Page 23 - IC23 life insurance application

Smaller families also mean a higher standard of living and therefore greater need to

provide for all eventualities like death, disability or old age. Smaller families also

mean more surplus money which needs to be wisely invested. Analysis and

understanding the special needs of each family provide unique selling opportunities.

3) Double income families and their spending patterns:

With the spread of education among women and spiralling cost of living, most

youngman would like to marry a working woman. The double income family is

necessarily better placed economically than a single earning family. Be not under the

impression that a double income family needs no insurance as it can fall back upon

the surviving earning member. A double income family lives a much higher standard

of living, and would like to maintain it under all circumstances. Its dreams and

aspirations would crash with the stoppage of any single income.

An agent would do well to keep an open mind while approaching this market which

holds rich rewards.

4) Changing buying patterns, specially home, car and other comforts of life :

Today's young man is in a hurry. Long gone are the days when the parents used to

save for months to buy the child a bicycle or a scooter. They would probably save for

a lifetime to buy a home which they could call their own. Today pattern of life style

does not allow so much waiting period. An young man with a good education and

training can look forward to a starting income in five figures. The money market with

lending institutions which are eager to lend for anything - Car to TV, washing

machine to a foreign holiday is ever present to help out to any-body who cares.

Possesing a house of one's own need not be postponed till the end of the saving

Copyright Dr Rakesh Agarwal Sashi Publications Private Limited

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010