Employment Status of Women and Its Impact on Financial Decision-Making: Special Reference to Life Insurance

A lot of people living in developed countries may not face any kind of discrimination based on gender or at least not to the extent some face in south east Asian countries. In my Country India even though women do participate in economic activity and they have all the constitutional rights yet they are not the decision makers when it comes to family property buying or selling or financial investment. In this study we tried to find out correlation between factors such as work force participation, level of education, level of income and marital status and its relations with the financial decision making. We have chosen life insurance because it is one of the dominant investment choices for working women making investment decision independently. The results show that among the independent variables level of education and off-course income do play a role in case of women making independent investment decision to buy life insurance. However, the strong notion that women who are employed will have more decision-making power when it comes to investment does not hold as per the results of our correlation test.