
Death of spouse (Only with Elite option)
Additional periodic cash payouts under Premier and Elite options
Flexibility to make partial withdrawals to meet contingencies
Avail of hassle-free annual premium payment option
Tax benefits subject to provisions contained under sections 80C and 10(10D)
of the Income Tax Act 1961
Paying premiums is convenient with access to multiple modes credit card,
internet banking, cheque, auto debit facility.

35

ELIGIBILITY
liabilityMin-Max
proposer entry age

18-none years

Min-Max entry ages

for female life to be
assured

18-45 years

Min-Max entry ages

of spouse for elite
option

21-50 years

Min-Max maturity
age for female life to
be assured

28-60 years

Min-Max age of risk

cessation for spouse
in elite option

31-60 years

Min-Max annual
Premium

Rs.24,000Rs.1,00,000

Min-Max sum
assured to
(age less than 45
years)

10x - 40x annualized

premium

Min-Max sum
assured to
(age equal to 45
years)

7x - 40x annualized
premium

Min-Max Policy Term 10-15 years

Age has to be taken as of "last birthday" basis

36

BAJAJ ALLIANZE

Women Insurance
Today's lady is an inspiration to her family.
She takes important decisions in every household and at work. To cater to women's
special needs we offer innovative women specific plans which provide investment
benefits, savings, retirement solutions and medical insurance? Our special plans
help mothers plan for their childrens education saves for the future and take care
of all medical emergencies in the family. Regular investment and savings plan,
offer:
Investments along with critical illness benefits which provide good returns, long
term saving and protection in case of a medical emergency Investment plans with
accidental coverage Children's education planning Specialized retirement income
plans for homemakers to provide a secure and financial future.
Education Plans for the Confident Girl Child
Is your little girl destined for greatness? Will she grow up to be successful? Your
princess can reach for the stars, but before she dreams you must do. Bajaj Allianz
offers Child Education plans, which help a parent secure education for their child.
A specialized plan known as Bajaj Allianz Child Gain offers a wide array of
solutions that allows you to plan for your daughter's future, including schooling,
higher education and marriage and also takes care of any uncertainties that may
happen along the way

37

Plans for the Confident Young Lady

As a young, confident woman, you are either studying to make your career or are
earning your own living and are financially independent. We at Bajaj Allianz offer
many products, which help check, plan and keep all your finances in order, as well
as take care of your other needs. Bajaj is a plan that helps you enter the Capital
Markets with no fear. While our special Motor Insurance Package Policy with

38

unique women-specific services makes sure that you can drive around, worryfree.
Plans for the Confident Home Maker
As a home maker of today, you are also the decision maker, unlike before. You are
equally aware of the outside world and are accustomed to being consulted by your
husband on decisions pertaining to finances. You also go out of your way to take
care of your family with your warmth and support in case of any illness and ensure
that your family members are treated with the best medical care. Saluting the
confident home maker of today, Bajaj Allianz offers two plans - Bajaj Allianz
Invest Gain and Bajaj Allianz Family CareFirst. Plans with a rider especially
developed for today's woman to give her that extra bit of confidence.
Plans for the Confident Future Grand Mother
A majority of women consider 'financial security' to be one of their top priorities,
yet most women feel they do not have the knowledge to address financial matters.
It is necessary to be financially independent, as it gives you a sense of worth and
purpose. Bajaj Allianz Future Income Generator is one plan which suits all.
Irrespective of age this is one plan which would ensure that you remain financially
independent in your golden years of life.
INSURANCE POLICIES DESIGNED FOR WOMEN

39

Life insurance is supposed to protect income. If something untoward happens to

the policyholder, the insurance policy provides money to replace his (or her)
income. Therefore, an insurance company will sell a large term cover only after
checking the income profile and tax returns. Even financial planners say there is no
need to buy insurance for a person who does not earn.
When the Hyderabad-based software professional was offered a term insurance
cover for his homemaker wife Swetha, he immediately bought it. He is paying Rs
4,200 a year for a cover of Rs 50 lakh for Swetha for a term of 43 years.
The company, AEGON Religare Life Insurance, believes that even homemakers
have an economic value for the household. "A homemaker has an intrinsic
economic value, though it cannot be substantiated by pay slips or income tax
returns. For instance, if she were to take up a job, it is obvious that the family will
have to incur some expenses for running the household. Therefore, the company
has decided to offer life cover to homemakers whose husbands (or wives) have
bought online term policy.
There is a ceiling of Rs 1 crore, and you will have to go through medical checkups
for covers of over Rs 30 lakh.

40

Many insurance products meant for women went off the shelves after the new
guidelines for endowment plans came in. Still, there are some policies that offer
benefits specifically aimed at women. While some of these benefits seem
attractive, buyers need to evaluate them before taking a final call. It's their utility
value, not the 'exclusively for women' label that should be the deciding factor.

