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5 Reasons Why Women Should Go for a Term Insurance Plan

If you, as a woman or for a woman in your family, haven’t bought insurance, you are making a big mistake. These term insurance plans are very beneficial, especially when the policyholder is a woman. Such women’s term insurance plans have several extra returns and benefits.

These benefits are available to the policy-holding woman and their nominee as well. To understand the benefits of buying such a women-oriented plan, you will require the help of the below-given five points. Read on to know the five reasons why women should go for term insurance rather than any other insurance.

Assured Returns to Family and Dependents

Since the beginning of time, women have played an important role in a family. And with the passage of time, through many obstacles, they now helm several successful businesses. Several working women are also the only source of income for their families. It means women also worry a lot about what would happen to the family in their absence because they are responsible for taking care of them.

Term insurance for women allows women to remain tension free from the constant worrying about the family’s well-being. Through it, they can provide assured returns to the family. The funds can then be helpful for the children, unemployed husband, parents, and other dependents.

Cheap Premium Being a Term Insurance Plans

Another reason why women should have term insurance is that term insurance plans have the cheapest premium. It is generally seen that women have several society-imposed obligations such as jewellery, own house instead of a rented one, a huge savings fund, and much more. They might also require large savings for future endeavours or family requirements.

So, when they have so many monetary commitments, setting aside money for life insurance plan will be tough. But term insurance doesn’t have a return of premium, so their premium rates are also very cheap and affordable. Women can use such plans to get life cover while having enough funds to set aside for other requirements.

Lower Premium Rate Due to Higher Life Expectancy

Women have a higher life expectancy than men, so the premium of term insurance plans for women becomes lower. It helps them further decrease the expenses incurred due to term insurance.

To Get the Maximum Tax Savings

Women already have higher income tax slabs than men and a higher savings potential through it. But with the help of investment in term insurance, they can claim further relaxations. Thus, making their expenses towards women’s term insurance plans almost negligible.

Nowadays, several term insurances provide 1 or 2 crore coverage for premiums as cheap as INR 15,000 – 25,000. But when these plans are for women, they can decrease the final premium amount with the plenty of relaxations allowing them higher coverage at cheap rates.


To Get Critical Illness, Accident, And Permanent Disability Cover Through Term

Women can also take benefits from different covers that come along with a term insurance plan. These include critical illness cover, which is very useful in treating women-specific diseases. Thus, providing them the benefit of health insurance through term insurance. The other covers also assist women during other challenging times in life.


Now that you know the top five reasons why women should have a term insurance plan don’t stop until you buy one. Term insurance can secure the family’s and dependents’ lives in this age where several women are the family’s sole breadwinners.

When the matter is so critical, you must never compromise on the reliability of the term insurance plan. And not even the slightest doubt should be there about the insurer’s reliability which provides that plan. 

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