5 Term Insurance Benefits For Single Women
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Health Shield

Insurance against medical expenses related to heart, brain, liver and Cancer. Know more

5 Term Insurance Benefits for Single Women

5 Term Insurance Benefits for Single Women
  • 11th Mar 2021 |
  • 1,036

Term insurance is often associated with the chief earning member of the family. In the unfortunate event of their demise, a term insurance plan can help their family cope with the loss and at the same time cater to their future financial needs. Given the fact that more and more women are working and supporting themselves financially in today’s times, a term insurance plan is essential for all single women.

Benefits of term insurance for single women

1. It offers low premiums if bought early: Buying a term plan at an early age can come with low premiums. This can considerably reduce the costs of term insurance. Young single women can greatly benefit from lower premiums and buy a plan with a high sum assured without putting a dent in their budget.

2. It helps their family pay off debts: Loans are a common way to fulfil goals these days. Home loans, car loans, student loans, and even personal loans can help individuals lead comfortable lives. However, the interest rates can be a burden. In the case of an untimely demise, the onus of paying back the loan can fall on the family. The payouts from a term plan can help a grieving family settle these loans and carry on with their lives with dignity.

3. It offers tax benefits: A term plan has many tax benefits that can contribute to overall savings. Policy owners can claim a tax deduction of up to ₹1.5 lakhs on the premiums paid towards a term plan under Section 80C of the Income Tax Act of 1961 Tax Act of 1961. Not only does this secure the future of the nominee but also provides the policy owner with short term savings.

4. It can help the future family and children:A term insurance policy can secure future generations too. When a woman gets married and has children, the term insurance plan can be used as a financial cushion for her loved ones. The sum assured can cover her children’s higher education expenses, wedding costs, loan repayments, and a lot more.

5. It offers medical benefits: There has been an alarming increase in illnesses. A static lifestyle followed by high-stress levels and poor eating choices has led to several medical issues in people of all age groups. Women, in particular, are prone to breast cancer, ovarian cancer, Polycystic Ovarian Disease (PCOD), etc. A term insurance plan with a critical illness cover can be used to accommodate medical expenses.

Term insurance plans for single women by Kotak Life

Here are some benefits by Kotak Life term insurance plans and their features for single women:

1.Kotak e-Term Plan

- High protection, starting at only ₹23 per day.

- Multiple payout options, such as Life Option, Life Secure Option, and Life Plus option.

- Flexible payouts, such as Immediate, Level Recurring, and Increasing Recurring payout options.

- Minimum sum assured starting from ₹25,00,000 (the higher limit depends on the plan).

To sum it up

Term insurance is an essential part of every woman’s financial plan. Hence, it is critical to buy a wholesome term insurance plan as soon as possible. Moreover, keep in mind to pick an adequate sum assured with suitable riders to enhance the cover and receive optimal benefits.

Kotak e-Term Plan

Download Brochure

Features

  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492

T&C

Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Reasons You Need Term Insurance Plan as a Self-Employed Person

How To Choose the Right Sum Assured Under a Term Plan?

Protection for your family

Term Insurance With Riders In India

Do Beneficiaries Pay Taxes on Term Insurance?

Does Your Term Insurance Plan Cover Death Due to COVID-19?

Term Insurance: Smokers vs Non-Smokers

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

8 Factors to consider before choosing a Critical Illness Insurance

Ensure Protection Against Death, Disease & Disability With Life Insurance

Should you buy a Renewable Term Life Policy?

Advantages of Buying Term Insurance in Your 50s

Cost of Term Insurance Likely to Increase Soon

4 Reasons Why You Need Critical Illness Cover

Why Should You Not Take A Term Plan Without Medical Test in India?

How To Calculate The Amount Of Term Life Insurance You Need?

Term Plans are Definitely Cheaper than You Think!

