Best Life Insurance Plans for Women In India
Updated On Jun 14, 2021
Table of Contents
It is very clear that life insurance can be beneficial for anybody and everybody. Women are always known to be the person who manages the money flow at home. Very few women purchase life insurance policies to secure themselves or their family even though everybody can purchase life insurance. As more women have started working it is very important for them to protect their income. Changing trends have led women to opt for insurance and other investment tools to ensure that they are financially independent at every stage of their lives.
Life Insurance Plans for Women
For women it can be tricky to choose the life insurance plan that will provide security to them and their loved ones in desperate times. Here mentioned are some of the life insurance plans designed specially for women in India.
1. HDFC Life Smart Woman Plan
HDFC Life Smart Woman plan is a unit-linked plan specially curated for women to satisfy their needs. HDFC Life Smart Woman plan provides comprehensive coverage. This insurance plan has three plan options that the potential buyer can choose according to their requirements. This plan offers 4 funds options to choose from that are Income Fund, Balanced Fund, Blue Chip Fund and Opportunities Fund.
Features and Benefits
- Availability of Annual Premium Payment Option
- Availability of 4 Funds Options
- Availability of 3 Plan Options
- Flexibility to make Partial Withdrawals
- Availability of Waiver of Premium option in case of pregnancy complications, demise of spouse(available in Elite plan option) or diagnosis of any terminal illness.
2. SBI Life Smart Women Advantage Plan
SBI Life Smart Women Advantage plan is an insurance plan specially designed for women and this plan provides Life Cover, Option for Savings and Critical Illness Benefit all under one life insurance plan. This insurance plan has two plan options that are Gold Plan and Platinum Plan. SBI Life Smart Women Advantage plan has Waiver of Premium in-built in the plan. If the policyholder/insured survives the policy tenure he/she will be provided with Maturity Benefit under this plan.
Features and Benefits
- Availability of Critical Illness Benefit
- Availability of 2 Plan Options
- Availability of Waiver of Premium Option
- Availability of Loan against the life insurance policy
3. LIC Jeevan Bharti I Plan
LIC Jeevan Bharti I plan is a specially designed insurance plan for women in India. This plan is a profit plan that provides special features keeping the needs of a woman in mind. This plan offers three optional additional riders that are Critical Illness Benefit Rider, Accident Benefit Rider and Congenital Disability Rider.
Features and Benefits
- Availability of Premium Payment in Advance
- Availability of Critical Illness Benefit
- Availability of Loan against the life insurance policy
Endnotes
Women are now reaching heights one can only imagine and it is safe to say that the need to protect their income and secure their future along with their loved ones to maintain a financially independent life. Above mentioned insurance plans can be considered by women who are working, homemakers, business orientated or are single parents.Financial planning is an important aspect for men as well as women. Women need to realise that financial planning is very important for a stress free life.
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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
