Women run as a natural pillar in the family, taking up multiple roles of a mother, a daughter, or a wife. As a woman running a successful business or as a stay-at-home mom, it is extremely important for all women to be insured. Life Insurance plans can be tailored to suit women and their requirements for the different stages of their life; such as their health, protection, women-specific health risks, child’s education, long term savings, investments and financial security in retirement.
Let’s look at how as a woman, you can tailor your needs with your Life Insurance plan:
As a single woman
More often than not, you might think that it is not required for you to have Life Insurance as you have no dependents. What you need to remember is that getting Life Insurance can help support you with the required funds for your short and long term goals such as a marriage and a house, as well as pay off heavy expenses such as education loans, car loans, taxes and other expenses; thus shielding your family from a financial burden in your absence.
For stay-at-home mothers
Managing a home is a full-time work position with countless roles and duties. The value of your duties as a stay-at-home mother is much higher than someone who could be hired to do them. In your absence, your spouse would have to take over those additional responsibilities, which would need financial support. Keeping you insured would help your spouse pay for assistance in your absence, keep the household running and save his work hours.
For working mothers
As a working mother, your family relies on your income as much as your husband’s. Your income is a considerable influence on the quality of your family's lifestyle – be it taking care of the cost of everyday living expenses such as clothing, food and utilities, to providing for your children's education as well as your retirement. In the unfortunate event in which your family has to be without this source of income, keeping you insured will help safeguard their lifestyle as well as their future.
For single moms
As a financially independent mother managing professional work and a household, you hold primary responsibility in all aspects towards your child, your in-laws and your own family. A Life Insurance policy is very important for you to receive ongoing returns to cover for child-care expenses, future college expenditure, medical payments, family goals and debts.
For a family caregiver
No one can provide care to both children as well as elderly members of the family as a strong woman can. Personally attending to aging parents or family members can involve meeting expenses of adult daycare, uninsured medical payments, managing critical care and more. Adding these expenses to the costs of running a house, childcare, school and college education - the resulting amount can be very high. Your Life Insurance policy helps provide an income that can be used towards paying for these expenses.
Invest in a Life Insurance policy today to ensure you and your family have the income to sustain even if something happens to you. Based on your specific needs, you can always choose a Life Insurance policy that suits you best.
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Tax benefits are as per applicable laws which are subject to change. Policyholders are advised to consult tax expert for better clarification /interpretation.
In Linked Insurance Products, the Investment Risk in Investment Portfolio Is Borne by The Policyholder. The linked insurance products do not offer any liquidity during the first five years of the contract. the policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of fifth year. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document issued by the insurance company.