Term Plan with Spouse Cover

Top 3 Reasons Why You Should Buy A Term Plan Now

6 Reasons That Make Term Insurance a Must Buy

8 Benefits of Term Insurance You Should Know

Tips to Choose the Right Term Period for Term Insurance Plan

While Buying Term Insurance Compare Features, Not Just Premiums

Different Types of Premiums in Term Insurance?

Why is it important to buy term insurance plan?

Why Premium Amount for Term Insurance is So Low?

भारत में गृहणियों के लिए टर्म इंश्योरेंस

Why Term Insurance Is Better Than ULIP?

Is Term Life Insurance Plan an Investment or Expense?

Advantages & Disadvantages of Term Insurance in India

How To Change The Nominee in Term Insurance?

Difference Between Term Insurance and Endowment Plan

Importance of Term Insurance at Every Stage of Your Life

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

Is Life Insurance Investment Worthy Enough

Why You Must Include In Your Financial Planning?

Steps on How to Buy Term Insurance Online

Planning For Son or Daughter's Wedding

Is a Term Insurance Policy Portable?

Endowment Plans vs Term Plans: Understanding the difference

What Happens if you Hide Facts in your Term Insurance?

9 Point Guide on how to File Income Tax Return Online

All you need to Know about Term Insurance Plans for housewives

What Should You opt for - Limited or Premium Pay?

Do You Need Term Insurance Cover After Retirement?

Can A Housewife Buy a Term Insurance Plan - All You Need to Know

Comparing Term Plans – What Should You Look Out For

Busting Myths and Facts About Term Insurance Policies

How to Compare Term Insurance Online

Can I Get Term Insurance on Behalf of My Spouse?

Can Term Insurance Plans Be Purchased As A Gift?

Calculating Term Insurance Premium

How Does A Term Life Insurance Work in India?

9 Ways to Help Family Members in Financial Trouble

Why 1 Cr Term Plan Is Necessary For Family?

What All Documents Required For Term Insurance In India?

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

Is There Any Tax Benefit on Term Insurance?

Zero Cost Term Insurance Plan: What is & Should you buy it?

6 Types of Death not covered in Term Insurance Plan

Individual Life Insurance vs. Group Term Life Insurance

Increasing Term Insurance and Riders

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Form 16, Form 16A, and Form 16B?

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

What Are the Best Term Insurance Plans for Planning Retirement?

Difference between Section 80C and 80CCC of the Income Tax Act, 1961

Why Term Insurance Is Important in times of COVID-19?

How to Identify Term Insurance According to Your Needs?

Can I Buy Term Insurance for a COVID-19 Patient?

Insuring yourself against Ill Health with a Critical Illness Rider

What are incremental term insurance plans?

Can I Make Changes to My Term Insurance Policy Post Purchase?

9 Tax Changes in Budget 2019 that may Impact Your Personal Financial Planning

8 Types of Death not covered in Term Insurance Plan

Should you have more than one nominee in your term insurance?

Can Senior Citizens Avail Term Insurance?

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

Can I Extend the Tenure of My Term Insurance Plan?

Does Term Insurance Cover Accidental Death?

Should You Have Multiple Term Life Insurance Policies?

Best Investment Plans for Children - Secure Your Child's Future

How to Buy 1 Crore Life Insurance Policy Without Medical Test

What is a short term insurance policy?

Eligibility Criteria for Buying Term Insurance in India

Understanding Term Insurance Riders

जीवन बीमा पॉलिसी लेने की प्रक्रिया क्या है?

What Are Insurance Riders and How to Choose Them in a Term Plan?

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

How To Choose the Right Term Insurance Plan?

Can You Increase Your Term Insurance Cover?

Planning For Children's Future

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

कोविड -19 बूस्टर खुराक के दुष्प्रभाव

Make Your Online Term Plan Your Family's Monthly Pay Cheque

What is Critical Illness Policy?

Why Married People Should Buy Term Insurance Under MWP Act?

What are the Documents Required for Term Insurance Plan?