TATA-AIG'S WELLSURANCE WOMAN:

While the need for life insurance for homemakers is debatable, there is no scope
for such doubts as far as health insurance is concerned. It is essential for working
women as well as homemakers. "Uninsured women are more likely to suffer
serious health problems as they tend to wait too long to seek treatment because of

41

the costs involved. Only 10% of the total women workforce has some kind of
health cover
The Wellsurance Woman policy is a combo of hospitalization benefit and critical
illness cover. It pays a lump sum in case the policyholder is diagnosed with any of
11 specified critical illnesses, including cancer, heart attack, and stroke and kidney
failure. It also pays out a daily cash benefit in case of hospitalization. But such a
policy should be taken only as an addition to the basic health plan that covers
hospitalization.
BAJAJ ALLIANZ'S CRITICAL ILLNESS COVERS:
The policy covers eight women-specific critical illnesses, including paralysis and
cancers (breast, ovarian, cervical, uterine, and vaginal and fallopian tube). "The
treatment protocol for such illnesses is not only lengthy but also expensive and
involves a lot of lifestyle modifications, such as giving up of job, ergonomic
modifications at home, and so on. Hence, the need for a product specifically
targeting this segment.

SPECIAL BENEFITS
1. Enhanced Allocation Rate of 102.5% per annum from 11th policy year
2. Waiver of charges on withdrawal/Switch during motherhood. 12 partial
withdrawals or switches will be waived, within one year from date of childbirth.
Bajaj Allianz Life Insurance Company in association with the winners of the
Pantaloons Femina Miss India 2009 pageant has launched a range of womenspecific plans.

42

The plans are available as: Child Gain for the girl child, Young Care for the young
lady, Unit Gain plus Gold for the home maker, Invest Gain, Family Care First and
Future Income Generator for the future grandmother and Motor Insurance for the
lady driver.
Some of the highlights of the plans are home pick up facility for renewal premium
payment, spot assistance for lady car drivers including assistance services like tier
replacement, key locked inside and survey at doorstep in case of small claims.

CHAPTER: 6
RESEARCH AND FINDINGS

Q.1) How old are you?

20-30.
30-40.
40-50.

43

Age
20-30
30-40
40-50

Response (%)
34
46
20

50
45
40
35
30
25
20
15
10
5
0
20-30

30-40

40-50

Analysis: in this the responded between the age of 20-30 are 34%, 30-40 are 46%
and 40-50 are 20%.
Q.2) what is your occupation?
Analysis: Here in this responses received from different kind of people belong to
different categories. The categories are divided into two parts male and female.
Like many of them were professors, teachers, student, housewives and others.

Q.3) Do you have Insurance Policy?

Yes
No
Variabl Response(
e
%)
YES
88%
NO
12%

44

12%

YES
NO

88%

Analysis: In this Question 88% people said that they have insurance policy
and 12% do not have insurance policy.

Q.4) If Yes, which policies do you have?

Policy Name
Response(%)
Life Insurance
47%
Health Insurance
29%
Med claim Insurance
11%
Vehicle Insurance
8%
Others
5%

45

50%
45%
40%
35%
30%
25%
20%
15%

Response(%)

10%
5%
0%

Analysis: Here in this, 47% people have life insurance policy as everyone are
concerned about their life and 29% have health insurance , med claim policy is
used by 11% people 8% people have taken vehicle insurance for their respective
vehicle and 5% is for other insurance policy.
Q.5) If No, why have you not taken?
Analysis: As mentioned in Question 3 that12% people have not taken insurance
policy they gave many reasons like some of them said now they dont need, some
of them said there is not a specific reason.

Q.6) Are you interested in taking a policy?

Yes
No
Variabl
e
YES

Response
(%)
65%

46

NO

35%

35%
YES
NO
65%

Analysis: In this 65% people said that they are interested in taking policy and 35
% said no.

Q.7) which companys policy have you taken?

Company
Name
LIC
Bajaj Allianz
Birla Sun Life

Response(
%)
53%
19%
17%

47

Others

11%

60%
50%
40%
30%
20%

Response(%)

10%
0%

Analysis: People have taken policy from various companies leading in insurance
business. 53% have taken policy of LIC, 19% of Bajaj Allianze, 17% Birla sun life
and 11% other companies policy.

Q.8) Are you aware that there are special policies available for women?
Yes
No

48

Variabl
e
YES
NO

Response
(%)
42%
58%

100%
90%
80%
70%
60%
50%

42%

58%

YES

NO

40%

Response(%)

30%
20%
10%
0%

Analysis: Awareness of women insurance is relatively less as 58% people dont

know about women insurance. Only 42% people are aware about this policy.

Q.9) If Yes, do you have one?

Yes
No

49

Variabl Response(
e
%)
YES
37%
NO
63%

Response(%)

37%
63%

YES
NO

Analysis: As awareness is not enough the number of policyholder is also less.

Only 37% people have taken women insurance and remaining have not taken.

