With equal rights comes equal responsibilities. Women are no longer restrained to household matters and are playing an equally significant role as bread earners. This means that their wellbeing affects the family financially, as much as it does otherwise. This demands that you give your woman her equal right in life insurance too.
Why do women need a life insurance?
Life insurance for women is significant not just because it fills in for the immediate financial need, if any unfortunate incident were to happen to them, it is also an expression of appreciation. A way to show that their effort and hard work is being recognised, a proof that their existence makes life easier and hence needs a protection cover, a plan that says — let’s do this together, like everything else.
What are the things one should consider while seeking insurance plans for women?
Like any other insurance policy, insurance plans for women should be selected according to their needs. While a term insurance serves as the basic cover, a child insurance plan would be better for a woman who has kids. Besides, a retirement plan helps one accumulate wealth over the time to fund life after retirement.
What’s more is the women care rider. Insurance companies provide an additional plan that covers women specific conditions like malignant cancer of the female organs, pregnancy complications, etc. This is an ideal way to boost your wife’s base policy.
What is a joint life insurance plan?
Another great way to shield your wife under a life insurance is to invest in a spouse plan, which covers you and your wife both in a single policy. Mostly companies make it available only to working married couples. It works like a regular policy that provides an immediate lump sum amount followed by regular pay-outs, in case of the sudden demise of any or both the partners.
A joint life cover is a smart choice as it comes with a host of benefits. This one-life-cover-for-two gives more than two times of the sum assured, which goes to the surviving partner after the death of another. In a scenario where both the partners die together, the benefits are paid to the legal heirs. A strong financial security for your dependents and/or funds to meet any of your financial liabilities makes it a suitable resource. Well, that’s not it! This plan usually comes with inbuilt accidental benefit and a critical illness cover.
Add one more vow to your marriage and invest in a joint life insurance, today.