Kathmandu. According to a study report by the Nepal Insurance Authority, the number of women in the insurance cover of micro life insurance in Nepal is higher than that of men.
The number of females in Nepal’s total population is higher than that of males (female-to-male ratio 51.9:48.1). Women have more access to life insurance than they have access to insurance. Thus, looking at the general statistics, it is natural that the participation of women in life insurance is more than the majority of the population. However, which gender population is more at risk?
According to the NRA, 48 percent of the population is covered in the insurance cover on the basis of number of insurance policies. Due to the mandatory provision of foreign employment term insurance, the number of male workers is more in this reach. Due to men’s purchasing power and dominance in family decisions, men have more access to term life insurance than women. Overall, women are more likely than men to be covered by insurance.
Despite this, is it a matter of pride or concern for the NRA that the number of women in the overall insurance coverage is more in terms of numbers?
According to the study report on micro insurance business in Nepal recently published by NEA, the fiscal year 2079. In the 80s, the male insured dominated the small life insurance, but in recent years, there has been a radical and positive change in the participation of women. Fiscal Year 2079. In FY80, a total of 219 micro insurance policies were issued, while the male insured was 65.75 percent. Since 81, the number of women insured has increased significantly to 69.49 percent. The following years are fiscal year 2081. 61.41 percent in FY82 and fiscal year 2082. As of mid-March 2018, 61.43 per cent of the participation of women is seen.
The study committee, which also includes NRA Executive Director Sushil Dev Subedi, concluded, “This data has established a strong foundation of gender inclusion in the total insurance policy.” It is clear that the authority is proud here. However, within the country, women’s participation in the labor force and hazardous work is low compared to men.
What does the labor force survey say?
Nepal Labour Force Survey 2074 published by the National Statistics Office. Article 75 clearly states, “Occupations other than agriculture, fisheries and herbal farming are dominated by men as compared to women.” Still, 78.4 percent of the workforce involved in iron-related work is considered the most risky. Male workers constitute 94.7 percent of the industrial workforce. Although female labour force participation in high-risk sectors is much lower than that of men, women have higher life insurance coverage.
Whose responsibility is it to cover at-risk men?
It is not a matter of concern that more women than men are covered under the insurance cover. What is worrying is why purely at-risk men are not covered by life insurance? In our society, where men dominate both purchasing power and purchasing decisions, what is the social, family or economic motive behind including women under the protection of life insurance? The NRA should study in detail about the contradictory situation where men are at risk but women are included in the safety net.
The NRA should take the initiative to include men involved in risky professions in the safety net of life insurance in policy and compulsorily.
