Why Should Women Invest In Term Life Insurance Unfailingly?

A woman is like a tea bag - you never know how strong she is until she gets in hot water. - Eleanor Roosevelt Women are no longer the "weaker sex" Today’s women are independent and stronger. They have a certain vibe about them, and emanate confidence and assertiveness wherever they go. 

Read more
Get ₹1 Cr. Life Cover at just
Term Insurance plans
Online discount
upto 10%#
Claim Support
Policybazaar is
Certified platinum Partner for
Claim Settled

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

Get ₹1 Cr. Life Cover at just
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
We are rated
58.9 million
Registered Consumers
26.4 million

Most women could probably agree that they enjoy being independent, self-assured, and mentally and physically strong, but getting to that point can seem challenging. And this is where a comprehensive life insurance cover comes to the rescue of women. Life insurance can help women look after their lives as well as offer armour to their family and dependents. It is true that a life insurance cover can never keep you alive forever, but it can definitely assist you in giving financial protection to your family as well as meet your financial objectives of life. If you are aiming to build your own dream realm, then you require thinking to protect it too independently.

Financial Express quotes Mrs. Santosh Agarwal, the Head of Life Insurance Unit at Policybazaar.com, as saying, “In India, over two-third of women is co-earners or in few cases, women are earners for their families; however, when we talk about the financial protection they depend on their spouse.”

Well, life Insurance cover can certainly change this situation and make women completely independent in several ways. Let’s discuss some of them:

Accumulate Lump Sum Wealth:

In addition to the fact that life insurance cover safeguards you, it also assists in crafting wealth for your future financial objectives. Do not get into the old traditional myth that if you buy a life insurance policy, then something unfortunate might happen to you. Rather, you must think that if you take a life insurance cover, something will add on to your life and assists you in protection and creation of wealth.

Protection of Household Finances:

Women play many roles. They become friends for their children, nurse for their aging in-laws and financial advisors for their spouses too. Similarly, life insurance plan does not only safeguard you but also assists you get along with your expenses when you require money, especially when you need money for your children’s higher education or marriage.

Retirement Planning:

A lot of insurance covers mature at the time of retirement and that is the time when you require money the most to pay the outstanding debts or to meet medical expenses. Hence, the amount produced by an insurance policy assists you in meeting such expenses.

Furthermore, plans such as whole life insurance covers can craft a financial legacy for your kids. Even different insurance covers can rally round in produce wealth for your family and dependents that can be incorporated in your Will (testament) for the duration of estate planning.

Why Term Insurance Plans?

A few people believe that the term insurance plans do not offer any benefit for the duration of one’s lifetime. So, why purchase them? But this insight is wide off the mark. Term plans not only offer the maximum cover to safeguard your family after your demise in comparison to other insurance policies, but a few plans also offer a range of benefits. For example, they cater benefit in some special diseases or cases.

Mrs. Agarwal says, “A term plan is one of the most vital insurance plans to earn for and individual. The truth is, nowadays females considerably play a part in managing finances of the household. Hence, it is, in the same way, important to make sure that their lives to cater financial protection to the dependents and family in case of any unforeseen event. In general, if the lady has dependents, she should plump for a term life insurance plan to cover the income loss.”

Benefits of a Term Insurance Plan for Women:

There are several benefits and advantages of term insurance plans for women. Some of these are listed below:

Monthly Income:

The company pays the amount in the case of disability by reason of any accident or any other ground as per the company’s terms and conditions. In that circumstance, you can receive a monthly income of a particular amount over an interval of time.

This append also has a cumulative option of income, wherein the income of the month received rises by a specific fixed percentage at the end of each year for which the earning is assured.

Critical Ill Health:

In the case any critical sickness or disease, you can receive a lump sum amount of maximum Rs. 20 lakhs. Critical Illness riders are marked out exclusively by the insurance company. Hence, you must check before you opt for it.

Double Sum Assured:

In case of any accidental death, you take a double sum assured then it will augment the sum assured by two times. For example, if a cover of Rs. 1 crore is taken by you through a regular term life insurance policy and have added up this conventional rider to it, then in such a situation, at the instance of death due to accident, instead of Rs. 1 crore the beneficiary is paid Rs. 2 crore.

Special Disability/Disease Rider:

A certain number of the term insurance policies cover a special ailment such as cancer for a particular period between the entire tenure of the cover. In some other term life insurance plans, the beneficiary of the policy holder receives a payout more than that of the sum assured in case of the demise of the policy holder or any disability happens because of the accident.

The intent to purchase a life insurance plan is to safeguard your family and dependents from any sort of financial complexity when you are not around. Insurance is an all-encompassing requirement and there is a need for females to get themselves insured in the vein of their male counterparts; the reasons are mentioned above. So, this article will help you plan to buy a better a wise life insurance for you as a woman.

You may also like to read: Why Do Women Need Insurance?

Different types of Plans

Term insurance articles

Recent Articles
Popular Articles
Best Term Life Insurance in USA

01 Feb 2023

A term life insurance in USA can secure your family against the
Read more
Tata AIA Term Insurance Login

26 Dec 2022

Tata AIA term insurance login portal offers the company’s
Read more
Why NRIs in UAE Should Buy Term Insurance Plans from India?

08 Dec 2022

Term life insurance plan secures the financial future of your
Read more
Best Term Life Insurance Plans in Singapore

07 Dec 2022

An NRI living in Singapore can easily buy the best term life
Read more
Bima Sugam

29 Nov 2022

Bima Sugam is an online marketplace that will offer its services
Read more
LIC Term Insurance 1 Crore
LIC of India offers various plans to help you secure the financial future of your loved ones. In order to make
Read more
What Medical Tests are Required for Term Insurance?
Term insurance offers a sum assured to the beneficiary of the policyholder upon their death that can help them
Read more
Term Insurance: Tax Benefits under Section 80D
Term Insurance provides financial security and protection to your family in case of your unexpected death within
Read more
2 Crore Term Insurance Plan
The pandemic has surely generated a global panic and emphasised the importance of financial planning that would
Read more
Types of Deaths Covered and Not Covered by Term Insurance
A term insurance plan is the best way to ensure the financial well-being of your family members in case of any
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.