MWP - Married Women’s Property Act

The Married Women’s Property Act (MWP) gives your wife and children legal ownership of the policy proceeds, protecting them from creditors... Read more  and inheritance disputes. Purchasing a term insurance plan under the MWP Act helps ensure that the sum assured is provided directly to your loved ones, offering them financial security in your absence. This guide explains what is MWP act and how it works. Read less

Financial security is vital for individuals seeking long-term stability. Term insurance ... Read more offers a reliable and affordable solution to safeguard your family’s future, providing reassurance and confidence in the face of life’s uncertainties. In the event of the policyholder’s untimely demise, these benefits ensure that the dependents receive a predetermined sum, helping them maintain financial stability and meet essential expenses and obligations.

Here are the top 10 benefits of Term Plan:

1. Life Cover - Protects your family financially.
2. Regular Investment - Affordable premiums.
3.Financial Protection - Secures your family’s future.
4.Sum Assured - Can choose a sum assured to secure your family
5.Debt Repayment - Covers outstanding loans or debts.
6.Financial Security - Ensures stability for loved ones.
7.Maturity Benefits - Some plans offer a return of premiums.
8.Optional Riders5 - Add extra coverage like critical illness or accident.
9.Tax6 Benefits - Deductions under Section 80C.
10.Online Purchase - Convenient and easy to buy online. Read less

2Individual Death Claim Settlement Ratio. 4T&C apply..

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    Tata AIA Life Insurance Sampoorna Raksha Promise (A Non-Linked Non-Participating, Pure Risk, Individual Life Insurance Plan) • UIN: 110N160V7

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    Vishal-Kapoor

    Written by

    Vishal Kapoor

    Desktop-Vishal
    Insurance Expert

    Vishal Kapoor

    Vishal Kapoor, AVP - Brand & Product Marketing at Tata AIA, has over 17 years of experience in the BFSI sector. He is responsible for driving brand strategy, product & channel marketing campaigns.

    Girish-J-Kalra

    Reviewed by

    Girish J Kalra

    Desktop-Girish
    Chief Marketing Officer

    Girish J Kalra

    Girish J Kalra, Chief Marketing Officer at Tata AIA, leading the organizations marketing & corporate communication initiatives..

    What is the MWP Act?


    The MWP full form is the Married Women’s Property Act. It was introduced in 1874 to protect a married woman’s own property and income. Later, in 1923, a key amendment extended this protection to life insurance. When a life insurance policy is purchased under this Act, the policy becomes a legally protected asset. The benefits can only be claimed by the wife and/or children listed as beneficiaries.

    This means that the payout from the policy cannot be given to creditors, relatives, or even the husband’s estate. It ensures complete financial independence for the wife and children. It also protects them from liabilities such as unpaid debts or disputes within a joint family or a Hindu Undivided Family (HUF).

    Additionally, the MWP Act in insurance applies to any man who is or was married, including widowers and divorcees, not just currently married men.

    Popular Tata AIA Term plans

    How does the MWP Act protect my family?

    The following point helps you understand how the MWP Act protects your family.

    • Ensures only beneficiaries get the payout

      :
       Policies purchased under the MWP Act legally bind insurers to pay benefits only to the wife and/or children listed. No third party, including relatives or creditors, can claim the proceeds.
    • Avoids repayment of personal debts

      : If the policyholder had unpaid loans, creditors cannot seize the insurance amount. The entire payout goes directly to the nominated family members.
    • Prevents family disputes

      : In joint families or Hindu Undivided Families (HUF), disputes may arise over property and funds. Policies under this Act are treated as the exclusive property of the listed nominees and benefit only them.
    • Offers divorce-proof protection

      : A policy under the MWP Act provides divorce-proof financial security, meaning only the wife and/or children can be the sole beneficiaries. Even in the event of a divorce, the policy proceeds cannot be claimed by anyone else.
    • Non-alteration of nominees

      : Nominees added under the Act cannot be changed. This helps ensure that the financial security of the wife and children remains fully protected.

    Benefits of buying insurance with the MWP Act

    Buying insurance with the MWP Act offers many benefits, some of which are as follows:

    • Financial protection for family

      Life insurance under the MWP Act safeguards the wife and children from financial challenges due to the policyholder’s debts or liabilities

    • Safe from claims and disputes

      The MWP Act protects the policy payout from external claims and prevents misunderstandings by clearly securing it for the wife and/or children only.

