Income Replacement Insurance for Women

An income replacement plan ensures the monthly income for the family in case of an untimely death of the earning female of the family. With income replacement insurance, your family can maintain their current quality of life even in your absence. Let us learn more about an income replacement term plan and its benefits.

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What is Income Replacement Insurance for Women?

Income replacement insurance for women is a term insurance plan that offers the death benefit to the family of the female policyholder in regular installments as a replacement of income in case of the female policyholder’s death. These plans are best suited for working women and housewives as the payout from these plans can help the family financially recover from the loss of a loved one. The nominee may use the benefit amount to pay off any remaining loans, pay monthly expenses, or pay for the child’s fees.

Note: Know what is term plan first and then buy a term plan for your loved ones.

Note: It is suggested to calculate the term plan premium on the term policy calculator online tool by Policybazaar before buying.

How Does Income Replacement Insurance for Women Work?

Let us understand how income replacement plan for women works with the help of an example:

Kriti bought a 1 crore term insurance as her income replacement plan to secure the financial future of her dependent parents. She opted for the policy to cover her till 60 years of age and selected the death benefit payout option as monthly income. Kriti, unfortunately, met with a terrible accident in the 9th policy year, and her dependent parents were left emotionally and financially unstable. Thankfully, they submitted the claims form and started receiving the monthly payouts to help take care of their financial needs. They used the amount to pay for the funeral costs and other financial obligations.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What are the Benefits of Income Replacement Insurance for Women?

Here is a list of the benefits of buying income replacement plans for women in India:

Death Benefit for the Family: An income replacement term plan ensures the financial future of the woman’s family in her absence by offering a guaranteed death benefit. The family can use the benefit amount to pay for financial obligations like rent, child’s fees, or any other expenses that may arise.
Take Care of Future Inflation: With income replacement insurance for women, your family can take care of future inflation and live a financially stable life in your absence.
Peace of Mind: An income replacement plan offers you much-needed peace of mind, as it guarantees the financial stability of your loved ones in the event of your untimely death.
Tax Benefits: Term plan with income replacement insurance for women offers tax benefits u/s 80C and 10(10D) of the Income Tax Act, 1961.

Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.

What are the Key Features of Income Replacement Insurance for Women?

The following are the key features of income replacement term insurance for women offered by Indian insurers:

Affordable Premiums: Income replacement plans for women are available at the most affordable premiums compared to other types of life insurance. This allows you to get long-term protection at low premiums.
Large Sum Assured: With an income replacement term plan for women, you can secure a large life cover amount for your family in your absence. The ideal cover amount for your profile depends on your age, current annual income, and existing life cover.
Long Term Coverage: An income replacement for women provides long-term coverage that can be extended till 99 or 100 years of age. This way, you and your family can stay protected under the plan for the long term and live a stress-free life.
Premium Pay Options: You get the option of selecting the most convenient premium payment options like monthly, quarterly, semi-annual, or annual premium payments.
Quick and Easy Claims: Insurance companies in India offer a quick and easy claim settlement. Nominees can simply submit the filled-out claim form with attached documents to initiate the claim process.

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Wrapping it Up

Income replacement term plans for women should be an essential part of every woman’s financial portfolio. You can use the income replacement plan to ensure your family's financial stability in case of an eventuality like death, disability, or illness. However, before buying the most suitable income replacement term plan for women, you should always compare the available plans and select the plan best suited for your profile.

Note: Check out the best term life insurance in India and choose one that suits your requirements.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month 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 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/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 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/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 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/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 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 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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