Why Term Insurance for Women is Important?

Buy a life insurance plan in a few clicks

Now you can buy life insurance plans completely online right here.

  • Icon for Kotak Preferred e-Term Plan

    Kotak e-Term Plan

    Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.

  • Kotak E-Invest Plan

    Kotak e-Invest is a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and needs - be it protection; investment; financial security for child or retirement planning.

  • Icon for Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and insurance cover against any eventuality.

  • Icon for Kotak Preferred e-Term Plan

    Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!

  • Icon for Kotak Preferred e-Term Plan

    Kotak Health Shield

    The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.


Why Term Insurance for Women is Important?

Buy Life Insurance Now
  • 8th Jul 2019
  • 2,273

Why Term Insurance for Women is Important?

With changing times, the role of women across the globe has changed. Women no longer play a strong role only in the household. Today, they also have an important part to play in towards the financial contribution of their family. Just like men, women participate equally in the financial growth of the family. Women are equally important when making domestic, as well as, financial decisions, and it is time that we acknowledge the same. In order to ensure the financial safety of all the family members, it is advisable to purchase a term plan for women. Such an insurance plan will help the family to meet specific financial obligations if the ‘woman of the house’ passes away untimely.

What is a term plan?

A term plan is an insurance plan, which gives the benefit of growing the corpus for a specific duration. In case of death of the policyholder, the sum assured will be paid by an insurer to his nominees. The policyholder needs to pay a fixed amount of premium for a specific period. If the policyholder survives the term plan, he does not receive any maturity benefits. A term plan is highly affordable and cost-effective. Term insurance for women should be seen as financial protection for the uncertainty in life. The term plan for women is no different from a regular term plan. However, this plan aims to provide for the financial security of the family members if the woman was a key earning family member.

What are the Benefits of buying term insurance for women?

As a responsible woman, you need to understand the benefits of term insurance. The loss of a loved one is irreplaceable and whether you are a homemaker or a working woman, nothing will fill the void in your life. However, all the responsibilities will come on your spouse and his life will be burdened with additional financial responsibilities. Moreover, he will have to take up extra personal responsibilities such as single-handedly taking care of parents or children. This will also have an impact on his working life. With the help of a term plan for women, he can take care of financial obligations like long-term education expenses or loans. This plan will ensure that there is no requirement to borrow funds to meet monthly expenses. It will also help cut down on your husband’s working hours and thereby give a safety cushion to your family when you are not around.

What are the Benefits for women in a term plan?

Listed below are some important benefits offered to you in a term plan for women.

  • You get special premium rates from insurance companies;
  • You can avail of an attractive non-smoker premium benefit for maintaining a healthy lifestyle
  • You will be able to get comprehensive protection with an option to add critical illness riders to your plan, which can make a huge difference to your term plan

It is advisable to compare all the available options before you choose a term plan online. Simply visit the website of various insurance companies and check the features offered by them. Do a thorough comparison among insurance providers before making a decision. It is important to consider your goals when buying a term plan. Doing this will help you to select a plan that perfectly fits your needs.

- A Consumer Education Initiative series by Kotak Life

Also read

  • NRI Premium Payment Options

    NRIs have various premium payment options: Insurance premium payment online, credit card, debit card. Click here to know how to pay premium online and...

    Read more
  • Why One Must Buy Term Insurance before 25 Years

    Term insurance plan is one of the policies that you need right away. It is a great investment to help you cope with the uncertainties of life. Click h...

    Read more
  • Is Life Insurance For Millennials Really Needed?

    Life insurance for Millennials is necessary since it secures their dependents future. Read here to know why life insurance for millennials is importan...

    Read more

Related Plans

  • Kotak Term Plan

    Kotak Term Plan

    The Kotak Term Plan is a pure risk cover plan and an economical way of providing an adequate level of financial protection.

    Know more
  • Kotak Assured Savings Plan

    Kotak Assured Savings Plan

    Kotak Assured Savings Plan is an affordable protection plan that enables you to accumulate wealth and strengthens your finances for the future.

    Know more
  • Kotak e-Term Plan

    Kotak e-Term Plan

    Get protected at less than Rs.19/day with Kotak e-Term Plan. Our term insurance plan combines best-in-class features & comprehensive coverage with...

    Know more
  • Kotak e-Term Plan

    Kotak e-Term Plan

    Kotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...

    Know more