INDIA – Banks and insurance companies roll out special offers for women employees

With most urban women following some form of financial discipline, banks and insurance companies are looking to target them with specialised offerings. 

HDFC Life, which launched its Smart Plan life insurance plan targeted at women, has seen a gross premium collection of over Rs. 20 crore. “Nearly 23 percent of our customers are women and their savings and retirement are different when compared to men because of lifestyle changes like marriage, children and sometimes even death of spouse,” said Sanjay Tiwari, vice-president, product, HDFC Life. 

ING Vysya Bank is offering a two-in-one account for mothers and children. “Under this, mothers can set up a minor account linked to their salary account,” Sonalee Panda, group head, private banking, wealth management, ING Vysya Bank said.