Women are under-insured in India, as per a report by Birla Sun Life Insurance. The report said that as of today, only 50 percent of women in the urban internet population in India have life insurance coverage as compared to 72 percent of men who have purchased life insurance solutions. These numbers are well below expectation when it comes to the total women population in India. Women comprise only 23 percent of Birla Sun Life Insurance’s (BSLI) overall customer portfolio. Pankaj Razdan, MD & CEO, Birla Sun Life Insurance said that we do not give due attention to the risks existing in a woman’s life, which is at times even more than a man’s. “It is therefore evident that that a woman should take cognizance of her importance in her family members’ lives and opt for solutions that offers protection against life risks, can be an emergency fund and will also fulfill her and her family’s financial goals in the future,” he added. The report said that only 26 percent women start insuring themselves early i.e. when they are in the age group of 20-30 years. This trend has not changed since inception of life insurance products.

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