FEMALE UNDERWRITING

A same Lady life may be occupying different positions in the family and in the society. As such, she may be eligible under one or all the categories. She should be placed in any one of the Category which is beneficial to the lady and insurance is granted according to the classification.

Female Live UnderwritingContext

Female lives in India experience higher mortality than Males at least up to a certain age. In certain sections-Moral Hazard (Dowry Deaths) Where moral hazard exists mortality rate will be comparatively more.

Category I (a)
Definition Additional requirements Women with earned income NIL
by virtue of employment in institutions eligible for insurance cover under NMS & employed with Govt., Quasi Govt., reputed commercial institutions ever if NMS is not introduced.

Proof of income
a) TRSA upto 15 lacs No income proof required. TRSA between 15 and 25 lacs F.No. 16A or CAs cert. or PFQ TRSA>25 lacs F.No. 16/16A or copies of ITRs for last 3 years.

b)

c)

Category I(b)
Definition
Women employed in commercial institutions with minimum educational qualification SSC or equivalent examination passed & minimum service with present employer one yr. The Firm/Company/Financial Institution should be estb. more than 3 yrs. ago

Additional requirements
i) ii)

Proof of income

Std. Age proof. Same as in Category I(a) Evidence of employment in the prescribed addendum iii) Addendum to the prop. duly signed by the proposer. * Format of addendum given

Category I(c)
Definition Additional requirements Proof of income
Same as Category I(a)

Professionals such as Std. Age proof Doctors, Lawyers, CAs, Minimum SSC for agents Architects, Engineers, Physiotherapist etc.& any insurance agent or carrying on any agency provided she is minimum SSC

Category I(d)
Definition Additional requirements Proof of income

Other self employed women i) filing income tax returns such as tailoring, ii) embroidering, beauticians, caterers, baby sitting, typist, data keying jobs, tuitions, self employed with ownership of shops, business premises with minimum education qualification HSC with professional qualification, wherever applicable

Std. Age proof or Copies of ITRs for NSAP-I any amount of TRSA Income Tax return for 3 yrs. (& 2 yrs., if started filing returns since last two yrs.

Category II (Max. Ins. 1 Crore)*

Definition Additional requirements Proof of income
Copies of ITRs for last 3 yrs (2 yrs if just started filing returns) or CA Cerft. only if PAN No. has been allotted and mentioned in the certf.

Women with unearned MHR by competent authority income/having sizeable personal properties and/or investment yielding income and filing income tax returns

*If technically qualified and taking active part in day to day running of business can be treated as category I subject to MHR by MM/SDM

Category III
Category III

Married Women

Widow

Single Women

With income

Without income

With income

Without income

Pension Compen- With income sation income

Without income

Category III Married Women (with income)

1)Self employed / having unearned income but not filling returns 2) Employed but not treated as category I

Maximum insurance
7 times of average annual income sub. to upper limit of 1 lac if illiterate or educated upto 8th std. And 5 lacs if educated upto 9th std. or above

Additional requirements
MHR by DO or a club member agent of DM & above (for direct agents, MHR by ABM(S) / BM)

Other restrictions

Category III Married Women (without income) Maximum insurance

15 lacs but not exceeding husbands insurance in force

Additional requirements
i) Husbands income details & proof is required Total insurance on his life as well as wifes life & on the lives of his dependant children (Funding Concept)

Other restrictions
Max. age at entry 60 yrs. Plans 43,52,58,88,133,150, 164,190. TR and CIR are not allowed. Max. SA under T-89 is 2 lacs& under Table 106, 107,108 is 5 lacs.

ii)

Category III Married Women (without income) CONTINUED

Maximum insurance
In excess of 15 lacs upto max. of 40 lacs, but not exceeding husbands insurance

Additional requirements
i) Proof of being a graduate and possessing either Passport or Credit Card or driving licence or mediclaim cover

Other restrictions

Category III Widow (with income) Maximum Insurance

Widows having their own income Maximum cover equal to 7 times of average annual income subject to 1 lac (at BO level). A further cover of Rs. 1 lac (at DO level) on merit of the case and adequacy of income.

Additional requirements
i) Sp. MHR by DO or Club member agent of DM & above (MHR by ABM(S) for direct agents) ii) Must have minor child or major children iii) Std. Age proof

Other restrictions
i) Age at entry less than 50 yrs. ii) T. Nos. 43, 52, 58, 88, 133, 150, 164 and TR and CIR will not be allowed

Imp ascertain exact cause of death of husband and year of death (to exclude possibility of death due to TB& HIV)

Category III Widow (without income)

Maximum insurance No insurance Annuity plan without any sort of risk cover can be given.

Additional requirements ------

Other restrictions ------

Category III Widow (Pension income)

Maximum insurance Widows getting family pensionMaximum cover is Rs. 2 lacs Additional requirements Proof of receiving pension Other restrictions Table Nos. 43,52,58, 88,133,150,164 and TR &CIR not allowed. Deferred Annuities (without life cover) and Immediate Annui-ties can be allowed without any limit

Category III
Widow (Received Compensation) Maximum Insurance Additional requirements
Received compensa-tion Proof of such from employers or claim compensation under insurance policies on life of their deceased husbands or lump sum from some other source 10 lacs on single premium basis.

