Life insurance is a critical part of any financial plan, and term insurance is one of the most affordable and effective ways to provide financial protection for your loved ones. While traditionally seen as a product meant for breadwinners, term insurance for women is just as essential, whether you're a working professional, a stay-at-home mother, or a single parent.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
Let us understand the importance of term insurance for women in the U.S., its benefits, and how women can buy the best coverage for their needs.
Many women today manage both professional responsibilities and family life. Whether you're contributing financially or taking care of the household, your role has significant value, both emotionally and economically. If something were to happen to you, term insurance ensures your family is not burdened with financial uncertainty.
Here’s why women should consider buying a term insurance policy:
Income Replacement: Your family income may depend on it for monthly expenses, children’s education, and loan repayments.
Cost of Services: Even if you're not earning, the work you do at home (childcare, cooking, household management) would cost thousands of dollars to replace.
Debt Protection: If you have co-signed loans or personal liabilities, term insurance ensures your family won’t have to repay them alone.
Peace of Mind: Knowing that your family will be taken care of with insurance for life in your absence provides emotional and financial peace of mind.
Term Plans
Term life insurance offers coverage for a specific number of years (such as 10, 20, or 30 years) and pays a death benefit to your beneficiary if you pass away during the policy term. For women, this simple and cost-effective product can be customised to meet individual financial needs.
Affordable Premiums
Women typically pay lower insurance quotes than men for the same coverage, thanks to their longer average life expectancy.
Customizable Coverage
You can choose the coverage amount and term based on your income, debts, children’s needs, and long-term goals.
Optional Riders
Add-ons like critical illness cover, accidental death benefit, or waiver of premium can enhance your protection.
Tax Advantages
In the U.S., your beneficiaries typically receive the death benefit tax-free under federal law.
Support for Young Mothers
Stay-at-home mothers can also qualify for term insurance, especially if their partner has a policy. Insurers recognise the economic value of domestic work.
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The best time to buy term insurance is when you're young and healthy. The earlier you purchase, the lower your premiums will be. However, major life events like marriage, childbirth, starting a business, or taking a loan are good life stages for purchasing coverage.
While there’s no one-size-fits-all answer, a general rule is to buy a policy worth 10 to 15 times your annual income. If you’re a homemaker, consider coverage that reflects the cost of services you provide. A Human Life Value (HLV) calculator can help estimate the ideal sum assured based on your lifestyle and financial responsibilities.
Indian women living abroad (Non-Resident Indians or NRIs) may prefer buying term insurance for NRI from India due to:
Lower Premiums: Term life insurance plans in India are up to 40-50% more affordable than international term plans.
GST Waiver and Additional Discounts: You can claim an 18% GST waiver on term insurance premiums paid via an NRE (Non-residential External) bank account that supports freely convertible currency.
Pre-approved and Global Cover: Term insurance for NRI from India offers up to 5 Crores of pre-approved cover that continues irrespective of your geographical location.
Smart Exit Benefits: The smart exit benefits allow you to exit the plan early and receive back all the premiums paid during the policy term.
Tele/Video Medicals: You can easily clear your medicals online with the tele/video medicals and not worry about having to visit India just to get your medicals cleared.
Term insurance for women is not a luxury, it's a necessity. Whether you live in the U.S., India, or are an NRI managing life between both countries, the right term plan gives your family financial protection when they need it most. With affordable premiums, custom coverage options, and the ability to support your dependents across borders, there’s no reason to delay. Platforms like Policybazaar make it easy for women, including NRIs in the U.S., to compare, buy, and manage term insurance plans from leading Indian insurers, all from the comfort of your home.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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