Finance Forward: How Bandhan Life is Crafting a Gender-Equitable Future

Once upon a time, Savitribai Phule, a young woman from Maharashtra, faced fierce opposition for daring to open the first school for girls in India in 1848. But despite societal disapproval, she persevered, laying the groundwork for generations of girls to receive an education and break free from limitations. Her story, like countless others, exemplifies the ongoing fight for equality and the immense potential that lies within women in India.

The landscape is changing. The female labour force participation rate is inching up, but still only 21% of Indian women are financially literate, according to a 2020 RBI survey. That's a lot of untapped potential, don't you think? This translates to limited access to financial products and services, hindering women's ability to build secure futures for themselves and their families.

Thanks to the internet, UPI, and our newfound love for digital transactions, women are starting to claim their financial freedom. Yet, with only 23% of Indian women, who know about financial planning, we’ve got our work cut out for us.

At Bandhan Life, in our quest to secure every Indian household financially, we have realised the importance of financial inclusion of women in achieving this goal. We’re not just sitting back but actively levelling the playing field.

Customised Products and Propositions:

Tailored Insurance for Homemakers: Recognising the unsung heroes at home, we’ve introduced a term insurance policy proposition for homemakers. Because let’s face it, the impact of losing a homemaker is immeasurable, and we’re here to acknowledge and protect against that.

Supporting Surrogate Mothers and Egg Donors: Breaking new ground, we’re the first in India to extend a helping hand with life insurance covers specifically designed for surrogate mothers and egg donors. It’s our way of backing every woman’s journey towards motherhood.

Striking the Gender Balance Within Bandhan Life:

At Bandhan Life, gender equality isn't just a goal; it's woven into the fabric of our operations. Women at Bandhan Life lead, brainstorm, innovate and strike an amazing work-life balance at the same time.  

Our work-from-anywhere policy has helped us hire and retain the some of the most talented women from across the country. While most women drop out of the workforce post-childbirth, our robust maternity leave program demonstrates our commitment to supporting women throughout their careers.

These initiatives benefit women and contribute to Bandhan Life's success, making us a more vibrant and innovative company.

So, What's Next?

As we toast to International Women’s Day, let’s not just clap for the progress. Let’s pledge to push harder, go further, and build a financial world where gender equality isn't an achievement but a given.

Ready to join us in making every day a step toward greater equality? Because at Bandhan Life, we believe in cheering not just for the women leading the way but for every woman walking this journey with us.