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Insurance Policies For Women Research Team | Posted On Saturday, December 30,2017, 06:51 PM

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Insurance Policies For Women



Women are the money managers of the family. They not only take care of kids, they also help save money for the family. The woman in the family, whether an earning member or a home-maker, must avail an insurance policy. Insurance for women will serve a lot of purposes such as long-term savings goals, children's education and retirement goals.

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Take a look at some of the insurance policies for women

1. Term Life Insurance Plans


                                   Term Life Insurance Plans


Availing term life insurance is the first step towards gaining financial security. Every working individual, whether a man or a woman, should avail term life insurance. A single mother must take term life insurance, as she has kids to take care. Women play multiple roles in their families. So, availing term life insurance will give financial assistance to their family members during their absence.

Women pay a lower term life insurance premium than men, as they have a higher life expectancy.  On the demise of the policyholder, the entire sum assured is paid to the nominee. This money can be used to give children, a good education and a quality life.

Some insurers provide various riders along with the term life insurance plan such as a Cancer Cover, Critical Illness Cover, Disability income rider and so on. You have to pay a higher premium for these benefits.

SEE ALSO: Online Term Life Insurance Plans In India

2. Health Insurance Plans

                                               Health Insurance Plans


Nowadays, medical treatment in a reputed hospital can be a costly affair. Your pockets will be empty in no time. So, it is necessary to avail health insurance. Some people simply depend on the health insurance provided by their employer. The problem here is, you won't be given a large sum assured in the employer health insurance plan and you will be left uninsured, if you lose or change your job. 

Medical expenses are rapidly increasing each year. So, you must avail health insurance, with at least a cover of Rs 5 Lakh. If you don't avail health insurance, you will end up spending your savings on medical treatment.

SEE ALSO: Advantages Of Buying An Health Insurance Plan

3. Cancer Insurance Plans


                                                Cancer Insurance Plans


Cancer can strike without warning. One in every eight deaths in India is caused by cancer. There are more than 200 types and sub-types of cancers, that can affect you.

Among women, the most common types of cancers are breast, ovary, lip and oral cancer, lung and cervix cancer. So, it is necessary for women to buy cancer insurance. Cost of cancer treatment may damage a family's  financial condition, as the cost of cancer treatment, chemotherapy, and hospital charges are very high.

SEE ALSO: ULIPs to Secure Childs Future

4. Unit Linked Insurance Plans





Unit Linked Insurance Plans provide two benefits, they are Insurance + Investment. Under ULIPs, part of the premium paid will be used to give you an insurance cover and the other part will be invested either in equity or debt. 

ULIPs are the best tools to invest money and achieve long-term financial goals. Under ULIPs, an individual can switch between equity and debt, free of cost. Investing in ULIPs is the best option for women, if they have a high disposable income, as the returns in ULIPs are really good if you stay invested for long-term.

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