Why Women Need Life Insurance?

In today's society, women are engaging and cooperating with their male counterparts competitively at both the professional and domestic front. Women today, have challenged the patriarchal myth that only men could provide financial security to their families and thus only they require life insurance. With more women stepping into different professional setups, it is equally important for them to have an assurance through a life insurance policy. Life insurance for women acts as an essential financial instrument as it assures they remain financially independent by offering them protection and financial security for future. Not only housewives, single/married women and working ladies also need life insurance at different stages of life -

• When you are young(Protection) If you are a young woman, then buying a life insurance will offer you adequate coverage at a reasonable cost. In case of your unfortunate demise, your family will get sufficient funds to maintain their lifestyle and to deal with the future financial liabilities
• When you have a child(Savings & Investments) If you are a mother, then you may consider buying a life insurance to cover your child's existing and future expenses
• When you are retired(Retirement) A life insurance plan such as a pension plan will help you plan for your golden years post retirement

As per statistics, 79% men have life insurance, compared with 67% of women. Thus, it is evident that most men are aware of the importance of life insurance, it's high time that women also realize the significance of life insurance in their lives. Their contribution to families and society at large is irreplaceable and hence, greater insurance penetration among women would help women plan major goals in their lives along with protecting their families against unexpected financial liabilities.

#BarabariKaSaath

Women have been setting milestones in all the realms of life. Be it breaking the glass ceiling in the corporate world or managing household chores and children, a woman's contribution in the family is as important as that of a man.

But when it comes to investment, Indian women are still stuck at the traditional options such as gold and FDs. Although, there's one investment option that both men and women need to have - life insurance. They need to know the importance and financial security that a life insurance policy offers to their family.

Here're some of the benefits of buying a life insurance plan that every woman must know -

• Affordable premium - If you are a woman, then buying a life insurance is easy on your pockets. Because the premiums that you pay towards life insurance policy are lesser as compared to that of men.
• Higher sum assured - Women get higher sum assured at lower premium rates. They can get the sum assured of up to 5 Lakhs with no financial underwriting.
• Spouse sum assured - Under spousal cover, you can choose to cover your spouse under the same term plan. For instance, if your husband is eligible for the cover of INR 2 Crores but has taken only the coverage of Rs. 1 Crore, then wife can take the remaining cover i.e., 1 Crore.
• No financial underwriting for women- A woman can get the sum assured of up to 5 lakhs with no financial underwriting.

From buying groceries to cooking, from bargaining to managing finances, from child's education to marriage, both men and women work hand in hand these days. Thus, why not ensure that they too are insured against the contingencies of life. Hence, this women's day, let's do something unique and different. Give your wife, mother or daughter the gift of insurance protection and make them feel loved and special.

Kotak Life Insurance offers a range of protection, savings, and retirement plans that offers women the best of protection and financial security.

Benefits for women on buying a Kotak Life Insurance Plan

"You teach a man, you teach a man; you teach a woman, you teach a generation"

A woman plays a very prominent role in the family. Thus, securing her life is also important. And buying a life insurance policy is the best way of doing so. But, most women today are still not aware of the importance of life insurance. Hence, there's a need to teach them about the benefits of buying a life insurance policy, which provides various features and can serve them in many ways. Kotak Life Insurance plan provides myriad of benefits for women. Here are some of them -

• Lower premium - When compared to men, the premium payed towards life insurance policy is lower for women as it has been observed that life expectancy of women is higher and hence, premium rates for women are lesser than that for men
• Higher sum assured - Get insured and receive higher sum assured at lower premium rates
• Spouse cover Under spousal cover, you can choose to cover your spouse under the same term plan. For instance, if your husband is eligible for the cover of INR 2 Crores but has taken only the coverage of Rs. 1 Crore, then wife can take the remaining cover i.e., 1 Crore
• No financial underwriting for women - A woman can get the sum assured of up to 5 lakhs with no financial underwriting

All these advantages are applicable for the following Kotak Life products:

• Kotak Premier Life Plan
• Kotak Smart Life Plan
• Kotak Premier Income Plan
• Kotak Term Plan
• Kotak e-Term Plan
• Critical Illness Plus Benefit rider

You can choose the one that suits your needs.