Why women need exclusive financial products?

it is just but a marketting gimmick only. i could not see any product which doesnot revolve around the bread winner. The working woman number is now increasing and there should be no different attitude if the bread winner be a lady.

Dear Aditya, there is no question of sympathy towrd womens specific needs, In insurance we have already covered all risk and gender related modelities when we fill proposal form for insurance and when we underwrite the same , even our (almost every insurance companies)actuaries aleardy comes with spl. mortality tables etc. and same is inbuilt in normal product.

Yes Maria is right and today there are more number of women in organization...so their needs are different from men..and today there is need of products in Insurance which are targetting women...so this is a very nice thought, which needs to be turned into action as soon as possible...

The percentage of women in the workforce in 2004 was approx 17% but this percentage is improving as more and more women are entering the workforce, the needs of women are very different from that of men. Yes financial products need to be designed keeping in mind the various needs of a women.

I dont see anything more than a new marketing technique. Because, all options are already available in investment world to suit every individual need wheather they are men. women, conservative, agressive etc

O.K. some of you are calling it a marketing gimmick. Though it is not. But  even if we say o.k. than we should understand that in Marketing gimmicks only work. Plane products might work or might not work but there is a high degree of chances that gimmicks will work. And we are talking of Insurance as business than we should make use of gimmicks as you say. thought it is not. It is completely different product that we are thinking about while giving women exlusive attention.

Mr. Dushyant Hada, probabaly you might be more aware of the nitty gritty's of the various products of the various companies. Your might be right when you say that actuaries have designed tables according to the needs of the women. But here we are talkig of women specific products. For example if there is a product which gives some funds in case of miscarriage or if all the expances of pregnancy are covered . If there is a product which gives wider protection to women in case there is a gyneacological (check the spelling) disorder. Work related stress is also different in males and females. If there is product which gives them protection for that than that also will be a welcome idea. Here we are only thinking of not only giving protection but also covering a part of a population which is not given full attention so to say. If you will give extra attention to them than that would be a selling proposition. And by designing that product you will attend to them. They will feel more honoured.

It is not a marketing gimmick, but an altogether new segment. However, the initiative of women banking needs adequate marketing. Every woman has financial needs, irrespective of whether she is a working woman and/or a homemaker. In a majority of Indian homes, women are the decision makers on many aspects. So it makes economic sense for banks to try and entice them with products tailored to suit their needs. Every piece of the banking package needs to reflect the unique way in which women view personal finance. Products like women’s credit cards, savings accounts for women, women-specific insurance products, non-collateralised loans for women entrepreneurs. And sops include easy repayment facilities, softer interest rates and inclusion in the priority sector category is a way to go..........

Great Idea Contest guys & really wonderful insights. Keep it up Meena for initiating it...More and more women are today becoming financially independent. Also, many of them have now become bread earners for their family, with both men and women contributing equally to family income and lifestyle. And yes, planning for women requires taking into account various additional parameters. They require specific financial products with more flexible and security features. Thus, if the various types of loan schemes are targeted at their changing financial requirements, some investment schemes try to inculcate in them the habit of investing, while women-specific bank accounts and credit cards look for meeting their lifestyle needs......