Why Spending Time with Friends is Essential for Your Mental Health?

Term Insurance Basics You Should Know

9 Most Frequently Asked Questions on Term Insurance

How Much Term Insurance Do I Need

Choosing Riders for Insurance Plans

4 Methods to Calculate How Much Term Insurance You Need

3 Things to Consider When Buying Term Insurance, If You are Single

Is ₹1 Crore Term Insurance Good Enough Cover?

How do I Calculate My Term Insurance Premium

Which Death Type Does Your Term Plan Not Cover?

Why Should You Add a Rider to a Term Insurance Plan?

What are the Tax Benefits of Sukanya Samriddhi Yojana (SSY)?

Term Insurance with Critical Illness

What Is the Correct Age to Buy Term Insurance?

What Is a Renewable Term Insurance Policy?

How Not To Get Your Term Insurance Claim Rejected

Why does every working women need life insurance?

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

Know How to Invest at Every Age for Larger Returns

Term Insurance vs Life Insurance: Understand the Difference and Benefits

Why should single women purchase term life insurance?

8 Things To Do After Buying Term Insurance

10 Ways to Mentally Refresh After a Stressful Day

What is Insurance Premium - A Detailed Guide

Should You Buy a Term Plan After 40?

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

Is It Good To Buy A Term Insurance Plan In 2022?

Should Youngsters, Working Couples Buy Term Insurance Plans?

10-Year Term Life Insurance Policy - Explained in Detail

What is Term Insurance? Term Plan Meaning and Definition

How Much Cover Should I Take In A Term Plan?

5 Reasons to Buy Term Insurance When You are in Your 30s

5 Things To Consider While Buying Term Insurance Plan

Is Group Term Life Insurance Provided By Employer Sufficient?

Insuring Against Accidents with an Accidental Death Insurance Rider

Key Differences Between Term Insurance, ULIPs, And Health Insurance

Insuring Against Disability With Disability Insurance Rider

Why Term Plan Should Be The First Step To Securing Your Future?

Tax Benefits of Term Insurance in India

What is a term insurance plan with a return of premium, and how does it work?

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

Everything About Claim Settlement Ratio for Term Insurance

Term Insurance Plans and Policies for Smokers

Why Buy Term Insurance Plan With a High Cover?

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

10 Ways to Get Your Kids Involved in Your Healthy Lifestyle

How Much Term Life Insurance Cover Do I Need?

Why Buy Term Insurance Even at Rising Rates?

भारत में जीवन बीमा कितने प्रकार के होते हैं?

Why Should You Buy Term Insurance in 2022?

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Different Types of Protection Plans

What Should Be The Duration Of Your Term Plan in India?

Term Insurance Age Limit – Term Plan for All Age Groups

What Types of Deaths Are Covered in a Term Insurance Plan?

Gift Your Father A Term Insurance Plan This Father's Day

Make Your Online Term Plan Your Familys Monthly Payout

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

All About Term Insurance Inbuilt Coverage

Insuring Protection Against Death With Death Insurance Rider

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

Insurance Policy for Housewife In India

Term Insurance Calculator - Everythng You Need To Know

Buying A Term Insurance Plan? Take These Factors into Account

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

Do I Need to Give a Medical Test for Term Insurance in India?

How Does Term Life Insurance Work? Learn the Benefits

Online vs Offline Term Insurance: Which Is The Better Option To Buy

How to Ensure That Your Term Insurance Claims Are Never Rejected?

Why Should New Parents Buy Term Life Insurance?

Is term Insurance Needed for People With No Dependents?

Term Life Insurance Plan for Smokers vs Non-Smokers

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

4 Things To Expect From Your Term Insurance Plan in India

5 Benefits of Early Retirement Planning

How to Surrender Term Life Insurance When You Have No Liabilities?

Side Effects of Covid-19 Booster Doses

All about Online Income Tax Calculator