Q.10) If Yes, please mention the name.

Policy Name
LIC JEEVAN BHARTI

Response (%)
39%

50

HDFC SMART WOMEN PLAN

Others

28%

33%
28%

39%
LIC
HDFC SMART WOMEN PLAN
33%

Others

Analysis: This is regarding the policyholder of women insurance. 39% have

taken LIC Jeevan Bharti, 33% have taken HDFC Smart Women Plan and 28%
belongs to others.

Q.11) If No, why have you not taken?

51

Analysis: Here in this question due to the lack of awareness of people regarding
women insurance many of them have not taken policy. That said they have already
taken another insurance policy and remaining said they are not interested.
Q.12) what is the benefit of this policy?
Analysis: As it is women insurance it gives large amount of benefits to them.
When people invest somewhere of course they expect something in return. Here
are benefits like benefits after retirement, it covers critical illness and there are
some special benefits also like:
1. Enhanced Allocation Rate of 102.5% per annum from 11th policy year
2. Waiver of charges on withdrawal/Switch during motherhood. 12 partial
withdrawals or switches will be waived, within one year from date of childbirth.

Q.13) How much premium do you pay?

Analysis: Premium is the most important aspect of insurance policy. Many of
them pay monthly ranging between 5,000-7,000 quarterly ranging between 10,00016,000 and yearly ranging between 20,000 and above.

52

Q.14) who pays the premium?

Self
Spouse
Husband
Particula
r
Self
Spouse
Husband

Response (%)
53%
27%
20%

60%
50%
40%
30%

53%

20%

27%

20%

10%
0%

Self

Spouse

Husband

Analysis: The premium is paid by self is 53%, spouses paid premium of 27%
and husbands pay premium of 20%.

53

Q.15) Are you aware of the benefits you get from women insurance policy?
Yes
No
Variabl
es
YES
NO

Response(
%)
64%
36%

36%
YES
NO
64%

Analysis: Here 64% people are aware about the benefits of women
insurance policy and 36% people are not aware.

54

Q.17) Do you think that there should be improvement in the awareness of

women insurance policy?
Yes
No
Variables
YES
NO

Response (%)
94%
6%

94%
100%
90%
80%
70%
60%
Response(%)

50%
40%
30%

6%

20%
10%
0%
YES

NO

Analysis: While talking about the improvement in the awareness 94% people said
yes there should be improvement and 6% said no.

55

Q.17) what is your annual income?

Lower
Middle
Higher
Incom
e
Lower
Middle
Higher

1,00,000-2,00,000.
2,10,000-4,000,000.
4,100,00& Above.

Range
1,00,000-2,00,00
2,10,000-4,00,000
4,10,000 &Above

Response (%)
33%
41%
26%

26%

33%

41%

Analysis: Here 33% people belong to lower income group, 41% belongs to
middle income group and 26% belongs to higher income group.

56

CHAPTER: 7
CONCLUSION

The existing research literature shows that while financial literacy is an important
basis for effective financial decision-making there are significant differences by
gender across a range of developed and developing countries.
People need insurance for a variety of reasons. In some cases insurance is required
by law; however, there are policies that, though not mandatory to have, do give
necessary protections should suffer a financial loss. And when people do have an
insurance policy, there are certain rights and protections they have under law.
Different stages of life will require different insurance needs, so it is important to
review policies at least once a year to make sure that the best policy to fit ones
lifestyle.
Due to which working womens as well as women who stay back at home suffers
many problems. To empower the rights of women and ensuring the safety of
womens in India many insurance companies are taking initiative to improve the
awareness of women insurance policy

Insurance companies have tied up with many other institutions to enhance their
productivity as well as benefits associated with it.
Due to lack of awareness of women insurance policy many womens are losing the
opportunity associated with it.
Overall women are the beautiful gift of god. Their protection and safety is
important which should be taken care each individual and citizens.
HUMAN RIGHTS ARE WOMENS RIGHTS,
AND WOMEN RIGHTS ARE HUMAN RIGHTS
-Hillary Clinton

57

CHAPTER: 8
RECOMMENDATION
As mentioned above there is lack of awareness of women insurance
policy the insurance companies should conduct seminars,
presentations, and awareness program.
It will ensure the greater productivity, profits, sales and income as
well as customer satisfaction.
The supervisors and managers need to explore the causes of the
dissatisfaction of womens within the working environment.
The insurance companies must invest in and adopt strategy that will
help to increase productivity and womens satisfaction.
The managers of the company should award and provides safety and
other special benefits to womens working within the insurance
company.

BIBLIOGRAPHY
WWW.LIC.CO.IN
WWW.HDFC LIFE INSURANCE .COM
WWW.BAJAJ ALLIANZE.COM

58

WWW.TATA-AIG.COM
HTTP://WWW.MANAGEMENTSTUDYGUIDE.COM
WWW.SCRIBD SLIDESHARE.COM