Life Insurance For Women
Many women shun having any type of life insurance because of the lack of life insurance plans for women. But, here are five life insurance plans for women that are worth your time and specifically designed for the benefit of women who shoulder many responsibilities not just at home but, at work too!
*The market is continuously changing and so, these best life insurance policy for a woman will also face the inevitable change.
Life Insurance Plans For Women
1. HDFC Life Smart Women ULIP
The reason why we love these life insurance plans for women is because it covers what many insurance companies are unwilling to cover – pregnancy complications. This insurance plan was designed as an investment and as an insurance plan (ULIP).
What The Plan Covers
- Insurance as well as investment
- Can be purchased online or in person.
- Proper coverage in the case of any pregnancy complications.
- Coverage in the case of critical illnesses like cancer of the female organs.
- A certain amount is offered in the case of the spouse’s death.
- The insurance provider offers up to 40 times the annualized premium.
- Can be purchased as either a Classic package, Premium package or Elite package, according to the lady’s wish.
2. TATA AIG Well
These life insurance plans for women offered by TATA AIG provides the woman with the benefits of health protection and family financial safety. The amount is paid to the beneficiary even in the face of 11 types of critical illnesses that she might face.
What The Plan Covers
- Coverage in the face of 11 types of critical illnesses including cancer of the female organs.
- The benefit of daily hospital cash is available.
- Provides recovery coverage after hospitalization.
- Immediate cash is provided in the face of an accident within the first 90 days of the policy being activated.
- Educational benefits are provided to the children in the face of an accidental death.
3. SBI Life Smart Women Advantage Plan
The SBI Life Smart Women Advantage Plan is one of the best life insurance plans for women! The reason I say this is because it provides not only protection but is also the benefit of saving. It is best if you are opting for all three coverages – life insurance, critical health coverage and long-term savings for your future.
What The Plan Covers
- Benefits of life coverage, savings, and coverage in the face of critical illness.
- Two plans available – Gold and Premium.
- The insurance holder can choose the amount assured to the beneficiary in the face of death or in the case of a critical illness being diagnosed.
4. LIC Jeevan Bharathi-I Plan
LIC is one of the most trusted life insurance companies in India. It is to no surprise that they offer life insurance plans for women. But, what makes this plan unique is the fact that it is a cash-back plan. This means that every few years a certain amount of the premium paid to given back to the insurance holder, based on the amount paid in the first place.
What The Plan Covers
- Specifically for women
- Cash back benefits that ensure that every 5 years 20% of the sum paid is returned to the holder.
- Acts as coverage as well as a savings policy.
- Provides the insurance holder with various add-on benefits.
5. Shriram New Shri Vivah Plan
This particular plan was designed as ladies insurance in the face of marriage and other benefits that are mentioned below.
What The Plan Covers
- The insurance holder has the option between a limited premium package or a regular premium package.
- The plan provides a double benefit of a monthly income and a lump-sum payment.
- Any woman between the age of 18-50 can apply for this plan, although the maximum maturity is set at 70 years.
- A minimum of 105% is payable of all the premiums paid.
