Term Insurance (Women)
Women who have chosen family over profession, and dedicate their lives in the best interest of children, husband, or parents deserve financial stability too! If the breadwinner is no longer there to save the interests of his life partner, the insurance cover will at least soften the blow to a certain extent. As people become more sensitive to the plight of women in the family, insurance companies are quite happy to fulfill the requirement with customized policies.
Insrers such as : maintain that homemakers too have an economic value in the house, even if unsubstantiated with income tax payments or pay slips. The logic behind this mindset is that if women of the household start working, the expenses of the family will increase, as they will need to employ somebody to fit in the role. An employee costs money and it’s time to view homemakers from a similar viewpoint. At least, the NEW AGE insurers are doing just that
Benefits of Term Insurance (Women)
- Death Benefit: In the unfortunate event of death of life insured during policy term, the nominee shall receive the Total Payout as a Lump sum amount or a combination of Lump sum & Monthly amount.
- Lump sum amount to take care of immediate financial liabilities.
- Tax Benefit: The premiums paid for Term Life Insurance are Tax free under section 80(C) upto an amount of Rs 1,50,000.
- Rider Benefits: Riders are an important addition to the basic plan offering & provide an option to customize the coverage to the life insured.
- Accidental Death Benefit rider offers an additional sum assured over the base plan offering in case death occurs due to an accident.
- Accidental Disability rider offers an immediate lump sum payment on occurrence of any disability due to an accident.
