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Why should women consider investing in a life insurance plan as seriously as men?

Women comprise almost half of India’s population. And gone are the days when women were considered or looked upon only as a homemaker.

Why should women consider investing in a life insurance plan as seriously as men

Today, women are excelling in every field, be it economics, science, technology, sports or any other. They are equally participating with their counterparts to manage family, expenses, life goals etc. A woman is proving herself not only as a homemaker but as a skilled professional in different fields. And now they are even the decision-makers in several organisations. So, why not a woman should think about her financial goals as seriously as men.

But the fact of the matter is that still women ignore or take a step behind when it comes to making an investment for themselves such as buying a life insurance plan. According to a survey conducted by the National Council of Applied Economic Research, the ratio of male policyholders is more than female policyholders. This is indeed a subject of concern as when women are excelling in every possible field then why they are behind in the insurance sector.

However, it is essential for women to be aware of their finances and know how to manage them properly. Women need to think seriously about having a financial portfolio wherein a life insurance policy should be an investing component. Planning finances in a proper way will put them in a better position to save money and safeguarding the dependants financially.

Also, women are more prone to fall sick owing to the lifestyle or various women-related health issues. Moreover, multitasking – handling household chores and outdoor work burden them with a lot of responsibilities which tend to have a severe effect on their health and thus it is must for them to buy an insurance plan. Like they plan everything in advance for their family, they should also plan for a life insurance plan as early as possible in life to have a financial backup during emergencies.

Why should women buy an insurance plan?

life insurance plan offers numerous benefits to women in various ways. Suppose a woman policyholder opts for a term insurance plan. In that case, the death benefit amount could help her family to manage their regular expenses along with paying off some outstanding debts (if any) in case of her untimely death. A working woman must opt for a term life insurance policy to ensure that her loved ones are financially secured in her absence.

Moreover, suppose a single woman plans to buy an insurance plan. In that case, the insurance coverage amount could add up as savings for the post-retirement period and help her to manage her expense without being dependent on others. Also, the retirement or pension plans are the right investment instruments which help in saving a part of the income. And over time, this saved amount gets accumulated and can be a good source of steady income after retirement period.

Additionally, by opting for insurance plans like money back, child plan or savings plan women can leave sufficient amount of money for children’s education or marriage that they always dream about along with benefits as mentioned above. For those who love travelling, the maturity benefit amount could be used to visit various places of their dreams. Overall, buying an insurance plan empowers women to fulfil their wishes and responsibilities which they always aspire to do without compromising on the financial front.

Well, ideally, there should not be any difference in the policies that women can buy. But whichever insurance policy they buy depends on the life stage and present condition. And similarly, they should always buy an insurance plan based on their requirements, liabilities, and responsibilities.

The bottom line is, it does not matter whether a woman the primary contributor in the family or the sole earner of the family or a single parent or a working professional, every woman should have a financial backup for herself as well as for her family’s security. To know more about insurance plans related to women, one can visit and get customised quotes for themselves.

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