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5 Things Women Must Remember While Buying Life Insurance

9-July-2021 |

Is life insurance on your mind? That’s great! But you don’t know where to start? Well, we are here to help!

Women have been the epicentre of homes since time immemorial. In the past, women were responsible for managing the home and kids. Today, with the evolution of the social structure and globalisation, women are more independent than ever. Most of them choose to stay single or are separated.

Whether you are an independent single woman, a working married woman, or a stay-at-home-mom, your life matters. As a female, you juggle multiple roles of a daughter, sister, wife, mother, and professional. Irrespective of whether or not you earn, your family depends on you in various ways, which makes it important for you to have life insurance. 

 

Importance of life insurance for women

 

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Life insurance guards your family’s financial future in case of your unfortunate death.

This is especially true if you are the breadwinner of your family. Moreover, if you are single and independent and taking care of your own finances, having insurance for single women in India is imperative to safeguard yourself against unforeseen health crises or to serve you in your older years.

Despite the crucial place that women occupy in society, most of them have never thought of insuring their lives. But, being financially covered has several benefits. An insurance plan for women, like a term plan, for instance, not only gives them peace of mind in terms of finances but also enables them to tackle their individual needs, ensure their family is taken care of, and secure their children’s life.

However, being a woman, there are certain things that you need to bear in mind while investing in a life cover. From your needs to the right kind of cover, here is a list of things you must consider while buying life insurance for women.

  1. Determine Your Unique Requirements


  2. Every individual is different. Likewise, as a woman, you have your unique needs and issues in terms of gender, age, responsibilities, and dreams. Let’s say you are a single mother, and you want to make sure their dreams are taken care of even in your absence. Or, if you are a single woman, you might want to safeguard yourself and your family against any unforeseen health conditions or start your own venture. The same can be true even if you are married. 

    Identify your distinctive needs and goals, depending on your age, lifestyle, marital status, dependents, occupation, income, and other such factors. This will help you select a suitable policy from the several insurance policies for women in India available today. 

  3. Choose a Substantial Life Insurance for Women

  4. Today, there is a range of life insurance policies available to choose from, which can lead to confusion. A term plan is considered the purest form of life cover. Your family gets a sum assured if you happen to die during the tenure of the policy.

    Nowadays, term insurance policies are improvised to cater to varied requirements. Moreover, they are designed in a way to suit the specific needs of a woman. TATA AIA provides term policies that come with features of regular income, top-up option, increasing cover to facilitate important milestones along with a death benefit. In addition to that, it comes with low premium rates for women, making it affordable for you even if you aren’t working.

    The best part is that you can buy a term plan online from the comfort of your home. Provisions like online term insurance calculators make it easier for you to estimate the coverage you need and purchase it.

  5. Cover Your Health Requirements

  6. Biologically and genetically, women are exposed to unique health risks. This includes diseases like breast and cervical cancer, apart from other chronic conditions. Pregnancy comes with its own set of issues before, during, and post-birth. There is gestational diabetes and postpartum depression apart from pregnancy-related complications that might arise.

    Although medicine has technologies and provisions to deal with all these issues, the cost of managing them can put you in a difficult position financially. You need to make sure your insurance plan for women covers you against such problems that have the ability to drain all your savings.

    Tata AIA term plan online carries comprehensive protection and comprehensive health rider# that offers coverage for an array of issues ranging from accidental death, disability to terminal illness and hospitalization.

  7. Provide for a Career Break or Dependents

  8. As mentioned before, your family is dependent on you in different ways. If you are a homemaker, you are providing care for your spouse and children in a myriad of ways. It might not be possible for a man to fulfil those responsibilities. In your absence, they might have to hire help, which will lead to expenses. Now, If you are a working woman, married or single, you might go on a sabbatical or plan to take a break from your career for a few months.

    Adequate life insurance coverage can be beneficial in such times. It helps your family stay protected when you are not around and also provides you with some aid if you have the need to stop working temporarily.

  9. Facilitate Life’s Milestones

You might want to send your child to the best university for higher education, or you might have retirement plans post a certain age. Insurance not only provides financial security but also supports you in achieving your goals.

Whether you wish to start a business, provide for your child’s education or marriage, or travel the world after retirement, certain term insurance plans have the option to enhance your cover to help you accomplish your unique goals. This can be extremely beneficial if you are a single working woman, a single mom, or even a married woman with aspirations.

While you might be taught to be selfless, insuring your life is equally necessary to fulfil your responsibilities to the best of your abilities. Factor in these points to get adequate life insurance for a financially independent life. 

 

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Every individual is different. Likewise, as a woman, you have your unique needs and issues in terms of gender, age, responsibilities, and dreams. Let’s say you are a single mother, and you want to make sure their dreams are taken care of even in your absence. Or, if you are a single woman, you might want to safeguard yourself and your family against any unforeseen health conditions or start your own venture. The same can be true even if you are married.

Identify your distinctive needs and goals, depending on your age, lifestyle, marital status, dependents, occupation, income, and other such factors. This will help you select a suitable policy from the several insurance policies for women in India available today.

Get complete protection at affordable cost & tax benefits

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Tata AIA Life Insurance

A joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA),  Tata AIA Life Insurance  is one of the leading life insurance providers in India. We post everything you need to know about life insurance, tax savings and a variety of lateral topics such as savings and investments in this space. You can access and read a host of different blogs, articles and pages at the Tata AIA Life Insurance Knowledge Center or get in touch with us with any queries or questions!

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