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Why Women Should Get Life Insurance?

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Protection against risks in life is the essence of life insurance. Getting Insured for life is important for men, so is for women. Gone are the days when men were the sole breadwinners; women’s contribution to a family’s overall finances cannot be overlooked today. Surprisingly, in India, only around 14 percent women have life insurance cover. Irrespective of whether women contribute or not to the family income, they should get life insurance. Awareness about the benefits of life insurance for women should be spread on a large scale. Meeting emergencies and giving shape to life’s goals stage wise is the ultimate objective besides getting insured.

Life Insurance for Stay-At-Home Moms

The daily chores that stay-at-home moms do are praiseworthy – cooking, cleaning, washing, arranging things, managing kids including their routine activities plus homework/school projects, and related paraphernalia. The importance of home tasks cannot be under estimated. Stay-at-home moms either depend upon their husbands’ life insurance cover or get a Policy through their husbands’ income. Unfortunate incidents can happen anytime anywhere. If something untoward happens, household chores can be managed and children can still enjoy a financially secured life though emotional loss cannot be balanced.

Life Insurance for All Categories of Women

Women do lead the household as they happen to be better planners. If you are a working woman, get life insurance cover so that you live confidently every moment of your life without financial worries. If you are a single woman having dependent children or other family members, you can look forward towards living the same lifestyle in the future or let your family live worry free even in your absence.

Life Insurance Riders

When you buy a policy, consider the amount of Coverage that would be adequate for you. Know about the policy well before you take a buying decision. Consider adding Riders to your chosen policy so that you enjoy add-on benefits. This is because your chosen policy may not include the benefits you prefer. You can add, mix, match, and remove riders to your existing plan. Few riders worth mentioning here are Waiver on disability or sickness, double sum insured in case of death by accident, waiver of future premiums, and more.

Life Insurance Premium

Life insurance premium for women are less compared to men for the same policy and benefits entitled to. There are more factors that determine the life insurance premium:

  • Your age; higher the age more is the premium.
  • If you are a smoker, you will need to pay more Premium compared to a non smoker.
  • Undergo medical check up if you opt for Term life insurance cover.
  • You may not be eligible for any policy if you nurture dangerous hobbies or you may be charged with a very high life insurance premium.

Benefits of Life Insurance for Women

  • Meeting of different liabilities at different stages of life.
  • Without affecting benefits, you can get loans against premium paid.
  • In your absence your dependent family members continue to enjoy the same standard of living.
  • In your absence, mortgages and loans are cleared by the insurer.
  • Protection against critical illnesses through riders.

To buy the best life insurance cover, visit a reliable insurance aggregator and facilitator’s website. Get quotes, compare policies, and buy your chosen policy right away.