Max Term Plan For Housewives

Max Term plan is the safest option for a housewife if you want to buy a term insurance plan. It offers you better returns at low premium rates. Let’s understand in detail about Max term plan for housewife: 

Max Term Plan For Housewife 

Max Life Insurance Company Limited, a leader in the insurance industry, is a joint venture between Max India Limited and Mitsui Sumitomo Insurance Company Limited. The company offers a wide variety of term plans that promise to fulfil the customer’s requirement on a go. Max term plans also provide better options for housewives like the premium amounts are comparatively lower for female lives as compared to men. The entry age of a term insurance plan is from 18 years to 65 years. 

• You can purchase Max life term plan online 
• It provides you an option of 3 death benefits 
• Availability of riders such as accident benefit rider and waiver of premium rider. 
• Premium discounts for females
• Get the tax benefits on the paid premiums as per the prevailing laws of the Income-tax act. 

Mrs. Kapoor is a housewife and a homemaker. She loves staying at home and taking care of her children, their studies, house bills, food, and laundry which is needed in a house for a good lifestyle. But now she has started wondering can she also avail term insurance plan? But as a housewife, it is very important to know why do you need a term insurance plan. Here we have discussed some of the reasons which highlight the necessity of a term plan for you and your dear ones. 

1. Financial Protection 

   While you are not directly contributing to the financial status of your family, but in case if something happens to you, the payout from a term insurance plan will help your child in fulfilling his/her dreams. It also helps your loved ones to pay for long- and short-term future goals. Thus, whether you are employed or not, term insurance is a necessity as it provides financial security to your family. 

2. High Coverage At Low Premiums 

   Term insurance is the safest type of plan that provides financial protection and security for your family. It provides an amount (coverage) to the policyholder’s beneficiary in case of any unfortunate event. You can purchase a Max term plan for housewife at low premium rates with better returns. A premium rebate is also provided to a female that depends on the term and conditions of the policy. 

3. Joint Life Cover 

   In this, both husband and wife are the equal owners of the policy and if someday any unfortunate event happens to any one of them, the surviving one would be able to receive the benefits of life cover. In such situations, you both are prepared and secure to face any exigencies that would arise in the future. 

4. Retirement Funds 

   If you want to increase your available amount during the golden years of your lives i.e., after the retirement years. It is very important to invest in an annuity/pension plan. A pension plan will take care of you and it also makes sure that you have enough amount of money or funds to pay for your medical expenses, and other living expenses. If you are not an employed woman, then also you can think of purchasing an annuity/pension plan for your long-term requirements. 

5. Coverage For Your Long-Term Future Objectives 

   Max Term plan for housewife also offer survival benefits during the pre-specified policy years. These payouts help you completing the future goals of your family such as child’s marriage, marriage expenses, and other related expenses. So, if you are looking out for a plan that provides you the guaranteed payouts, ensure to go for a life insurance plan that has a money-back feature. 

6. Additional Benefits – Riders 

   Riders are the add-on coverages that enhance the policy’s coverage. Along with your base insurance plan, you can also opt for a rider benefit that provides you sufficient protection and stability. Few riders available with life insurance plans are accidental death benefit rider, critical illness, accidental death, and disability riders. 

Wrapping It Up!

Max Term insurance plans should be purchased by an individual who is looking out for financial security and stability. So, if you are a housewife, and thinking of buying a term insurance plan, then always make sure to compare various plans offered by different insurers. One should always be aware of the key features, benefits, and terms and conditions of the policy. Investing in term insurance is a smart decision for a housewife.