Term Insurance: Discover the Surprising Benefits of Term Insurance Every Indian Woman Should Know

Term Insurance Policy for Women: Term Insurance is a type of life Insurance policy that provides content for a specified period. Term Insurance for women is specifically designed to fulfil women’s requirements and provide fiscal security to them. Term Insurance for women is an Insurance plan that offers death benefits to the woman’s family in case of the policyholder’s unfortunate death during the policy term. These plans give large content for a long policy term at low decoration rates. The payout from this policy can help your family maintain their current quality of life.

Only 50 Percent of women in cities of India have Insurance as compared to 72 per cent of men and in the village, this data is veritably low. Unfortunately,  Term life Insurance among women is still not veritably common, even though numerous studies indicate that women are more prone to critical illnesses. Women are also likely to go through childbirth or suffer from health consequences as a result of it. So, every woman should go for Term Insurance for her and her family’s safety.

There are Numerous Reasons to Buy Term Insurance for Women:

Financial Protection:

Term Insurance provides fiscal protection to your family in case of your unanticipated death. The insurer pays a death benefit to your heirs, which can help them cover charges similar to loan payments, living charges, or your children’s education, and give quality of life in your absence.

Critical Illness Benefits:

Health conditions like bone and cervical cancer are specific to women and have become more and more common in women. Term Insurance provides critical illness benefits along with Life Insurance offers a sum assured in case you’re diagnosed with Severe illness.

Comfortable post-retirement life:

The growing pollution, adding probability of conditions, and general living charges can make it difficult to survive on a single person. Term Insurance plans provide facilities to women who can bank upon their policy for regular payouts or survival benefits after maturity. This can help couples lead a better standard of life post-retirement, without having to depend on their children for help.

Tax benefits:

Term insurance programs offer duty benefits under Section 80C of the Income Tax Act, 1961, which allows for a duty deduction on the decoration paid up to a certain limit. Also, the death benefit paid to the heirs is duty-free under Section 10( 10D) of the Income Tax Act. This makes term Insurance for women an ideal fiscal result.

Features of Women’s Term Insurance Policy:

• Numerous Insurance Companies offer their Policyholders that give content for critical Illnesses that are more common among women, similar to bone cancer, ovarian cancer, or cervical cancer. The Term Insurance can give fresh fiscal protection in case of a serious illness.
• Some Insurance Companies offer content for gestation-related complications, similar to aspire-eclampsia, gravid diabetes, or complications during parturition. Term Insurance can give fiscal protection for medical charges.
• Some Insurance Companies offer their policyholders that give content for your child’s education or childcare charges in case of your unanticipated death. Term Insurance can give fresh fiscal protection for your children’s unborn requirements.
• In the sector of Insurance Women may be eligible for a lower premium rate than men owing to their longer life expectancy and lower threat of certain health conditions.
• Some policy companies offer a disclaimer of decoration rider, which allows you to skip ultra-expensive payments if you come impaired or are unfit to work due to an injury or illness.

Types of Term Insurance Plans for Women:

• Level Term Plans
• Return of Premium Plans
• Increasing Terms Plans
• Dwindling Terms Plans
• Convertible Term Plans

Top 05 Term Insurance Plans:

• HDFC Life Smart Woman Plan
• Tata- AIG’s Wellsurance Woman Policy
• Bajaj Allianz Women Specific Critical Illness Insurance Plan
• Reliance HealthGain Policy
• New India Asha Kiran Policy

Conclusion:

Term Insurance plays a vital role in Women’s Lives. Life insurance not only helps you and your family in unfortunate times, but it also empowers you and gives you a sense of fiscal security throughout life. It’s veritably important for women to realise the significance of getting themselves ensured and for men to encourage the women in their lives to do the same.