Other restrictions
Only single premium policies under table Nos. 48, 162, 168 and 171 allowed. Deferred Annuities (without life cover) and Immediate Annuities can be allowed without any limit.

Category III Single Women (with income)

Definition
Self-employed but not filing income tax returns. Employed but not fulfiling eligbility conditions for Cat.I women. Unearned income but not filing income tax returns

Maximum insurance
Max. cover equal to 7 times of average annual income subject to: -1 lac if illiterate or educated upto 8th std. -5lacs if educated up to 9th std. or above

Additional requirements
Sp. MHR by DO or Club member agent of DM and above (for other direct agents MHR by ABM(S)/BM).

Category III Single Women (without income)

NO INSURANCE COVER TO BE ALLOWED

Female Category IV Female Students/Children below 25 yrs)

DEFINITION
The insurance on their lives will be accepted at par with male students/ children.

ADDITIONAL PROOF OF REQUIREMENTS INCOME

Insurance cover will depend on family income, parents insurance, insurance on the lives of other family members & class/professional course which is being pursued Insurance cover to them will be allowed provided the proposing parents have their own income & are sufficiently covered.

All other conditions applicable to male students aged up to 25 years will be made applicable to female students/children

Female Category IV Female Students/Children below 25 yrs)

Definition Maximum insurance Additional requirements
MHR by the competent authority should clearly indicate the source of income & social status of the life proposed

Major unmarried female TRSA 1 crore not students / children exceeding TRC on the lives of the parents

Minor female students / children The insurance on their lives will be accepted at par with male students/ children subject to a maximum limit of Rs. 50 lakhs

Funding from husbands income in respect of married women falling under Female Category I & II :

Funding from husbands income to married women falling under female category I & II is allowed subject to following conditions : a. Calculate maximum cover allowable to women a.Calculate falling under female category I & II on the basis of their own income as per the existing rules. b. If the maximum allowable cover is less than b.If Rs.40 lakhs, the shortfall can be funded from lakhs, husbands income.

Funding from Husbands income :

c. The amount of cover to be funded from husbands income will not exceed the insurance on his own life. d. Income of husband should be adequate for total rated up insurance on his own life, insurance funded on the lives of his children from his income and the cover to be funded on wifes life. e. No funding from husbands income will be allowed if the women falling under female category I & II are eligible for cover of Rs.40 lakhs or more on the basis of their own income

Funding from wifes income : a. Husband should be insured fully based on his own income. b. Additional cover to be funded by wifes income will be upto the amount of insurance on her life (duly rated up) and the additional cover to husband and her own insurance should be within the maximum permissible limit to wife as per present rules applicable to Category I and II.

Funding from wifes income :

Wives can fund insurance on the lives of their husbands subject to following restrictions : a. Wife belongs to Female Category I or II and a.Wife copies of ITRs or ITOs for last 3 years of wifes income are submitted alongwith the proposal. b. Wife should be the proposer under the proposal b.Wife being considered on the life of her husband and proposal form no.340 to be completed.

General guidelines in respect of female lives

Clause 4 (B) is to be imposed on married women (housewives) falling under Female Category III aged 18 years and above but less than and up to 30 years nearer birthday on the date of proposal. Medical reports strictly from female medical examiners only. DGH must be called for after one month.

Proposals on the lives of pregnant ladies

Proposals are submitted within the first twenty four (24) weeks of pregnancy Proposals will not be entertained under the nonnon-medical scheme. Full medical report (FMR) from our authorized medical examiner / DMR / TPA should be obtained as per existing rules

Proposals for cover in excess of Rs. one crore during the period of pregnancy could be considered only after referring to the reinsurer Pure Term Insurance plans and plans having higher term insurance element will not be entertained. Special Moral Hazard Report by the competent authority in Form No 3251 should be obtained in all cases irrespective of the sum proposed or SUC. In no case the proposal is to be entertained on the basis of the ACR.

All other special reports as per the special report chart except Chest X-Ray and XCTMT are to be called for. Report from the attending gynecologist in Form No 3341 (Revised) certifying that the lady is under his / her care will be required. Last check up report from the attending obstetrician / gynecologist will be required. Reports of any medical tests done during pregnancy will be required to be submitted

Additional report like Sonography to be called for if opined by DMR/ZMR after reviewing the attending gynecologist's report and other medical tests submitted The pregnant women should be falling under Female Category I & II only. Maximum cover during the period of pregnancy will be restricted to Rs one crore. The insurance cover granted should be reasonable in relation to the proposers income.

Proposals from pregnant ladies who had a normal full time confinement and normal delivery and without any past history of abnormal delivery or abortion (miscarriage) due to septic will be accepted on the same terms as for a woman not pregnant. Proposals from pregnant ladies with past history of complications or caesarian section to be accepted with a single extra of Rs. 2 per thousand (instead of lien of Rs. 500)

FEMALE NRIS
As per circular ref actuarial 2056/4 dated 25/02/200625/02/2006-cover on the lives of housewives & children residing in countries mentioned under residence group I-VII will not be Iallowed.