June 17th, 2023
A new study conducted in Mumbai has revealed the significant influence of demographic factors on women's decisions to invest in life insurance. The research examined the investment choices of 100 working women.
It found that age marital status education employment and income played key roles in shaping their decisions Specifically income emerged as the most influential factor while other categories followed them.
Middle-aged women (36–50 years old) constitute the largest demographic group purchasing life insurance, with a significant portion being married women. It was also found that women policyholders possess diverse educational backgrounds, with a notable proportion having professional studies or post-graduate degrees.
Women employed in the private sector comprise the majority of life insurance policyholders. It was followed by those in the public sector and self-employed individuals. Income distribution among women policyholders is diverse, with a significant proportion earning between 3 and 6 lakh per annum.
Factors influencing women's investment decisions in life insurance include employer suggestions, recommendations from friends and family, personal decision-making, and the influence of advertisements, spouses, and insurance agents.
Source:mumbailive.com
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