    • Empowers women financially

      In case of death or divorce, the wife receives full control over the insurance benefit, strengthening her financial independence.

    • Eliminates need for additional legal setup

      A separate trust isn’t required; insurance acts as a built-in trust, securing payouts directly for the nominees.

     

    Who should opt for the MWP Act?

    The MWP Act may be suitable for any man who is or was married. This act helps ensure that the policyholder's wife and children receive life insurance benefits. This includes individuals with financial liabilities, unstable income, or those part of a joint family structure. By opting for this Act, the policyholder can protect his family from potential legal or financial disputes.

    If a women purchases a Term plan under the MWPA Act, she can choose to keep her children the beneficiaries.

    Suitable for:
    • Salaried individuals with existing loans
    • Business owners with outstanding debts
    • Members of joint families
    • Members of Hindu Undivided Families (HUF)
    • Individuals with unstable income sources

    Who can you name as beneficiaries in insurance under the MWP Act, 1874?

    The Married Women’s Property Act, 1874, was introduced to safeguard the property rights and financial rights of married women. Even life insurance policies are considered to be assets under this Act. So, it is possible to protect your wife and your children with the help of an insurance plan covered by the Act. Here is how you can nominate your spouse and your children:

    • Security for your child/children only
    • Security for your wife and kids
    • Security for your wife only

    How do you buy Term Insurance under the MWP Act of 1874?

    Here is how you can buy a term insurance under the MWP Act of 1874:

    • Choose a suitable policy :

      Select a term insurance or savings/endowment plan that allows MWP endorsement. 
    • Fill MWP addendum during purchase :

      At the proposal stage, sign the MWP addendum form declaring your wife/children as irrevocable beneficiaries.
    • Nominate beneficiaries :

      Decide who will receive the insurance benefits: wife, child/children, or both. You can allocate in equal or defined proportions.
    • Appoint a trustee (Optional) :

      You can assign a trustee (must be 18+ and give consent in writing) to manage the policy on behalf of the beneficiaries. The wife can also be named a trustee.
    • Finalize the policy :

      Once the MWP clause is added and the policy is issued, beneficiaries cannot be changed. This ensures financial stability and protection..

    What other laws did the MWP Act enact?

    These are some of the other laws enacted by the MWP Act:

    Right to Opt for Insurance

    The MWP Act also enables married women to purchase and own an independent life insurance plan. After marriage, a woman need not have to depend on her husband to buy an insurance policy. The benefits of the policy purchased by the woman can only be claimed by her. This is much the same as an unmarried woman owning a life insurance policy since, before the Act, married women could not hold independent contracts.

    Ownership over Earnings

    As per the Married Women’s Property laws, a married woman’s earnings are her own property. If her earnings are independent of her husband’s earnings, she can pursue any trade or occupation, and the earnings will be her sole property. Hence, her husband or any other entity may not make any claims on her property or earnings, which also includes her savings or investments made in various avenues. These are all her legally protected property under the Act.

    Initiate Legal Proceedings

    The MWP Act empowers and enables a woman to initiate legal proceedings if she wants. This provision was created to help women seek legal help independently to recover their separate property, whether acquired under the Indian Succession Act or the Married Women’s Property Act. The law allows the woman to initiate civil or criminal proceedings to regain her ownership.

    Insurance for Married Women

    Earlier, before the introduction of the Act, if a married man passed away without clearing his debts, his creditors would claim his assets and property, which also included life insurance policy benefits. However, through Section 6 of the Act, the proceeds from the life insurance policy taken by the man under this Act can only go to his wife and/or children and may not be claimed by his creditors.

    Husband’s Liability for Breach of Trust

    The MWPA also explains the liability of the husband when his wife is nominated as the beneficiary and trustee of the life insurance policy. As per the provision, since the husband does not have any claim over the benefits or is not involved in the management of the life insurance policy, he cannot be liable in case of a breach of trust by his wife or if the proceeds are misused by her.

    Husband’s Liability for Ante-Nuptial Debts

    The Act also discusses how the husband cannot be held liable for unpaid debts incurred by his wife before marriage. If an unmarried woman takes credit or a loan, her liability to be sued for the non-payment of the debts even after marriage will remain the same as an unmarried woman. Hence, the husband is not liable to repay debts after marriage.

