Life Insurance for Women

Financial planning is equally important for working women. Having life insurance can help one secure their family against financial uncertainties. It helps self-empowered women to systematically plan important goals of their lives. With the changing scenario of the financial market, insurance companies have come up with different plans to cater to the needs of every walk of life. The life plans designed for women offer life coverage + saving options for the future. Below are the four middle life insurance policies for women:

Plan Name

Entry Age

Sum Assured

Policy Term

Benefits

Shriram New ShriVivah Plan
  • Minimum: 18 years
  • Maximum: 50 years

Rs. 1lakh

10/15/20
  • In case of sudden demise of the life insured, the nominee will be paid the sum assured as well as the terminal bonus.
  • Upon the maturity, the insured is eligible to get maturity benefit, which is a combination of reversionary bonus and terminal bonus.

Jeevan Bharti-I
  • Minimum: 18 years
  • Maximum: 55 years

Rs. 25 lakh

15-20 years
  • It offers money back facility that can be converted into an annuity
  • Can avail rebate on the high sum assured
  • The insured can pay the premium in advance as well.
  • In case the premium is missed, the policy covers the insured automatically for 3 years.
  • The policy comes with critical illness rider, accidental benefit and congenital disability benefits.

 

PNB Mera Term Plan
  • Minimum: 18 years
  • Maximum: 65 years
  • Maturity age: 99 years for all options
  • 75 years for joint life cover option

Rs. 10 lakh
  • 81 years for all options
  • 10 to 40 years for joint life cover option
  • The death benefit is offered to the nominee in case of the death of the insured.
  • The flexibility of paying the premium. One can pay the premium monthly, half-yearly or annually.
  • Excellent tax benefits are offered on premium paid towards life insurance.
  • There may be options for the return of the entire premium if the policyholder outlives the policy tenure.

 

SBI Life Smart Women Advantage Plan
  • Minimum: 18 years
  • Maximum: 50 (for the base plan) years
  • 35 years (for APC & CA option)
  • Maturity age: 60 years

2 lakh to 10 lakh

10 and 15 years
  • In case of sudden demise of the insured, sum assured of the policy+ Vested Simple Reversionary Bonuses with Terminal bonus will be paid to the beneficiary.
  • The policy will be terminated after the insurer pays the death benefit
  • In case of a major critical illness, the option for inbuilt premium waiver is offered.
  • The plan offers death coverage and critical illness cover.