    Liability for Post-Nuptial Debts

    The MWP Act 1874 also lists out all the liabilities of a married woman, along with listing out her rights. If a married woman chooses to enter a contract or an agreement regarding her property and does not uphold her repayments, the other person involved in the agreement can sue her for the losses, like suing an unmarried woman for the losses.

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    FAQs about MWP Act

    If a life insurance plan is taken under the MWP Act, can I get a loan on the policy?

    While a regular life insurance policy may allow you to avail of a loan against the policy, you will not be able to take a loan against your life insurance policy under the MWP Act. Your untimely demise with pending debts can risk the protection the life insurance policy provides your wife and children.

    Is it possible to buy more than one life insurance plan under the MWP Act?

    Yes, you can have more than one life insurance plan under the Married Women’s Property Laws. However, ensure you pay their premiums so that the policies are in effect, and your wife and children can receive the benefits when needed.

    Can I assign an existing life insurance policy under the MWP Act?

    No, the MWP Act clause must be added at the time of purchasing the policy. It cannot be added or assigned to an existing policy later.

    What will happen to the life insurance policy if my wife passes away before me?

    If your wife is the beneficiary of the life insurance policy, but passes away before you, the benefits of the policy will go to your legal heir. It is this person who can receive the policy benefits in case your wife does not.

    Can one surrender a policy that has been taken under the MWP Act?

    Yes, you can surrender your life insurance policy covered under the Married Women’s Property Laws. However, the beneficiaries should be informed of the process, and they must sign the policy. After surrendering the policy, the appointed beneficiaries receive the benefits.

    Can the beneficiary of the policy be changed under the Act in case of a divorce?

    No, the beneficiary you have chosen while purchasing the policy cannot be changed. If the nominee is your wife, she will receive the policy benefits when the situation arises.

    Can I add my parents as nominees under the policy taken under the MWP Act?

    No, the MWP Act is a provision solely for your wife and children. You cannot cover your parents, relatives, or any other family members under a life insurance plan taken under this Act.

    If my wife has unpaid debts from before our marriage, do I have to repay them?

    No, under the MWPA provision, the husband is not liable to repay the wife’s unpaid debts from before the marriage unless he chooses to. Hence, you will not be liable in case your wife is sued for the non-payment of credit or loans taken by her.

    Is it possible to add my wife as the trustee and beneficiary?

    Yes, you can add your wife as the trusteed and beneficiary to the insurance policy under the MWP Act to manage the policy on your behalf in your absence.

    Can my wife purchase her own life insurance and make the benefits her own property?

    Yes, your wife can independently purchase a life insurance policy after marriage under the MWPA. The proceeds and benefits will be claimed only by her as her sole property. In case of her death, she can choose a nominee.

    If my insurance policy offers survival benefits, who will be eligible for the maturity proceeds?

    Your nominee will receive the maturity proceeds if you have purchased a savings plan or an endowment plan under the MWP Act.

    Disclaimers

    • Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V07)
    • Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V11)
    • 1Illustrated premium of ₹501 is the monthly premium excluding taxes for a 20 yr. old female, Standard Life, Non-Smoker for ₹1 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Promise Option of Tata AIA Sampoorna Raksha Promise with first year premium discount of 10% for digital purchase and 8.5% for salaried person. Please refer Benefit Illustration for more details.
    • 2Individual Death Claim Settlement Ratio is 99.41% for FY 2024-25
    • 3Under Life Promise Plus Option, an amount equal to the 100% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
    • 4Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of ₹50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
    • 5This includes first year digital discount of 10% for Limited Pay/Regular Pay and 8.5% salaried discount. For Single Pay, 1% discount will be available for online purchase and salaried discount each.
    • 6Illustrated Premium of ₹679 is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for 2 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) with Life Secure plan option of Tata AIA Maha Raksha Supreme Select with first year premium discount for digital purchase and salaried person.
    • Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
    • Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
    • This product is underwritten by Tata AIA Life Insurance Company Ltd.
    • The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance.
    • Insurance cover is available under this product.
    • For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
    • Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
    • In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
    • L&C/Advt/2025/Jul/2766